Building a home shouldn’t remain just a dream for most people, rather it should be realized somehow by anyone who has the means to do so. However, there is one primary question that needs to be answered before one decides to construct a new home: How much does it cost to build a house?
When constructing a house, you have to consider the many factors related to the costs of building it. Below, we briefly explore some of the factors that can affect the cost of building a new house. Consider them all carefully before you finalize the design for your house, as this is an essential step in the budgeting process and in determining the accurate numbers for the cost of building your new home.
Cost of Building a House
One factor that affects how much it costs to build a home is the plot of land. Before building a house, the price of the land must be taken into consideration.
In luxurious and high-end areas, expect to spend a lot of money. On the other hand, if you choose land in the outskirts of the city or a rural region, the price may be cheaper than land near the heart of the city (although this is not always the case).
A second factor that affects the cost of building a new home is the price of manpower and construction materials, which may differ from time to time and place to place. At present, there is a projected labor shortage in the construction trades so that may lead to even higher new home building costs in the years to come. The cost of construction materials — construction costs inflation — has also spiked in the past few years and shows little signs of relenting.
Square Footage. Professional Services and Timing Also Affect Home Building Costs
According to some real estate market surveys, the cost of home building ranges between $150 to $200 per square foot. So if the design you have is for a 2500 square foot house, then it the average cost you may expect is between $375,000 and $500,000. Of course, these costs will depend on your choices and preferences for things like interior finishes and such.
A third home building cost factor is the costs of professional services. If you choose to employ a professional general contractor to do the work for you — and we highly suggest you do! — the final result of a home built by a qualified home builder is well worth the money. If you want to know why just contact your local real estate agent and ask her the difference in the value of a home built by a professional versus one built by a do-it-yourself enthusiast.
As everybody knows, land price and cost of construction materials typically decrease during a recession and increase when the economy is good. Therefore, the timing of when to begin a construction project is also important in determining the total cost to build a new home. Another cost factor is high season vs slow season in regions of the country where the weather fluctuates. If you can, aim to start building out of season.
For more accurate pricing information on land, manpower and construction material costs, it is helpful to consult with dependable contractors who knows the market fluctuations related to home building. This is the best way to get the most accurate idea of the current home building costs in your area.
Type of Home Also Affects Building Cost
The cost of building a house also depends on the type of home you want to construct. Custom homes, which are becoming more in demand now because they are built to suit one’s needs, wants, and style, can easily cost from $170 to $250 per square feet.
So, if you plan to build a prairie style home with an area of 2800 sq feet, you will have to spend from $476,00 to $700,000. This is a broad cost range as variables such as home design, product selections and so forth can not be accounted for when discussing general home building cost factors.
The shape of the house also determines the cost of building your home. It is believed that rectangular, 2-story homes are the most economical to construct. So, if you are on a tight budget, you may want to choose this type of new home.
Many cost variables affect how much it will cost to build a new home. The best way to get exact budget numbers is to hire a general contractor you can trust and communicate with effectively.
Until next time… happy home building!
You want to know exactly what you will get for your money, and Craig is happy to do so by offering you specific, accurate pricing that fulfills your vision at a price that works for you. He values honesty, integrity, trust, and customer satisfaction and proudly passes these core values on to every one of his clients.
Craig Schoenberg — owner of Schoenberg Construction, Inc of Saint Cloud MN — is one of the top General Contractors in Central Minnesota. He always gives honest, fair bids with no lowball, fake pricing, and there’s no sales pressure, ever! He always uses quality materials and never engages in sloppy workmanship. Plus, his company is known as one of the very best construction and remodeling companies in town.
Give him a call today at 320-252-0911 for your no-obligation consultation.
Why Work With Schoenberg Construction to Build Your House
What We Value
What We Do
- Specific, Accurate Pricing
- Highly Skilled Carpenters
- Reliable, Skilled, and Valued Subcontractors
- Top, Quality Materials
- Unbeatable Customer Service
What You Get
- 75+ Years of Combined Custom Construction Experience
- The Project of Your Dreams for the Price You Were Promised