If you’ve been thinking about building a new home in the Colorado Springs, Monument, or Black Forest areas, you’ve probably wondered: “How much does it cost to build a custom home in Colorado?”
I’ve been asked this question dozens of times so I know that people are curious! I believe in being honest upfront and giving transparent information so that our prospects and clients can make informed decisions with accurate information. I hope the following is helpful information as you decide if building a custom home in Colorado Springs is right for you!
Presently, you can expect to pay anywhere from $150,000-$450,000 for a custom home lot in Colorado Springs with most ranging between $225,000-$350,000 for 2.5–5 acres. When you factor in current land and building costs in Colorado Springs in 2020, it is difficult to build a custom home in Colorado Springs with a budget of less than $1,000,000.
Remember, the cost of a custom home build will vary from market to market depending on your local land costs, labor rates, and material costs. For the sake of this post, I’ll review what it costs to build a custom home in the Colorado Springs, Monument, Black Forest, Castle Rock, and Douglas County, CO market in 2021.
Land Cost: What You Can Expect to Pay for Your Custom Home Lot
Selecting a lot is one of the most important choices you’ll make when you’re ready to build a new house. Although you can add on to your home or renovate it in the future, you can’t change your lot if you’re unhappy with it. If you choose your location poorly, you may be stuck with a lot that’s not private enough, too far from stores and amenities, or too small to add a pool, tennis court, or large garden.
Lot prices vary considerably depending on the size and unique features of the land. You’ll pay more for a larger lot and also for breathtaking mountain views. Of course, location also influences price. Generally, land gets less expensive the further you get from the center of the most populated areas.
Custom home lots in Colorado Springs, Monument, Larkspur, Black Forest, and Castle Rock are getting harder and harder to come by. Most of the lots in the larger neighborhood communities are owned by large tract home builders and developers and aren’t available for purchase by a custom home builder in Colorado Springs or by an individual. Most custom home lots in Colorado Springs are between 1 and 5 acres, with the majority ranging between 2.5 acres and 5 acres.
Building Costs: What’s Included?
Labor and materials aren’t the only factors that affect the cost to build a house in Colorado. The size and style of the home and the finish materials also influence the price of new home construction in Colorado Springs. Generally, the larger the house, the more expensive it costs to build. However, the design, finish selections, and the complexity of the home play a large role in the cost to build as well.
The total cost to build will include things like architectural fees, engineering, permit fees, driveway installation, utility installation, well, septic, plus all labor and materials to build the home. Your building budget may include landscaping, but not always.
Other factors that may increase the cost of your Colorado custom home include:
Homebuilders in Colorado Springs may or may not include landscaping in the base price of a new custom home. If you desire to have landscaping included in your budget, remember to discuss this with your builder.
Do you plan to fence all or part of your new property? According to a Home Guide estimate, wood fences cost $13 to 25 per linear foot and vinyl fences cost $15 to 30 per linear foot. The cost of fencing varies depending on the quality of materials used.
Your costs will increase if trees must be removed, sewer and electricity lines extended to the lot, a septic system installed, or if considerable site work will be needed before construction can begin.
If your lot offers beautiful views of the area, you’ll probably want to add large decks, patios, or porches. Although these features certainly increase your enjoyment of your property, they’ll increase the cost.
Do you want to add a barn, studio, or other structure to your property or turn the back corner into your own private golf hole? You’ll need to consider the prices of these features when you calculate your total costs.
What Does A Gowler Home Cost?
So how much can you expect to pay if Gowler Homes builds your new home? Our average custom home in Colorado Springs is about 4,500 square feet with a 4-car garage. Homes feature designer finishes, including custom cabinets, quartz countertops, lots of custom trim and millwork, and higher-end appliances and plumbing and lighting fixtures. Our average custom home build cost in Colorado Springs is $900,000–$1,200,000, not including land.
Of course, there are exceptions. We recently finished a 2,300 sq ft home with a 2-car garage that cost about $650,000. We are also currently building a 7,800 sq ft home that has a build cost of around $1,600,000.
Want to Know More?
One of my favorite things to do is help prospective clients understand the custom home design and building process. Take a peek at some of our other posts. Or, if you are in the market and looking for a custom home builder in Colorado Springs, Black Forest, Monument, Castle Rock, Elizabeth, or Franktown, CO areas, I’d love to show you around our new offices and design studio and answer any questions you might have about the Design + Build process! You can contact us by clicking here.