Building a house is an exciting endeavor, but it costs more than a “pre-made” home. According to the US Census Bureau, 1,873,000 new home building permits were submitted in March 2022 alone.
If you’re interested in looking at custom-built homes, it’s important to know what the costs are before you take the plunge.
Read on to learn more about the average cost of building a house, so you can decide if it’s the right option for your budget.
Important Costs to Consider
Building homes is an arduous process that requires a lot of research, time, and effort. Before you can even start the home building process, you’ll need to purchase a lot or land. Prices for land vary greatly depending on the location.
After the land is secured, you’ll also need to find a builder. Architects charge a separate fee that can run into thousands of dollars.
You’ll also need a variety of permits before building a home. These are just some of the basic, first steps to building a house that will cost you out of pocket before the actual construction starts.
Cost of Building a House: The Structure
Once your land, plans, and permits are secured, it’s time to start actually building the home. Your builder will clear the land and work on the foundation, which has an average cost of about $9,000.
After the foundation is ready, framing will begin. This portion of the building process can run anywhere from $20,000 to $50,000 depending on the size of the home.
Keep in mind that custom luxury builders like Millseloge.com will be more expensive than local or smaller builders. You’ll need a roof after framing is finished, so plan to tack on another $14,000 for that, on average.
Steps to Building a House
The cost of building a house is about more than just the land, foundation, framing, and roof. You’ll also need to pay for things like electrical and plumbing. Add another $20-$25,000 for these vital components.
Once the “bones” of the home are built, it’s time to focus on items like appliances and finishes. The average new home appliances costs around $3,000 on the low end, and closer to $15,000 on the high end.
The finishes in your bathroom and kitchen will also add to your total cost. Higher-end finishes like marble are more expensive than standard builder-grade finishes.
Plan to shell out another $42,000 to over a whopping $100,000 for all of your finishes. This should include things like flooring, paint, kitchen countertops, and cabinets. It should also account for faucets and light fixtures.
Plan Your Home Building Budget
The cost of building a house will vary based on your location, budget, and the size and quality of the home. Keep these numbers in mind to help you plan ahead so you’re not hit with any surprises later.
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