After nearly 25-years of real estate investment and development across the country I can tell you that nowhere in the US are the costs and complexity of residential construction more shocking than in South Florida. The high cost of living is one factor, but lots of places have that same pressure. The main driver exponentially multiplying construction costs in South Florida are the unique building code requirements to equip homes to withstand potential hurricanes.
In our real estate development projects and Design + Build Management services we work with dozens of contractors and vendors on a weekly basis. It’s our job to know construction costs and the most efficient building methods. Although Studio 818 is not a General Contractor that’s a big benefit to you as the homeowner. We have no agenda except to enhance your lifestyle with the best design possible, streamline the process with an integrated design team, and to protect your interests throughout the project with our build management.
When you have a design team that understands construction costs it translates into maximum control for you as the homeowner. This is especially true in a designer-led Design + Build Management process like Studio 818’s were we have you covered from concept to project completion.
Budgeting for construction costs in South Florida
. . . An Introduction
There are over a dozen factors that will directly impact your final budget. Things like site conditions, size of the home, level of finishes, timeline restrictions and overall project complexity are just few. With that many variables in play it’s impossible to predict your actual final investment. But we can give you this baseline for construction budgeting in South Florida to at least calculate a rough number for your project.
- Cosmetic home renovation with minimal changes to your floor plan; construction costs will generally start at $125/Sf with mid-market finishes
- Gut-rebuild with major floor plan reconfiguration and/or structural changes; construction costs will start at $175/Sf with mid-market finishes
- New-construction (ground-up builds); construction costs will start at $245/Sf with mid-market finishes.
If you’d like to dig deeper and get a better understanding of the costs of building or renovating in South Florida we’ve published two eBooks:
- The Real Deal on Design & Renovation Costs in South Florida
- Seven Killer Flaws to Fix When Renovating a Home in South Florida
You can grab them both for free HERE.