You're tired of going from house to house in search of your dream home. No house has checked of all the boxes. And you're starting to think that building your own home is the only way you'll get the house you want.
The question is, how much does it cost to build a home from scratch? Can you actually afford to make the home of your dreams?
Here's a rundown on how to build a home and the cost to build a home.
How Much Does It Cost to Build a Home?
Research shows that a new home spanning a couple thousand square feet costs about $150 a square foot to build. That puts your home cost at around $300,000.
However, as a general rule of thumb, the median house price on average is just under $270,000.
Of course, several factors must be considered to determine how much your new home will ultimately cost you. For instance, you need to factor in the cost of the piece of land you plan to build on as well.
In addition, note that parcels located on bodies of water, like lakes or rivers, tend to be pricier than land parcels located in suburban areas.
Also, perhaps you're considering purchasing a property area in the middle of a city. You can expect the cost of this property to be costlier as well.
Other Cost Considerations When Building a Home
Thinking about building a custom home with the help of a company like Currahee Home Builders? Your home's cost will also depend on your chosen type of building material.
For instance, a wood-framed home will cost less than a block-framed one. However, the latter would be helpful if you reside in an area that experiences hurricanes.
Other factors that contribute to your home building costs include your interior and exterior finishes. Also, be sure to factor in your heating/cooling system expense.
Furthermore, are you interested in adding a pool, porch, or deck to your property? Or, have you envisioned a particular layout for your new home? Also, are you planning to make your home two stories tall versus a single story?
Such personalizations also add to the cost of your building project.
How We Can Help
In addition to answering the question "How much does it cost to build a home," we offer help with buying and selling homes.
If you're interested in purchasing your first home, we'll walk you through the process of determining how much house you can afford. For instance, what's your ratio of debt to income? And will it allow you to purchase the home size and acreage amount you have in mind?
We can also help you to conveniently complete a home purchase if you're out of the country.
Get in touch with us to learn more about how our real estate services can help you to make your dream of owning a home your new reality.