Close or far sub-panel location?
I'm getting ready to start wiring for my basement addition. I've already decided to install a 100amp sub-panel along with 6-8 circuits. The distance from my service panel to the primary area where most of the circuits will be located is between 40-60'. My first thought was to locate the sub-panel closer to most of the circuits, therefore requiring a single long run (with steel conduit) for the 4, low-gauge individual feeder wires, allowing for much shorter home runs.
My other option is to locate the sub-panel close to the service panel (much short feeder wires/cable), but much longer multiple home runs (basically most would be 30+ feet.) Which option is the most cost effective? I'm guessing the elimination of steel conduit and 4, #3 gauge wire will save more than the added cost of multiple, longer home runs ROMEX cabling. Is there any conventional-wisdom on this from local electricians?