The price includes excavation and erection of a concrete foundation, all materials and labor.
Building a home is the best option for those looking to have the design of their dream (which is usually hard to find in the secondary house market). Moreover, it is often less expensive than buying an existing home.
This calculator provides a variety of options for you to choose from. You can customize flooring options, number of bathrooms, roofing and siding materials, type of windows, add a garage or deck, etc.
The tool also has a progressive cost per sq. ft. formula, so you can get the most accurate cost estimate. This means that when your Total square footage is LESS than 1,500, the cost / foot gradually increases to account for additional expenses incurred by the builder, with fewer "billable" square feet.
How To Use The Calculator1) Enter the foundation size of your home (do not include garage)
2) Enter the number of bathrooms. Note that each additional bathroom requires additional plumbing and materials.
3) Choose build quality. This includes your kitchen, HVAC system, insulation, framing, and other options that you "cannot" select in the calculator.
4) Select the number of levels (floors). Note that living area as well as the amount of siding and the number of windows will proportionately increase with the number of additional floors.
5) Select your roofing and siding (exterior) materials.
6) Extra options: you can select Garage and Deck size as well as windows options.
7) Choose your location: Note that construction prices vary greatly depending on your region, and this includes both labor and materials. The difference can be between +11% for Pacific region to -5% for East South Atlantic region.
Click calculate, and you will have your personalized estimate!
Note that this estimated cost does not include the following:
- Demolition or land clearing
- Plot leveling / site work
- Architect / house plans fees
- Permits, engineering reports, and other paperwork
On average these misc costs can range between $15,000-30,000, excluding land and demo works.
How Much Does It Cost to Build a New House?
Homeowners across the US report spending an average of $190,000-420,000 to build a 2,000 sq.ft. house. In many middle class areas, the cost of construction for a 2,000 sq.ft. space os $295,000 This is equivalent to the price of $147.5 per square foot.
However, the average building cost per square foot can be $95 - 225, depending on a number of factors, such as:
- local labor costs
- architectural house style
- number of floors
- number of bedrooms
- number of bathrooms
- quality of building and finishing materials
- fees of an architect/design professional
- building permit costs
- custom vs. pre-fabricated home design
Remember that in addition to the cost of building a home, you need to budget for the cost of the land, as well as clearing and finishing the lot, landscaping, etc. Adding extras such as a fence, a pool, a deck, will further increase your total construction cost.
According to the National Association of Home Builders these additional expenses make up about 20-25% of the total building cost, where as the house itself takes up 75-80%
When planning your budget for a custom built home, figuring out the quality of materials and finishes you want to use will make a huge difference in the final price. The cost of materials varies widely, so the products you select will add or subtract tens of thousands of dollars off the total building cost.
For example, you can install a GAF asphalt shingles roof on a 1,500 sq.ft. home for about $5,000-6,000 or a standing seam metal roof of the same size for $12,000-13,000.
Among the most expensive items in a new construction project are:
- Kitchen cabinets and countertops
- Any special bathroom features: sauna, steam shower, jacuzzi, etc
You can use our detailed Remodeling Costs Guide to get accurate estimates for the cost of the most popular interior and exterior remodeling projects.
Cost of Professional Labor to Build a AomeBuilding a new home typically requires the help of a General Contractor (GC). He oversees the entire project from start to finish, hires and pays all the necessary subcontractors, pulls permits, and buys building materials on your behalf.
A general contractor does NOT charge per hour. She usually takes 10-20% of the total house building cost. For example if your new home costs $350,000, you can expect that the GC will charge $35,000-50,000 for her services. Many general contractors ask for a portion of this fee upfront.
Its very important to draw up a detailed contract with your general contractor that includes their fees, itemized scope of work, list of materials, completion time line, potential extra fees or hidden/unexpected expenses, as well as the payment schedule.
Be sure that EVERYTHING is in writing! Many homeowners get burned when they verbally agree on one course of action and price with their General Contractor and then things "change" (i.e. cost you more money) when the project starts.
When undertaking such a massive project, its not worth it to try to save a few bucks on the cost of labor. ONLY hire a general contractor who is licensed, insured and experienced in residential construction. He should provide you with at least 3 glowing references of recently completed projects that are similar to yours.
Compare the Cost of Prefab Homes vs Original DesignOne of the biggest factors that will lower or increase your construction costs is whether you want a custom designed house or a prefabricated one.
While an original architectural house plan has the tremendous benefit of giving you exactly what you want, it also costs significantly more.
Custom homes can range in price from $150 -1,000+ per square foot, depending on the size, architectural complexity, materials, etc. Such a house will also take significantly longer to construct than a prefabricated structure.
By comparison, a prefabricated or modular home can cost at least 25-35% less than a custom one. A small prefab house under 1,500 sq.ft. without numerous customizations can be as little as $50-60,000. Average size prefabricated house (1,600-1,800 sq.ft.) costs $130,000-200,000, without major modification. It is important to keep in mind that modifications, depending on what you are looking to change or add, will drive up the initial price by as much as 30%.
These can include things like a 2-car garage, better roofing and insulation materials, high-end kitchen appliances, hardwood as opposed to engineered wood floors, better quality siding, more expensive windows, etc. Still, you will be getting a brand new home that will be cheaper than building a custom design from scratch.