Building a New Home? Find Out How Much It’ll Cost Here!

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Building a new home is hard. It’s stressful and costs a lot of money. In order to be better prepared for the money side of it we found this great article that will help you better prepare for how much your home will cost. We hope it helps!

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From the article:

We’ve all heard the adage: If you want something done right, do it yourself. Is that really true when it comes to building a home? Can you really afford to build your own house?

This home build cost calculator guide will help you identify and account for all the major expenses that go toward building your home.

By following this guide you can get a rough estimate of what materials will cost and an idea of the additional expenses you’ll need to shell out for contractors and labor in your region.

We will look at everything from getting home building plans to contractor rates to construction costs. Specifically, this home build cost calculator suggests accounting for:

  • Design and architect costs.
  • Construction and labor costs.
  • Standard materials costs.
  • Upgraded and special components costs.
  • Miscellaneous costs, such as building code inspections and special permitting.

What is the average cost per square foot?
Using a cost-per-square-foot measurement will help you make an objective analysis of any home you hope to build.

The average building cost per square foot is roughly $80 in the U.S., according to the National Association of Home Builders (NAHB). They released a “New Construction Cost Breakdown” (2011) study showing the average finished area in a home to be 2,311 square feet, and the average construction cost breakdown for that space to be $184,125.

To calculate your average home building costs, take your estimated construction cost and divide it by the square footage. The formula for quick reference:

Total Costs / Square Feet = Cost Per Square Foot
The average U.S. home size was 2,392 square feet in 2010, according to the latest data from the U.S. Census Bureau. This was a 5 percent decrease from 2007. The trend toward smaller, more efficient homes is holding steady. Yet larger homes will likely make a comeback with the rebounding of the economy.

Interested in how building codes work? Then checkout this article with building codes that could be of interest to you.

Read the entire article here:

Building a New Home? Find Out How Much It’ll Cost Here!
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