15 Interesting Features of Old Homes
November 24, 2024
Modern farmhouses have gained popularity in recent years and have become a popular mainstream home design style. And if you're interested in building a modern farmhouse, you might wonder how much it will cost?
Planning for a modern farmhouse may seem daunting at first, but it's definitely achievable. You just need to know the myriad factors affecting the overall farmhouse construction expense.
We put together a comprehensive guide about the costs to help you know which ones you need to consider and give you a headstart on the building. So, let's dive into the relevant information below about the modern farmhouse's price.
A modern farmhouse is a type of farmhouse design style that combines the rustic, country aesthetic, and modern industrial elements to create a minimalist yet homey appearance. This type of design style focuses on a sophisticated and contemporary look.
The modern farmhouse uses a neutral color palette with brighter to warmer tones, including white, gray, off-white, taupe, and greige. For more information on roofing color options suitable for farmhouses, please refer to our article.
It also utilizes natural materials, wood, and salvaged or vintage furniture to create a rustic texture. In addition, accents or accessories are focused on clean lines and modern metal materials for a more sculptural detail.
The overall cost of building a modern farmhouse can be affected by various factors, including the size, house plan, design, location, construction costs, labor wages, regulatory and insurance requirements.
House Plan
The house plan is another key factor that can impact the construction cost of a modern farmhouse. It includes the size of the building, plan shape, wall to floor ratio, the total height of the building, and degree of circulation space.
A proper house plan reduces the time spent on construction and ensures proper execution at the site, hence lower construction costs. A poorly planned house plan, on the other hand, causes confusion and delay in the construction time, which generates a higher construction cost.
Design
The design is also another key factor because it impacts construction execution. A simple farmhouse design will be easier to build and more economical than a complex farmhouse design. The building of intricate details for the complex structure will entail higher labor and materials costs. It will also entail a longer construction time.
Construction Costs
Construction costs will also greatly impact the overall price of building a farmhouse. It consists of the materials, shipping, taxes, deconstruction, and inspection fees. However, the costs may vary depending on the following elements.
The type of materials and machinery they would use and how many they would use for the whole project will play a crucial role in the overall costs: the bigger the project, the more needed materials, hence higher construction cost.
The construction costs also include the farmhouse’s foundation, framing, exterior, and interior finishes, and major systems costs.
Labor Wages
Labor wage is another key factor that can heavily influence the overall farmhouse cost. Its cost may vary depending on each city, state, and region. Labor wages may also differ, depending on how they will be charged.
Size
The cost of the farmhouse construction is roughly estimated at a price per square foot. The bigger the size of the farmhouse project, the more the building will cost overall. In addition, the farmhouse's functional space is also a factor, as it determines the value of the building.
Location
The construction site also plays an important role in the overall farmhouse expense. For example, if the construction site has great building entries, site lines, topography, and orientation, the property's value would be higher. And if your farmhouse is built in a high-value property, the higher costs would be.
Conflicting utilities, uneven land, poor soil condition, and archaeological sites may lower the property's overall value and expense. The costs would also be lower if your farmhouse were built in an average-value area.
Regulatory Requirements
Regulatory requirements, such as building permits or approvals from agencies, can also heavily influence the costs of building a farmhouse. These requirements must be acquired before the project begins to ensure your farmhouse complies with safety, building, zoning, and construction codes.
The costs for these permits and other regulatory requirements may vary depending on the project's location, complexity, and cost.
Insurance Requirements
Cost estimation should also consider the insurance requirement costs, including general contractors' liability, payment bond, performance bond, and insurance for equipment, because these can impact farmhouse building costs.
Additional requirements may also be covered, depending on the complexity of the farmhouse project.
In general, the cost of building a modern farmhouse may range from $300,000 to $1,000,000, depending on various factors affecting the overall expense.
Lot
Before you build a farmhouse, you need land or a lot first to build it on. The average land cost per acre ranges from $3,000 for low-value areas and increases to $10,000 per acre for high-value properties.
For example, if you bought 10 acres of land, estimate your expense to reach $100,000 for land costs alone. Note that you may also need to spend on land preparation, which can range between $1,500 – $3,000 before construction.
Foundation
The foundation is one of the most vital parts of your farmhouse because it serves as the base. The cost of foundation construction typically ranges from $4,500 to $15,000 for average work, while a high-end foundation with a basement ranges from $25,000 to $80,000.
House Plan
The house plan usually costs around $1,500 to $2,500 for average drafters and may increase up to $5,000 to $15,000, depending on the architects and the project's scope.
Framing
Framing is also one of the most expensive parts of farmhouse construction costs as it is considered the skeleton of the building. It includes the walls, floors, and roof trusses.
Framing the farmhouse may cost between $20,000 to $50,000, depending on the materials used, the floor plan, and the size of the house.
External Elements
Installing the other external elements, including the roofing system, doors, windows, sidings, and landscaping additions, will roughly cost $50,000 to $70,000.
Major Systems
Installation of major systems, such as a furnace, ductwork, and HVAC, costs around $12,500 to $52,500. The overall cost may vary depending on the farmhouse's size, location, and type of HVAC used.
The interior finishes' overall cost includes the basic components for a livable farmhouse, such as flooring, drywall, insulation, interior doors, cabinets, countertops, paint, fixtures, furniture, and appliances. On average, a complete interior finish installation costs around $100,500 to 200,000.
After the installation of interior finishes, your farmhouse construction is finally complete.
A Modern Farmhouse has been increasing in popularity despite being an expensive custom type of home design. Its defining characteristics elevate your house from the traditional houses, including the beautiful combination of a rustic and minimalist approach, making a modern farmhouse a good investment in style.
If you're planning to build your modern farmhouse, use our comprehensive article on the costs to guide you on the essential factors to consider and help you in the construction process.
Keep in mind that these costs are rough estimates, and it’s still best to consult your local contractors for a more accurate construction cost for your modern farmhouse.
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