Building Costs – What to Expect

Owning a lot is only the first step towards sipping a Long Island Ice tea or enjoying some of PEI’s Craft Beers on the finished deck.

2018 C21 Price/Square Foot ($/sf) Survey - ALL Sales INCLUDING LAND.2018 $/sf Survey
Including LAND

Building activity in the last few years has been brisk on PEI and finding a builder may be an adventure. Doing your homework and finding a good builder will result in years of satisfaction and enjoyment. Price is always a factor, but may not be the prime motivator for choice. Century 21 evaluated sales across Canada (both new and existing stock) to arrive at a Cost per Square Foot measure for cities across the country. Costs were for sale prices for all homes and INCLUDED land. Charlottetown costs were at $196/sf for the homes sold in 2018.

For calculation purposes, say the lot is $50,000 and the average home is 1600 sq. ft. At $196/sf a sale would be at $313,600 . Deduct $50k – $263,600/1,600sf = $165/sf (same as $50,000/1600sf = $31.25/sf deduct from $196/sf ) In this example, $165/sf cost would be for the home alone. Since the C21 results are for the entire housing stock, newly constructed homes would have a higher cost for the home. This agrees generally with 2019 ball-park estimates that NEW home construction on PEI is in the range of $200 per sf (excluding land). This is influenced heavily by the quality of finishings and interior decor, but provides a starting point to evaluate estimates. Here is a link to the Century 21 study with results across Canada (PDF Format) . NOTE again, the study home costs per sq.ft. INCLUDE LAND.

Other links suggest a building value could be under $200 per foot. However, they are costs in other provinces and with a rising market can become quickly out of date.

House Building Costs in Southern Ontario : (appears to be 2016 – Rijus home plans)

“Generally, we find the ‘price per square foot’ rate to be around:

* $140 – $160 per square foot to build a house your own (self build)

*$170 – $200 per square foot to hire a custom home builder

How Much Does It Cost to Build a House? (March 2019 – Re/Max)

  • Vancouver: $130 – $230
  • Calgary: $115 – $150
  • Toronto: $110 – $210
  • Montreal: $95 – $160
  • Halifax: $115 – $150

Commercial building costs

For those considering a lot purchase, keep in mind the total costs at the finish line. A drilled well will add up to $10,000 and even $20,000 to the final total. In Granville on the Water, you do not have this cost, as piped water is distributed throughout the subdivision. Together with underground electrical services, value and quality is elevated in the neighbourhood adding to peace of mind.

Home under construction in Granville on the Water early in 2019 … loving the view !

There are a number of ways to find a good builder on the island. Word of Mouth and recommendations from known friends, family, and regular acquaintances is usually a good way to avoid problems. That should find you a good builder, but perhaps not the best or not on your schedule ? As homes represent the biggest investment most people ever make, take your time to find the right builder …. check out past owners and their reviews and comments. Look at the product built by the builder and inspect the workmanship and quality that was put in place.

A few links to review for Builders and Suppliers :

GOTW – Origins of Homeowners Association and Water Utility

The Granville on the Water neighbourhood was started in the mid-2000’s. A Homeowners Association was registered, a Water Utility was registered and a pumphouse built with 2 wells, and the roads and common areas, as developed, are turned over to the Granville on the Water Homeowners Association Inc. (GOTWHA) The Granville on the Water Utility, Inc. that supplies drinking water to the lots is owned by the GOTWHA.

A document highlighting the By-laws and origins of the two companies, as well as the covenants and the neighbourhood governing documents for all owners may be downloaded by …..
 
Clicking this link to the GOTW Owners Info document.
(PDF opens in new window – 6.6MBytes)

Comments are welcome.

World Class Golf & Fabulous Eats – MAPS

Granville on the Water is located on the Trout River, in the New London Bay water system – truly a beautiful area of PEI. This location is ideally located to any person who enjoys eating, and may play a few rounds of Golf. There is no better location than Cavendish – Stanley Bridge, North Granville – to be close to some great tracks you would be excited to play and proud to show off to friends.

After a great round, there are many restaurant options for Homeowners to get out with friends and neighbours. Steaks, Seafood – lobster, mussels, oysters, scallops, clams – and wonderfully fresh options for sides, are found minutes from home. Skip the Bar-B-Q every so often and enjoy eating in your neighbourhood.



Golfing close to Granville on the Water :

Enlarge GOLF Map
Golf Courses near Granville on the Water

Golf near Granville on the Water


Restaurants close to Granville on the Water :

Enlarge Restaurant Map

Eating is a pleasure – especially where the ingredients are found on your doorstep ! Restaurants on the north shore of PEI and in the Cavendish area are renown for providing the fruits of the sea and the land. Be sure to stop in and support the local hardworking restauranteurs, chefs, and wait staff. You wont be disappointed.

Restaurants Near Granville on the Water