Money Talk With Slater

Making Money Across the Board

How Much Money Does It Cost to Build a House (Part I)?

Build a budget as strong as your new house’s foundation.

Perhaps you’ve always dreamed of having your own house. You’ve weighed the good and bad of whether to buy or build, and you’ve decided to build. But how much does it really cost to build a home these days? And what will you have to pay for that you don’t see coming?

The average cost to build a house is around $430,000. That estimate is based on a 2,800 single-family house. 

So, before you go to the bank, pump your brakes. Everybody’s wants are different. The cost to build a home is based on factors such as location, size, labor, materials and current real estate trends, which make it hard to nail down a precise one-size-fits-all answer. So, let’s look at the average cost to build a home in every stage.

Before You Begin

So, you want to build a home. Great. But so, did the three little pigs and we know what happened to them. Two of the pigs want a house of straw and sticks. The other pig built a durable home of brick. When the wolf came along, the only home left standing was the one that was built by brick.

Similar to the three little pigs, to safeguard your future, you need to create a budget before you build your home.

Buy the Property

If you haven’t already purchased the property where your home will be built, find a knowledgeable real estate agent. These pros can help you hunt down and negotiate a deal on land for the ideal to build your home. A good agent will know about up-and-coming areas so you can plant roots in a location that’ll make your house more valuable over time, which is what you want whether or not you decide to remain in it for the rest of your life. 

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