Being the center of Canada's oil and gas industry, Calgary, Alberta has seen rapid economic growth since 1999 when the price of oil rose dramatically. The city has one of the highest incomes per capita and one of the lowest unemployment rates in Canada. Economic boom invariably results in population growth and the story is no different in Calgary. As a result, there has been a housing boom in the city and previously "untouchable" infill sites have been opened to accommodate a growing population of city dwellers.
In 2007, the price of houses in Calgary surpassed some cities in Ontario. Even today, average house prices in Calgary are still higher than other parts of Canada. The majority of new houses in Calgary are built in new areas that are expanding. However, an increasing number of people are opting to live in a Calgary infill house. The reason is obvious: infill houses are built in established neighborhoods where every modern amenity is easily accessible.
If you are planning to buy a house in Calgary, then you must be willing to part with about $372,000 because that is the average house price in the city, according to the Canadian Real Estate Association. But if you want to build your own infill house, then the cost could be anywhere between $175 and $250 per square foot. Thus, a 2,000 sq. ft. home can cost from $350,000 to $500,000. This price does not include the land price.
The costs of building a house can be broken down into two major parts: the cost of the land and the cost of development. The value of land depends on the location, lot size and the potential for development. A lot in the outskirts of the city costs considerably less than inside the city. Infill sites being in developed parts of the city, the land prices are considerably higher. However, the advantages of an infill house far outweigh the cost concerns.
Development costs of a Calgary infill home depend on the size of the house, the materials used, finishing quality and the contracting option you have chosen. The overall costs of construction are also affected by variables like the difficulty of construction, finishing materials selection, specialized engineering and site servicing.
Since building an infill house is a major investment - possibly the biggest you will make in your life - you should do thorough research before you decide to build your house. You should talk to an experienced Calgary home builder and get their expert advice.
For a free quote on your custom home building project, contact Sunset Homes today and get an idea of how much you should budget for your dream home.