Interior Design Guide Trends

Cost vs. Cost Per Square Foot

Sharif & Munir Custom Homes

Whether starting a new construction project, remodeling your current location or purchasing a pre-owned home, industry expert Michael Munir of Sharif & Munir Custom Homes knows a handful of golden rules to staying within your overall budget and making realistically smart selections. No matter what the project, Munir highly recommends assembling in a team of professionals to make early assessments, create a plan of action, establish a clear budget and work together towards the final product – your home. But aside from that, he explains, are several other value-related “X-factors” that should always be taken into account when determining a home’s “cost per square foot.”

“Location, location, location,” recites Munir, is the most important (yet often overlooked) element to consider when seeking to build or purchase a pre-owned home, he says. The idea that two identical homes (same floor plan, same square footage, etc) can be considered modestly priced in one neighborhood, and almost unaffordable to most standards in another, proves his point. In Dallas, for example, the same exact home in Highland Park, Preston Hollow and Frisco could range anywhere from a $100,000 to $500,000 difference – so choosing an attainable location is key in budgeting. Other external elements such as lot size and foundation condition can quickly increase the price point of your chosen property. A 6,000 square foot home on 1½ acres of land will require a substantially increased amount of landscaping, fencing, driveways and hardscaping than would the same size home on only half an acre. Assessing your foundation for age along with groundwater, soil and rock bed conditions are also factors that could dig deep into the budget if changes or modifications needed to be made.

Architectural elements and interior accessories and appliances, like anything else, will range from simple to lavish with coinciding price points. Roofing options (concrete tile, barrel roofs, composite shingles, faux slate) for example, can directly affect the budget without making any changes to the overall square footage. Additionally, a 4500 square foot home with luxury amenities and appliances could easily cost more per foot than your neighbor’s 6,000 square foot house. Small details such as finish outs (wood, carpet, stone) and walls (paint, crown molding, fabric), to larger aspects such as cabinetry, countertops and overall floor plan and design, can quickly add dollars without ever adding an inch of additional space.
Essentially, Munir says, with all things considered, including the location, current condition, amenities and level of skill and labor, “a home’s cost per foot is an outcome of what you (the homeowner) design it to be.” So, he advises, wise judgment and careful consideration are essential when evaluated the actual size and cost of your home.

 

Interview with Michael Munir, Sharif & Munir Custom Homes

Michael Munir - Corporate President and Chief Operating Officer
Sharif & Munir Custom Homes

Michael Munir serves as the corporate vice president and chief operating officer. Michael is professionally accredited as a licensed interior designer and is recognized as a Certified Graduate Builder and Graduate Master Builder by the Home Builders Institute. He is a member of numerous professional organizations including American Society of Interior Designers, Greater Dallas Home Builders Association and National Home Builders Association. Michael graduated from the University of Texas at Austin with a Bachelor of Science degree in interior design and completed the Business Foundations Program.

Sharif & Munir is a successful builder of fine homes in and around Dallas. Founded in 1978, the company has established a reputation for outstanding design and uncompromising quality. The company’s success extends beyond the construction of traditional single-family homes, and includes a broad expertise in areas such as luxury residential high-rise finishes, and high caliber renovation and remodel projects. Discover why Sharif & Munir is the essence of what a luxury homebuilder should be.
 

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Related terms: Architects, Builders, Designers, Remodeler

by: Rayven