How much is it to build a new house?

RobbMeeX · 04-10-13, 10:10 AM

I'm aware of the ambiguousness of the question, but im our house hunting, I'm beginning to think new construction might be the way to go. I just have no clue how to estimate a structure with say 4 walls and 2 floors... Any help on how to figure a price in new construction?

hamsterpower · 04-10-13, 10:48 AM

The land is the biggest expense first. Once you have that you can estimate by the square foot size you want, times the average cost per square foot in your area. It varies widely by location. Get an idea by looking at local real estate ads.

razor02097 · 04-10-13, 11:12 AM

Before I spew all the information I have collected over the 2 years I have been looking at houses, I have to ask... What is stopping you from buying a house? Are you working with a good realtor? If you aren't yet it would be in your best interest to find one... It took my realtor about 2 days to do what I couldn't in 2 years!

One of the things I have considered was building. There are several options you can explore. I will give you basic information about each.

Modular homes - Are homes that basically arrive in preassembled parts on trucks. The home is basically bolted together in large pieces. Most homes you buy from contractors with prepared floor plans use modular home pieces.

Pros -
Home is built quickly
Cheaper than custom homes
Some customization options available

Cons -
Typically you have to pay everything up front which can be bad if you were counting on moving in right away.

Prebuilt houses - Typically houses that are built for an investment person or firm (people that basically buy a large piece of land then develop it into a neighborhood).

Pros -
Ready to move in
many times house warranty is included
may already be furnished in some cases

Cons -
pricey for what you get (you are paying for convenience)
cookie cutter floor plans

Custom builds - There are 2 ways you can do this... First is to hire someone to coordinate everything. This is typically what you do when you go to a business. They can do everything from finding the land to laying the last brick. Convenient but a lot of hands to pay. The other way is to go the DIY approach. You go to an architect that can put the plan in your head on paper so people you hire to build can understand what to do. This can save a massive amount of money and allows you to pick and choose who to hire for each task. However you need to think of everything... from permits to rescheduling. There is a lot of stress but in the end you literally get exactly what you want.

Pros -
You get exactly what you want

Cons -
expensive
wait time for construction
financing can be tricky

Basically I looked into new homes and options but quickly discovered it wasn't for me. You should be able to get a cookie cutter small modular house in the 120's. Keep in mind you still need to pay for the land it goes on. Also keep in mind YMMV a lot depending on location, companies and other factors.

Hope that helps you, and don't give up on the house search. New housing will always be there... you might find that perfect home that needs little work or none at all.

04-10-13, 10:10 AM	#1
RobbMeeX Eco OWNER!! Join Date: Jul 2012 Location: ATL Posts: 99 Thanks: 25 Thanked 7 Times in 6 Posts	How much is it to build a new house? I'm aware of the ambiguousness of the question, but im our house hunting, I'm beginning to think new construction might be the way to go. I just have no clue how to estimate a structure with say 4 walls and 2 floors... Any help on how to figure a price in new construction? __________________ In it for the money (savings)

04-10-13, 10:48 AM	#2
hamsterpower Apprentice EcoRenovator Join Date: Oct 2009 Posts: 142 Thanks: 0 Thanked 11 Times in 11 Posts	The land is the biggest expense first. Once you have that you can estimate by the square foot size you want, times the average cost per square foot in your area. It varies widely by location. Get an idea by looking at local real estate ads.

04-10-13, 11:12 AM	#3
razor02097 Helper EcoRenovator Join Date: Mar 2013 Location: 245862 Posts: 43 Thanks: 12 Thanked 3 Times in 3 Posts	Before I spew all the information I have collected over the 2 years I have been looking at houses, I have to ask... What is stopping you from buying a house? Are you working with a good realtor? If you aren't yet it would be in your best interest to find one... It took my realtor about 2 days to do what I couldn't in 2 years! One of the things I have considered was building. There are several options you can explore. I will give you basic information about each. Modular homes - Are homes that basically arrive in preassembled parts on trucks. The home is basically bolted together in large pieces. Most homes you buy from contractors with prepared floor plans use modular home pieces. Pros - Home is built quickly Cheaper than custom homes Some customization options available Cons - Typically you have to pay everything up front which can be bad if you were counting on moving in right away. Prebuilt houses - Typically houses that are built for an investment person or firm (people that basically buy a large piece of land then develop it into a neighborhood). Pros - Ready to move in many times house warranty is included may already be furnished in some cases Cons - pricey for what you get (you are paying for convenience) cookie cutter floor plans Custom builds - There are 2 ways you can do this... First is to hire someone to coordinate everything. This is typically what you do when you go to a business. They can do everything from finding the land to laying the last brick. Convenient but a lot of hands to pay. The other way is to go the DIY approach. You go to an architect that can put the plan in your head on paper so people you hire to build can understand what to do. This can save a massive amount of money and allows you to pick and choose who to hire for each task. However you need to think of everything... from permits to rescheduling. There is a lot of stress but in the end you literally get exactly what you want. Pros - You get exactly what you want Cons - expensive wait time for construction financing can be tricky Basically I looked into new homes and options but quickly discovered it wasn't for me. You should be able to get a cookie cutter small modular house in the 120's. Keep in mind you still need to pay for the land it goes on. Also keep in mind YMMV a lot depending on location, companies and other factors. Hope that helps you, and don't give up on the house search. New housing will always be there... you might find that perfect home that needs little work or none at all.