05/03/2019
How Much it Costs to Build a House in 2019
If you’re thinking of building your own home, you’re probably wondering how much does it cost to build a house.
You’re probably also asking yourself “how long does it take to build a house?” “What kind of financing do I need when I build a house?”
There are many variables that can affect the answers to these questions. The following overview includes many insights we think you’ll find helpful.
Average Costs vs Actual Costs
These averages are great to keep in mind, but they might not bear much resemblance to what it will actually cost to build the home you have in mind.
The specifics of your situation could vary dramatically from the average, making your actual home costs significantly lower or higher than the average.
What Factors Will Affect the Overall Cost of Building Your New Home?
There are many variables that contribute to the final price of building a new home.
This checklist will help you understand some of the major contributing factors.
The Lot You Buy: The NAHB reports an average cost of $85,139 for a buildable lot. This figure includes the costs associated with financing it.
The area of the Final Home Site You Decide On: Before you build on your lot it may need to be leveled. Access to the building site may pose challenges; it depends on whether roads to the property exist and what condition they are in. Excavation costs vary depending on the site and local labor costs.
The Home’s Foundation: The NAHB estimates an average total of more than $33,400 for expenses relating to the home’s foundation. This sum includes excavation, retaining walls and other necessities.
The Square Footage of the Home and the Number of Stories Required: Multi-story homes cost more than single story homes; larger homes tend to cost more than smaller ones.
The Home’s Walls: The NAHB estimates an average cost of $11,744 for drywall.
The Home’s Windows and Doors: Doors and windows are a major expense. Homeadvisor.com reports an average cost of about $5,000 for window installation. The NAHB estimates a cost of $12,000+ for windows, doors and garage doors in a new home.
The Roof on the Home: The NAHB reports an estimated average cost of about $10,000 for roofing on a newly built home.
The Home’s Siding: Your choice of siding makes a significant difference in the home’s overall cost. If you’re planning to build a home valued at more than $750,000 US dollars, Stucco and brick/stone siding are generally the top choices to consider in 2019. Stucco adds onto the cost of a home at a rate of $6-$9 per square foot based on an increment of 1,000 square feet. Brick and stone veneer cost between $11-$15 per square foot. Brick siding is expected to continue growing in popularity in 2019 and beyond, so brick siding may be worth the investment on custom built homes even at the lower end of the market.
The Home’s Flooring: Expect to pay between $9 – $12 US dollars per square foot for hardwood flooring. If you prefer wall-to-wall carpeting, a realistic price range is $3 – $5 per sq ft. $13,000+ is an average total estimate for flooring based on NAHB data.
Plumbing: Expect to pay $12,000 or so for your home’s plumbing system.
The Home’s Electrical System: Setting up electricity to the house will set you back another $12,000 or so.
The Kitchen: Countertops, Appliances, Cabinets, Fixtures and Hardware: You could realistically expect to spend somewhere around $16,000 just for the countertops and cabinets. The appliances can add up to around $5,500 on average.
HVAC: NAHB data gives an average estimated cost of $12,623 for heating, ventilation and air conditioning.
The Exterior Details Like the Landscaping, Garage, Driveway, Deck, Patio, Walkway(s) and Sprinkler System:
If you don’t want your home to be situated on a simple dirt lot, expect to pay around $6,000 for landscaping. A driveway typically costs another $6,000 or so. A deck, patio or porch could cost around $4,000, give or take, depending on the features you want.
Now you have an answer to the question of “how much does it cost to build a house?” We hope this information has given you realistic insights about the average cost to build a house. Now have a clearer understanding of the factors that could affect your final costs if you follow through with building a new home.
Pros of building your own house
You’re able to customize every detail from the paint color to certain layouts you prefer.
You can pick out the exact lot you want to be in and which way your house will face.
Add upgrades, like a half bath or media room. It really is a chance to build your dream home.
Everything is brand spankin new – The walls are free from dirt and paint chips, sinks and toilets are brand new.
Save money – With all new appliances, sinks, toilets, water heater etc. you will save money because they will not need repairs for several years.
Cons of building your own home
It can take as long as a year for your house to be completed.
There could be lot of time involved (picking out each detail)
Some people feel more stressed when building a house
SO CHOOSING THE RIGHT BUILDER IS THE MOST IMPORTANT DECISION YOU’LL MAKE IN THE HOME CONSTRUCTION PROCESS
