A new house typically costs between $125 to $200 per square foot. For example, building a 2,000 square foot home may cost anywhere from $250,000 to $400,000 depending on the materials and location. Given the price of houses, it’s no wonder people are looking for more affordable ways to build them, and there are ways to save a little money.
Design of the Home
The cost to build a house can vary tremendously even between houses of the same square footage. For example, a 2,000 sq ft. single-story rectangular ranch-style home costs more than a 2,000 sq ft two story square colonial because the colonial’s foundation is smaller. Simple, rectangular-shaped rooms are easier to build and save on construction costs. Generally, square-shaped homes are more economical to build versus rectangular.
Cost of Materials
The materials that you choose to use to build your house greatly affect its ultimate cost. A house’s flooring, bathroom fixtures and heating and cooling systems, for instance, can vary greatly in cost. Standard “builder-grade” materials for homes are builder’s least-durable and lowest-priced materials. Quality-grade, custom-grade and ultra custom-grade home building materials are more expensive. if you’re on a tight house-building budget, builder-grade materials may make sense, though slightly more expensive quality grade materials typically last longer.
Pricing Out Costs
identifying and pricing every item used to build your house is the first step to affordability. by identifying and pricing all the items or systems comprising your home you can bid them out to subcontractors. home builders commonly bid out various house systems to subcontractors. When building your own house, make any subcontractors bid competitively. To smartly bid out your home’s construction, make sure you understand your building plans and specifications first.
Deciding on Affordability
The most affordable home is the one you can actually afford to buy or build. When building a home, be realistic and start with the amount you can actually spend and then work backward from there. You also need to be realistic about the size of the house you need. Deciding on what and where you can afford to build your house is crucial in keeping its construction costs down.