Building your own home can be incredibly time-consuming and costly, especially if you opt for the traditional route.
If you’re looking for something less expensive, building a barndominium is an accessible and affordable alternative to a traditional home build.
In this article, I cover some of the key information you need to know about building a barndominium in Florida to give you a better understanding of what they entail.
Keep reading to find out more.
The housing market can be a minefield, and building your home can seem like a massive undertaking. That being said, opting to build a barndominium in Florida is a great choice for first-time home builders and people who are just breaking into the housing market.
Due to its lower cost and easier construction, a barndominium is perfect for someone who has always dreamed of building their own home but would rather avoid undertaking the large project of a traditional home build.
That being said, you can make a tonne of savings in terms of time and money, meaning that you will have more resources for the personal touches that make a house a home.
So, what is the cost of building a barndominium?
First, you will need to consider the purpose of the barndominium, from whether it’s going to be your primary residence, a vacation home, or a rental or investment property. This is important to establish because it will inform your decision on how many rooms you want to build in your home.
Once you’ve established the purpose of your barndominium, it’s time to budget for it. Before construction can start, you’ll need to budget for preparation fees, which is the money that you’ll pay for the preparation of your land before it’s built upon.
The number of fees that you’ll need to pay will depend on the plot of land itself, as this can cover anything from the clearance of the area to having the land graded if it isn’t flat.
Generally speaking, regular building permits must be acquired before, during, and after the construction of a barndominium. When it comes to building permit prices, each Florida county has its own requirements, so the prices will differ depending on where you live.
Although barndominiums often combine work and living space, you will still need to follow all of the building codes and regulations that you would for a normal residential structure.
When it comes to budgeting for building a barndominium in Florida, you will need to calculate the cost based on the square footage. By working out the cost per square foot, you can get an accurate idea of how much space you can afford in your floor plan.
Building a barndominium in Florida is generally much cheaper than a traditional home. Basic assembly of the barndominium will be around $100 to $120 per square foot, in comparison to a traditional home which would typically cost anywhere from $100 to $200 per square foot.
That being said, then, if you decided to opt for a barndominium, you’d have more money to spend on the decoration and the finishes of your new house to make it the home you’ve always dreamed of.
A crucial factor that you’ll need to consider before going ahead is how you are going to finance building your barndominium. This is because they don’t qualify for conventional mortgages or first-time homebuyer programs as they are technically perceived as multi-purpose structures.
If you’re going to finance the build of your barndominium, you’ll need to work with your bank to obtain a standard loan. However, if you’re building the barndominium on a piece of land that you already own, you could be eligible for a personal loan to cover the cost of the build yourself.
The most important thing is that you consult with your bank to talk about your options and personal finances and figure out what you can realistically achieve and afford before committing to the idea of building your own barndominium.
So, what are some of the benefits of building a barndominium in Florida?
Benefits of building a barndominium
- You can build one almost anywhere - Instead of waiting for your dream property to turn up on the market, a huge benefit of building a barndominium is that it is an inexpensive way to build your dream home anywhere you like. They can be built on an existing plot of land or one that you purchase specifically for the job, providing you with the freedom to build your dream home almost anywhere.
- They can be used for a variety of purposes - The clue is in the name! The name barndominium comes from the words ‘barn’ and ‘condominium’ together, as these structures were often used as workspaces that were later converted into living space. For instance, barndominiums are often built in the country as their wide-open spaces make them great for storing tractors, trucks, or other machinery required to run a business. The large space, then, also allows for living space to be created, making them a highly multifunctional investment.
- They’re quicker and easier to construct than traditional home builds - As most barn shells can be constructed in a matter of weeks, it is much easier to get the project started and finished in a shorter period of time. This is a great alternative to building a traditional home, which can take several months or even years to complete.
- They’re cheaper to build than traditional home builds - Building a barndominium in Florida is much more accessible to people with less money to invest, as it is generally much cheaper than a traditional house build. Not only will you be able to save money, but you will also be able to add more features and spend more on the design of the interior to your custom home. Whether it’s adding an extra bathroom or spending more on custom furniture, you can add more personal touches to your home that you wouldn’t otherwise be able to afford.