Are you wondering how much does it cost to build a house? If yes, you should check out our guide here on the prices you can expect.
Building a home comes with many perks. You get to design your ideal floorplan, choose your flooring and countertops as well as flooring and fixtures.
Yet, without proper budgeting, you can quickly double the price you planned to pay. So how much does it cost to build a house from start to finish? Read on and find out.
Average Building Cost Per Square Foot
The National Association of Home Builders releases a construction cost report every year. The 2019 report shows that the average construction cost of a typical single-family home cost $114 per square foot.
According to this report, the major costs are as follows:
- interior finishes 25.4%
- framing 17.4%
- system rough-ins 14.7%
- exterior finishes 14.1%
- foundation 11.8%
- final steps 6.8%
- site work 6.2%
- other costs 3.8%
Of course, this is an average. If a home has more floors, a distinct shape with more corners, or complex rooflines then it will cost more per square foot.
Building Cost Variables
There is no simple answer to the question: “how much does it cost to build a house”?The cost of building a house yourself varies according to several factors.
First of all, it depends on where in the country you plan to build. The cost of land and labor can vary from state to state.
Also, the cost of materials, especially lumbar, has a wide range. Be aware that you may qualify for a homebuilder grant of up to $25,000.
Home Building Cost Breakdown
The first cost when building a home is to purchase land. Then you will have to have it cleared and prepped for building. This might cost between $1000-$4000.
If there is an existing structure to raze or debris to haul away, the cost will go way up.
Next, you will need to connect to local utilities if not already done. Find out which services you’ll need then get quotes.
Getting a floorplan creating by an architect will cost around $5000. If you know what you want, you may opt to work with a drafter for less than half the price.
The cost of your foundation depends on the material. Concrete slab tends to be the cheapest. The most expensive option is if you opt for a basement.
Framing will take up a big part of your home building budget. For a single-story house, the price can be between $20,000 – $50,000.
Another 40-60K goes towards siding, roof, windows, and doors.
You can budget between $20,000-$40,000 for plumbing, electricity, and HVAC systems.
Last of all is the interior finishes. It is really easy to overspend in this area. Beautiful cabinetry, countertops and light fixtures can add up fast.
The cost of these items will depend on the quality of the materials. There is a big price difference for laminate versus marble counters.
Enjoy Your Dream Home
Thanks for reading. Now you know the answer to the question: “how much does it cost to build a house?”
Having this understanding will help you create a budget that works for you. Building a home requires time, patience, and making a lot of decisions. But the payoff is that you get the home you’ve always wanted.
Come back again soon for more interesting articles for you to read.