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Calculating the Costs: How Much Does It Cost to Build a House?

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Did you realize that over 64 percent of Americans own a home? When the time comes to buy a home, a person will have to figure out whether they want a new or pre-owned home. If a person has a number of unique features in mind for their new residence, then having it constructed from the ground up is a good idea.

One of the biggest misconceptions most people have about building a new home is that it is out of their price range. In reality, having a home built is an affordable option if you find the right builder.

Assessing the cost to build a house is the first thing you need to do to start this journey. By figuring out how much your dream house will cost to construct, you can properly budget to make this dream a reality.

The following are some of the things you need to know about the cost of building a home.

Buying Property and Making Plans

The first thing you have to do before starting the home building process is finding and buying a piece of land. Rushing through the land buying process may lead to lots of headaches in the future. Instead of trying to make this important decision on your own, consulting with a real estate agent is a must.

Once you have found a piece of land that is level and in pristine shape, the next thing you need to figure out is how to draft the plans for your home. Starting this process with a rough outline is a good idea. Figuring out how many bedrooms and bathrooms the home should have is vital.

With this information, you can start to schedule quotes with builders in your area. These quotes will give you an idea of what the home will cost to construct. Be sure to use a construction calculator to get an accurate quote on how much your new home will cost.

Assessing the Cost of Site Work

After you buy a piece of land to build your home on, you will need to pay to get site work done. This work will cost roughly $16,000 to complete. The site work consists of things like inspections, building plans and permits.

The highest cost you will incur during the site work process is the fees associated with a sewer inspection. However, you will be unable to proceed with the building process without this inspection and approval. Once your water inspection is completed, it will be time to get a building permit.

You will also need to hire an engineer and architect to draft blueprints for your new home. The last thing you will need to pay in regards to site work is an impact fee. This fee runs about $2,000 and helps to pay for things like parks, roads and water treatment facilities in your community.

The Foundation Can Be Costly

The only way to ensure your new home stands the test of time is with a solid foundation. In most areas, a home foundation will cost you about $26,000. The foundation laying process starts with extensive excavation work performed with heavy duty equipment.

Once the area in question has been excavated, the foundation professionals will start to layout this important part of your new home. In some instances, you may need to get retaining walls installed to keep crumbling soil off of your foundation.

The key to getting a solid and reliable home foundation is hiring the right professionals for the job. Doing some research and getting a few onsite estimates can make hiring the right company much easier.

The Framing Process

The next step in the building process is framing. Often times, framing work will cost around $41,000 to complete. As the framing process unfolds, your new home will begin to take shape.

The professionals doing this work will install trusses and lots of lumber to frame out the various sections of the home. Think of the frame as the skeleton of your home. Being around during this process will help you to spot any issues that need to be addressed right away.

While it may take a while to frame out a home, it is worth the wait. The last thing you want is for the structural components of your home to be weak due to a rushed building schedule.

Finishing the Exterior of the Home

Once the frame of a home is up, it will be time for professionals to start the exterior finishing process. In most places, this work can cost about $33,000. During this process, professionals will put on the roof and will install door openings.

Choosing the right roofing material is only possible with some professional guidance. If you are looking for a roofing material that is durable and affordable, then going with metal is a good idea.

Finishing the Interior

The last step in the home building process is finishing the interior. Often times, this will cost upwards of $68,000.

Professionals will put up drywall, install cabinets and put in plumbing fixtures during this phase of the building process. Usually, this will be a long and drawn out process due to the massive amount of work involved in finishing the interior portion of a home.

Don’t Underestimate the Cost to Build a House

The only way to properly predict the cost to build a house is by working with a reputable and trustworthy construction company. These professionals will be able to provide a person with an itemized quote, which can be extremely helpful.

Before hiring professionals to do this work, a person will need to get a look at their previous work. Looking at a company’s portfolio will give you an idea of how skilled they truly are.

published | June 10, 2019