Every person’s dream is to have his own house with the style, color, interiors, and exteriors that he wants. If you are now one step closer to building your home, you have to understand how much money it would cost you so that you can prepare it ahead of time and prevent yourself from feeling overwhelmed. It is no joke to build a house from scratch since it will require a huge amount of money, a lot of effort, and months before it will be completely constructed. Despite these, there are still plenty of reasons why it is a better option rather than purchasing an existing home. You can manipulate it however you want so that you can achieve the design that you have envisioned. For instance, if you want modern living spaces, you may opt to use neutral colors for the walls. Besides that, everything will be new from the sofa to the sinks and dishwasher.
Today, the average cost of building a new home is $290 000 but according to the U.S. Census Bureau, it is higher at $390 000. These are just estimates because it still varies depending on where you want to construct it, its square meters, and the materials used.
Cost depends on the region where the house will be located
The region has the biggest contribution on how much your house will cost. In the Northeast side of the US, the average sale price per square foot good for a single-family is $160.00 while in the West, South, and Midwest costs $150, $105, and $110 respectively. If you plan to build it in rural areas, you should anticipate the ancillary costs for septic systems or sewer hookup installation.
The budget guide in building a house
You must enjoy the process of building your home and make sure that it will turn out the way you want it to be. Maybe you want a modern living space, a kitchen that catches the morning sun, or a vintage-style sofa. It is only possible to have all of them if you have enough money to purchase everything it needs from cement to the paint and the furniture pieces. Check out the budget guide below to have a glimpse of the idea of the average cost in constructing your dream house.
The foundation of the house
The foundation of the house must be sturdy, stable, and durable since it will bear the weight of the entire infrastructure. To ensure that it will last for a lifetime, you have to invest in high-quality materials, use more rebar and excavation. For the foundation alone, the average cost of installation is $9 000 but it can be lower if you want to have a simple slab on the lower end. The basement foundation is used if you want a modern living space.
The framing of the house
The framing of the house is important to take seriously as it will dictate if you will have a modern living space, an old styled-house, or a minimalistic one. It is the process of putting pieces together to give our house support and shape. For this part, you will have to spend $25 000 to $50 000 but it can be higher since the pieces of lumber materials to build it are continuously increasing.
The finishes and fixtures of the house
Are you looking forward to hardwood flooring to create a modern living space? If yes, the cost per square foot would be $5 to $6. For your kitchen, if you want a high-end granite countertop, you will have to prepare $50 to $$100 per square foot.
The appliances in your house
A house will never be complete without appliances like a refrigerator, dishwasher, and dryer. Buying appliances is one of the home upgrades you can make. It will be your first time purchasing large appliances, make sure to first do your research. It will allow you to determine the best brands to buy from and their price ranges so that you can add them to your calculations.
In a Nutshell
Building a house is both a challenge and a source of happiness. From the budget guide above, you probably realized that it will cost a huge amount of money. In fact, it can even be higher depending on your needs and desires.
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