In an attempt to understand the true local (Alberta) cost of adding a sprinkler system to a new home I have broken down some figures from the past 2 1/2 years. These are Gold Seal Homes’ figures and are reflective of the rural Alberta market. Cost /sq.ft. will drop proportionately for homes in larger markets, as housing costs and land costs tend to be higher and therefore the sprinkler costs become relatively smaller. Here we go…
Gold Seal has produced:
- 25 sprinklered homes in Carstairs since 2008
- total net cost of all sprinkler systems $140,930.00
- highest sprinklers system cost to date: $8,208 in a 3288 sq. ft. home
- lowest sprinkler system cost to date: $4800 in a 1768 sq. ft. home
- Average cost per sq. ft.= $2.45 (1)
- Average cost as a percentage of house cost = 1.553% (2)
- Average cost of system over 25 homes = $5,637.20
(1) $140,930 (sprinkler costs for 25 homes)/57,519 sq.ft. (total living area of 25 homes)=$2.45
(2) $140,930(sprinkler costs for 25 homes)/$9,074,500 (total selling costs of 25 homes) = 0.01553
If we look at the average cost of our last 25 homes ($5,637.20) in regard to financing, on a 5 year closed mortgage at 3.59% (Grant Mortgage-December 3rd 2010 rates), the annual servicing cost of the system is $314.16. Six dollars a week to protect your family and your belongings. This does not take into account annual insurance reductions of 15-40% / year.
Six dollars a week to protect your family and your belongings.