Determining the cost of building a new home can be confusing, as new building home prices vary a lot, simply because people want different things from a new home. There are many variables in construction quality, location and the cost of the lot, and local building material and labor costs. The cost per square foot for new homes varies from around $80 per square foot, on up to $300 per square foot, nation wide. The price varies according to real estate prices, labor costs and the quality of construction involved. It also varies based on all the extras the home owners choose to fill their home with. Let’s go over additional variables in detail.
New Building Home Prices Variable: Figuring out the Cost Per Square Foot
Determining the cost of your new home can be determined by considering the cost per square foot, of homes recently built in your area. However these figures are determined by taking the total cost sometimes minus the cost of the lot, and then dividing that by the number of square feet. This does little to explain the difference between a luxury home filled with built in marble Jacuzzi tubs, custom cabinetry and custom fire places, compared to a standard tract home with stock cabinets from the local home improvement store, and a fiberglass tub.
What most home owners need to know is what the base cost per square foot is, minus the lot and minus all the interior choices. In other words how much to build the structure, then how much for basic plumbing, electrical wiring and etc. This is a good question for your home builder or contractor. How much am I paying for house, and how much am I paying for the shiny fluffy extras? Then they could decide which extras were most important and how much each one costs. If savings are to be found in building a home they amount to overall size, layout of the home, plumbing fixtures, cabinetry and the cost of flooring. The rest is either absolutely necessary, or too insignificant to make any real difference.
New Building Home Prices Variable: Saving Money with Design
There are many money saving tips in selecting a floor plan. Obviously smaller is cheaper if you are paying by the square foot, and the savings of a smaller home will continue in lower utility bills. Heating and cooling a large home can be costly. Another way to save is in truss construction. The shorter the roof trusses the cheaper a home can be built. Anything from 18 foot up to 32 foot is fairly standard and the price for those trusses is quite reasonable. Also the lower the pitch of the roof the cheaper the truss, plus less roofing and sheeting is required for a lower roof, with less slant. In climates with very little snow, a lower pitched roof is a good way to save on the cost of the house. Most homes are between 24 and 32 feet wide, for many very good reasons. It is best to stay within these measurements.
New Building Home Prices Variable: Saving Money with Floor Plan
While no one wants a bath that opens into the kitchen or dining room, locating the bath near the kitchen is a huge money saver, as is placing adjoining baths, rather than having baths and kitchen far apart. If there is an upstairs bath place it directly over the kitchen or the downstairs bath. This saves on plumbing, and reduces the overall cost of construction.
The kitchen is another costly part of home building, but no one wants to cut too much in the kitchen. The overall quality of the cabinets or the quantity of them could be sacrificed a little, but the kitchen is the heart of a home, and so if money is to be spent it is best spent there in most cases. However a kitchen need not be large to be efficient and small kitchens work well if they are well planned.
A good building contractor or home builder can help you choose the best house plan, and save on things that are less important to you in your new home. New building home prices vary a lot, so it’s important to consciously choose which extras are important to you.
Let’s quickly recap what we’ve covered…
1. The cost of building a new home can be confusing since new building home prices differ greatly. The main reason for this is because people are different and want different things out of a new home.
2. Determining the cost of a new home can be determined by considering the cost per square foot of homes recently built in your area.
3. But figuring the cost per square foot does little to explain the difference between a luxury home loaded with custom items compared to a tract home with standard items.
4. There are many money saving tips in selecting a floor plan. Smaller is cheaper if you are paying by the square foot.
5. A homes design can greatly impact the cost for plumbing in your new home.
6. The kitchen is another costly part of home where cost can add up. But usually money spent on the kitchen is money well spent.
7. Get as educated as you can on home building cost and overall home building. Download the free New Home Steps Guide above and become smart on home building from start to finish.
I hope you found this article on new building home prices useful. Let me know if you have any questions.