Does the idea of living in Boston seem attractive to you? We can’t blame you. This bustling city has a great history, a wonderful culture, a good selection of higher education institutions, and a flourishing technology industry. Residents of Boston enjoy a certain prestige, drawing in other homeowners and getting them to purchase real estate in the area.
If you’re one of these people, you must consider several factors like the home and customizations you’re looking for. By now, you probably already know that building or buying a house in this area is more expensive compared to other cities in the United States. As a matter of fact, Boston is the first most expensive city in the US based on recent data.
We’ll break down the associated costs in greater detail so you have a clearer picture of what you’re getting into.
So, how much should you set aside if you’re building a house in Boston? Let architectural visualization studio Plus Render give you the low-down. From expenses based on home sizes to pros and cons, we’ll tell you all you need to know so you can plan your Boston residence.
Want To Live in Boston? Here Are the Costs You Should Be Aware of
The size of the structure you’re planning to build will greatly influence your expenses. Usually, building in Boston comes with a $160 per square foot price tag. Structures can cost $500,000 to $800,000 to build. Note that these prices don’t include building permits, interiors, etc.
This number can go lower or higher depending on the design and materials to be used.
Small Size
Small 800-square-foot homes cost around $128,000 to $150,000. Higher-end residences can go as high as $300,000.
Medium Size
If you’re gunning for a medium-sized home that’s about 1,500 square feet, you’ll need around $150,000. More luxurious residences cost around $700,000 to $900,000.
Large Size
A place that’s about 4,500 to 5,000 square feet in size costs $700,000 to over $800,000. A more premium version could go over $2 million.
Other Costs To Consider
The costs above exclude soft costs like land preparation, building permit, furnishing, and interior design. Discover how much you’ll spend by reviewing the next figures with us.
Acquiring an empty lot will cost $300,000 on average while expenses for land preparation are between $1,500 and $3,500. Make room on your budget for building, HVAC, plumbing, and electrical permits which will total around $4,000. Plus, your interior furnishing and interior design service could cost you around $20,000 to $40,000 depending on the pieces and professional’s credentials.
To ensure satisfaction with your Boston home and enjoy a smooth construction process, employ virtual tours. Virtual tours are simulations of your future residence. They give you a detailed idea of what the final product will look like. Aside from managing expectations, they enhance communication, reduce unnecessary do-overs, and allow you to identify potential issues before they become part of your project.
They are superior to real estate renders because you can navigate through the space and experience it as if you were inside the simulated environment. You can get them for $500 to $2,500. For a more accurate estimate, book a call with Plus Render.
Pros and Cons of Building a House in Boston
Aside from financial considerations, building your own house comes with the following pros and cons:
The Pros
Take a look at these benefits.
Personalization and Control Over Design
Compared to buying an existing house off the market or a spec house, building your house from scratch is a special journey that greatly involves your input. From the layout to the materials to be used, you get to build a house that’s designed according to your exact taste and preference.
Material and Building Quality
You or a trusted expert can personally monitor the construction process from the build to the finishing materials. You can check the consistency and quality of the materials used, the installation, and the overall construction and structural integrity of the building.
Optimize Energy Efficiency
You also get to plan how you can minimize your future energy consumption costs by strategically planning and incorporating sustainability features in your home design. You can use water-efficient fixtures, energy-efficient windows, and high-performance insulation foams.
Living in a Historic and Vibrant City
Aside from your house, living in Boston also brings a ton of advantages like being surrounded by vestiges of history, vibrant culture, educational excellence, and the Boston-strong spirit. It is teeming with amenities that inspire you to reach for your dreams, starting with your home.
The Cons
If you decide to build your own home in Boston, be ready to face these disadvantages:
High Cost of Construction
Boston is an expensive city and comes with a high cost of construction. From materials to labor cost, to permits, furnishings, and professional services, it isn’t cheap to build a house in this first-rate city.
High Cost of Living
Boston offers a high standard of living in terms of amenities, public services, economic activities, and cultural scene. This makes Boston properties some of the most expensive in the US to live in.
A relevant study revealed that a family of four must have a total income of more than $300,000 yearly. Singles, on the other hand, should earn around $120,000 annually for a comfortable lifestyle in Boston.
Boston homeowners must have a more generous budget to remain at pace with the city’s high cost of living.
Long Process
Building a home from the ground up can take up to a year. This drawn out period can be stressful especially if you face construction and budget issues along the way. It can be time-intensive so if you need to settle in soon, you might want to acquire a home another way.
More Involvement
It will require you to invest your time and energy throughout the process. Unlike purchasing a spec or ready for occupancy home, you will need to put in a lot of effort from start to finish to make sure that the construction is going as planned.
Professional virtual tours from Plus Render can help you mitigate these disadvantages. They reduce costs by helping you avoid mistakes during construction and speed up the process by giving everyone visual pegs. Since they’re more engaging and don’t require an understanding of technical specifications, it’s easier to get everyone involved and on the same page.
What To Consider Before Building a House
So, you’ve decided to build your own home in Boston. Examine the following before proceeding full steam ahead:
Location
Examine your lot’s location. It should be conducive for you and your family. Your location will also impact the cost of your construction. There are high-end districts like downtown areas that would cost even more to build in and there are zones away from the city center with mixed housing types where construction costs are more reasonable.
Budget
Consider the direct costs of constructing a house plus other expenses like permits, interior furnishing, and customizations.
Time
You will need to spend time monitoring the progress and quality of your house construction. Also, it is important to work out a schedule for when you plan to relocate. This can prevent unnecessary disruptions to your children’s schooling and your employment.
Living Expenses
Being able to afford your home construction cost is just the initial consideration. You need to check the average cost of living in Boston so you won’t end up living in a home you own without being able to sustain a comfortable lifestyle.
Contractor Credibility
Choosing a reliable and competent contractor is crucial in your home construction journey. Check for credentials and actual completed home projects before signing a contract.
Real Estate Visualization Tools
The ability to see and experience your Boston home before it’s built is a powerful asset. Virtual tours, in particular, allow you to see and appreciate a structure in great detail. As a result, expectations are managed, costly do-overs are avoided, and communication across parties is more efficient.
Always partner with reputable visualization firms like Plus Render. With deep specialization in the real estate industry, we already know what most clients want and can help them anticipate issues before they happen.
We can also create custom tours depending on different objectives like incorporating sustainable features, highlighting certain features, and depicting projects from specific angles.
Service Providers
You will need service providers like Plus Render during the different stages of your home construction journey from land preparation to virtual tours to installers and interior design. Ask for referrals from people you trust or conduct an intensive search by inquiring about completed projects and checking client reviews.
Long-Term Goals
Identify your long-term goals for living in Boston. Do you intend to work there until retirement, send your children there for college, or spend the rest of your years there after retirement? Are you going to stay permanently or invest in a property until your career leads you elsewhere? You should factor in these aspects when constructing a home in the city.
Why Hire a Service Provider Like Plus Render?
To help you envision your future home and get a feel for your small piece of Boston, it is important to have clear visuals of what it would look like.
This is where our expert service at Plus Render comes in. Plus Render is an architectural visualization firm headquartered in Bilbao, Spain.
For your home construction plan in Boston, we can provide you with immersive, realistic, and detailed 3D virtual tours, including photographic renders of your future home whether you need aerial views, exterior angles, or interior spaces. We utilize the latest technologies to give you the finest output.
Take a step in the right direction with us. We’ll help make the decision-making process easier so you have the exact home you’ve been dreaming of. Let’s work together to make your Boston home exactly as you’d envisioned.
Contact us today for a free, no-obligation proposal.
