What's the Average Cost to Build a New Home?

Posted by Casandra Properties on Sunday, April 18th, 2021 at 6:00pm.

Do you have a dream house that lives in your mind? A place you've always wanted to build into a reality?

The cost to build a new home, or even the perceived cost, can be enough to deter people from starting on their dream house. There are several factors that come into consideration when you are thinking of buying a house versus building one.

If you're seriously considering building a new home, this initial cost breakdown should help you get started.

Average Cost To Build A Home

Location, Location, Location

The location for your home will change the prices for the whole project, sometimes drastically. If you want to build it in a pricier neighborhood or on a specific lot, that alone can add up. Think about what your max budget is before you get your heart set on a specific spot.

If you are leaning toward building a new home vs buying a home, consider having your home on a developed lot. You can still have a lot of individuality without the extra cost. You may also try working with a drafter over a full-time architect to take care of some extra costs as well.

Big or Small?

The size of your house will obviously have a big impact on how much it cost to make. The average is $100 to $200 for each square foot, and that adds up very fast. And that's not even talking about custom homes with higher costs closer to $200 to $500 per square foot.

The average home cost about $300,000 to build, but that ranges plus or minus about $150,000 depending on how big or small you go and how many extra things you want to be added. If you're thinking of home costs for building it yourself, try to make sure all your space is necessary and maximized. If you want a bigger house, think of the minimum square footage you can work with first.

Which Company?

When you're considering a company, be sure it has people you can speak to, get estimates from, and be transparent about your needs. Take Sherhill Construction, for instance, and look at the services offered. You can do specific projects with them, or a bigger construction job from the ground up. 

It's a good idea to find a company that specializes in what you're looking for. If you are still wondering how to choose a construction company, look at reviews, what they can do for you, and be sure they specialize in what you need before writing a check.

The Real Cost to Build a New Home

Homes aren't cheap, and building them isn't any cheaper. Typically you will run into more costs building a house from the ground up, but it might depend on where you live and what types of deals you can find. The cost to build a new home can add up, but if you have your heart set on an idea, a good construction company can help you make it happen.

Was this helpful in getting you closer to your dream home goals? You can check us out for more great real estate advice. 

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