Ever wondered: ‘How much does it cost to build a house?’ As always, the answer really comes down to your budget and what you are looking for, but at Construct we give you some advice regarding this very rewarding endeavor.
For many people, buying a house can be a stressful and unreliable process. Will you ever find the perfect house for you? Like the children’s story of Goldilocks, one will be too big, another one too small and most of them will probably feel too expensive. Dealing with real estate agents and running around behind countless ‘one-time-opportunities’ can be tiresome, too.
So, even if having your own home is a dream come true for most, finding the right one can be quite a painful experience. And if you got this far, you probably already asked yourself: Why not build one? How much does it cost to build a house?
Let’s find out.
Name your price
Let’s get straight to the numbers. Well, the average numbers at least. According to Home Advisor, the national average is around $295,509, and the average range goes from $134,803 to $456,215. But – believe it or not – there are also houses built with as little as $8,000 and some even get quite pricey at $800,000 dollars.
So, how much does it cost to build a house exactly? What can we get from all this? You probably already guessed, but yeah, it really comes down to what you are willing to pay. In any case, the national average for buying a house is somewhere around $300,000, though this varies a lot depending on where you live. And if you take into account all the hidden costs of buying a house, suddenly building one becomes more appealing.
Besides, there are a number of advantages of building your own home. Apart from the more obvious ones, like being able to match your future habitat’s style and general architecture to your needs and comfort, you can build taking into account future expenses and maintenance costs. Having a low-maintenance, eco-friendly house not only will save you money from basic expenses in the long run, it can also make you eligible for all kinds of tax cuts.
In short, the answer to the ‘How much does it cost to build a house?’ question is that as long as you are a bit creative, you can pay as little or as much as you want.
The necessary steps
Of course, building a new home from scratch isn’t always easy or straightforward. But if you break down the process into simple steps, it can be easier to navigate and estimate individual costs. Here we list some average numbers for essential steps in the building process that the National Association of Home Builders (NAHB) has reported in their 2019 survey.
Buying the land:
With an average size of 22,000 square feet, according to the NAHB a lot of land will cost you around $90,000. If percentages are more helpful, it is estimated that the lot will be at around 20% of the total costs of building a new home.
At Construct, we can buy your home for a fair market value and guarantee you’ll get cash in your pocket in no time, without any hassles.
Site work:
This includes everything related to plans and permits, the hiring costs of an architect or an engineer to take a look into your lot and lay out a suitable design for you. On average, this step will cost you about $18,000, but of course this will vary a lot depending on what you are looking for. It goes without saying that more complex plans will usually end up costing more moolah.
Laying the foundation:
As the stock metaphor suggests, this is probably the most important step in the proper building process of your new home. Do you want a basement? Or just prefer to go with a concrete foundation? There are many different solutions for this step, but you should definitely look into what’s the most convenient kind of support for your future home.
In some places, weather or and other hazards can make an excavated basement absolutely essential for your peace of mind, while in some regions you can make do with pillars or cheap concrete slabs. In any case, the NAHB estimates that this step will cost you around $35,000.
Framing the house:
According to the NAHB survey, this step will cost you around $51,000. Think of this as building the skeleton of your future house. Here the quality of the materials will directly impact on the maintenance and longevity of your house, so try to keep a minimum budget for this stage that does not heavily impair the final result.
Installing windows, doors, and roofing:
Pretty self explanatory. Again, take into consideration future maintenance expenses when buying frames and other external elements for your home. All in all, this will cost around $41,000 on average.
Plumbing and electrical:
Expect this step to come around $43,000. Depending on where you live, this may require extra expenditures, like special insulation for your pipes if temperatures at your region get below zero in winter.
Interior and finishing touches:
This is one of the most expensive parts of building a house, but also costs here might be very variable depending on the style you are going for and your personal comfort preferences. According to the NAHB, it can cost up to $75,000, but remember that these estimates are based on popular requests received by home builders during a whole year across the country, and this does not necessarily apply neither to your needs or local prices.
What we do at Construct
At Construct, we like to ask not ‘How much does it cost to build a house?’ but ‘How much can the community gain from this project?’. We believe in making fair deals for everyone, and we know that every bit of work we put into our beloved projects will come back not only as rewarding experiences but will also build the foundations of a better future.
This is why we like to rebuild and reform with quality in mind. Every material and every finish in our projects has been carefully thought to fit the needs and comfort of homeowners. We want to build homes that last, and impact positively on future generations.
When you sell your property to us, you are investing in the betterment of your community. If you want to get a quick but honest deal for your real estate, look no further! We can close the deal in under three weeks!
More advice from our experts home-builders at Construct
Go green without the spleen:
Going green doesn’t necessarily mean spending hundreds of dollars on state-of-the-art eco-friendly technology. Reducing your carbon footprint and improving the energy efficiency of your future home can be as easy as designing thicker walls or investing in better insulation for your roofs.
Even maintaining regular appliances often can improve the energetic efficiency of your home and save you money on the long run. But if you do want to install solar panels, geothermal pumps or other clean sources of energy remember there are special tax cuts for renewable energy systems.
Downsizing:
You don’t need to live in a Lilliputian home to cut costs. But maybe you don’t need all that extra space, or you rather convert your free land into an amazing garden or save money for outdoor amenities. Tiny houses are all the rage lately, so there are a lot of both compact designs out there that do not sacrifice an inch of comfort.
How much does it cost to build a house? Summing up
Now you know the answer. There is no need to cut on quality materials and comfort, even if you are on a tight budget. At Construct we believe that any great project begins with a great idea, and we love to see our ideas become reality.
If you want to sell your home, whether because you just need the cash or because you are planning to build one that suits you better, we not only can give the best market offer around but you can let go of your home knowing that we will invest back in the community.
