How much does it cost to build a house, you ask? Well, there are so many factors that go into the total cost of building your home, it would be hard to give you a solid answer without knowing more about your specific situation and preferences. Building an entire home includes the labor involved in actually constructing the house and other charges such as permits, design fees, materials, and — of course — construction loan interest over the time the home takes to build. So, how much does it cost to build a house?
The average cost to build a home
The cost to build a home varies widely depending on location, size and amenities; however, new data from several sources suggests that nationally, homeowners who take on construction as do-it-yourself projects typically pay about $150 per square foot. In other words, building an average 3,000-square-foot house can cost about $450,000.
Under $150,000
When most people think of building their own home, they think of constructing an expensive custom home with over-the-top finishes and unique amenities. But that’s not always necessary to build your dream house. Many builders now offer pre-designed plans for houses under $150,000 that you can order and customize however you like. The best part is these plans are available in all price ranges, so no matter how much money you have to spend, you can still find an affordable plan to fit your needs.
Over $150,000
Perhaps one of America’s most expensive cities to live in, San Francisco is also one of America’s most expensive cities to build. According to Curbed San Francisco, home construction costs average $417.00 per square foot in neighborhoods like Presidio Heights and Seacliff. Those numbers can climb even higher depending on your neighborhood and what kind of house you have built-in other words, if you want granite countertops and stainless steel appliances, expect to pay more.
Buying vs. Building
Oftentimes buying could be your best option. Finding a fixer-upper in an amazing neighborhood and then renovating that house can be a great option for many people. Many areas like New York City, it’s basically the only option.
Expect to pay more on the coasts
It’s no secret that very desirable areas on the coasts can sell for millions of dollars. In cities like San Francisco and New York the cost to build can easily top 500-1000 per square foot. This is a combination of material costs but also labor costs. The 3 most affordable states to build a home in are Oklahoma, Mississippi and Nebraska.
Conclusion
This is an impossible question to answer. It all depends on what you want in your house, where you’re going to build it, and who’s building it. But if you think of just some of those factors—size, location, amenities—you can get an idea of how much it will cost for you to build your dream home. Here are some things that can affect your building costs
Source: Hedgefield.com / Gobankingrates.com
