Monument, Colorado, offers a unique blend of serene mountain living and convenient access to more urban amenities. Monument's picturesque landscapes, with rolling hills, lush forests, and stunning views of Pikes Peak, provide a perfect backdrop for custom homes. It doesn't hurt that the town also boasts excellent schools, family-friendly parks, and a growing local arts scene, making it an attractive place for families and individuals alike. These are just a few of the reasons people love to call Monument home.
The cost of building a custom home in El Paso County, and Monument specifically, varies widely based on factors such as location, size, scope of work, and the finishes and features you choose. In the following sections, we'll explore these factors in more detail to give you a clearer picture of what to expect when considering building your dream home in this picturesque Colorado town.
In Monument, Colorado, where you have access to gorgeous landscapes and the amenities families depend on, the average cost for building a custom home could be $900K to $1.3M in 2024. Of course, your custom home cost will depend on the factors we mentioned. For example, a larger luxury estate in Monument, Colorado, could range from $1.5M to $3M in 2024.
When you're planning your overall budget to build a custom home in Monument, Colorado, there are several factors to keep in mind, such as:
The cost of building a custom home will include expenses such as:
Planning for these costs and including a contingency fund in the budget can help manage your investment amount.
If you don't already own land in Monument to build your custom home, this will be your first expense to consider. Land prices in this area are shaped by factors such as development level and access to utilities and local amenities, like shopping and schools. In Monument, Colorado, expect land that's suitable for a custom home that is .5 acres to 5 acres to cost between $200K to $600K.
Working with a design-build firm to design and construct your custom home offers numerous benefits, streamlining the entire building process. Firstly, it fosters a seamless integration of design and construction, ensuring that both aspects work in harmony from the project's inception. This unified approach leads to enhanced communication, reducing misunderstandings and potential conflicts between separate design and construction teams. Additionally, design-build firms often provide cost efficiencies, as the integrated team can identify budget-friendly solutions early in the design phase, avoiding costly changes later.
The streamlined process also results in faster project completion, as coordination between the design and construction phases is more efficient. Clients benefit from having a single point of contact, simplifying decision-making and communication. This client-centric approach ensures that your vision is central throughout the project, leading to a final product that closely aligns with your desires and expectations. Furthermore, the collective expertise within a design-build firm means that clients have access to top-tier professionals in both design and construction, ensuring high-quality results for your custom home.
At Elk Ridge Custom Homes, we want you to feel informed and confident when you begin your custom home endeavor. That's why we're transparent about all of the costs that can go into building a custom home in Monument, Colorado. We understand that this can be a lot of information to absorb, so we're here to guide you through the entire custom home-building process, from your initial consultation to your move-in date and beyond. Contact us today to schedule your consultation by filling out the form below.
In the meantime, below are some real numbers from our current builds for reference. You can also view our completed projects, learn more about our design-build process, and find out about financing options throughout our website.
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Current Project: 3 bed, 3.5 bath, 3,300 sqft modern farmhouse rancher with crawl space with all high-end finishes including beamed vaulted ceilings. Build Cost (includes everything except the land cost) $1,250,000 |
Current Project: 4 bed, 3 bath, 3,200 sqft Mid-century modern rancher with walk-out basement with medium finishes throughout + vaulted beamed ceilings. Build Cost (includes everything except the land cost) $960,000 |
Current Project: 3 bed, 3.5 bath, 4,100 sqft modern minimalist rancher with walk-out basement with all luxury finishes throughout. Build Cost (includes everything except land cost and landscaping) $1,360,000 |