You should have an idea of what you want your home to be like, so your search for a home begins with those requirements in mind. After all, if it's your biggest investment, it should be perfect--or as close to it as you can get.The cost of building a custom home depends on size, quality, materials, features and location. Depending on your budget (the amount of credit your lender has determined you can afford), you may need to adjust your home's plans according to these factors. According to the expert of well known firm in London i.e. http://www.plazaestates.co.uk/about/new-developments , the median cost for building a home can change substantially depending on the size and location of the house, and how well the housing market is doing in general.
Let's say, just for example, that you find a standard 1/8 acre lot in the Miami area that is a mile from the ocean. You pay 100,000 for the lot. Then you start building. If you go two storeys, instead of one, you may save a bit on the cost.
Before you do anything at all, talk to a local architect, unless you already have building plans and specifications for Florida. Miami has building codes that are very stringent. If you don't obtain permits for your building and you don't meet those codes, you will not be able to get a certificate of occupancy for your property.
Also, you will want to speak to several contractors, because each will have a different vision and price range in order to meet that vision.
From what I have encountered, you're probably looking at $75 per square foot at a minimum for a relatively inexpensive residence: slab, plywood floors up stairs and carpet everywhere except the kitchen and baths; builder's special cabinets and formica counters. minimum grade appliances. standard windows and doors; panel shutters may be an additional expense.
If you move up in quality, in order to create a living space that people will truly get excited about renting, you're probably looking at $125/ foot or more.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions