How Much Does It Cost to Build a House?

If you’re thinking of building your own home, you’re probably wondering how much the whole process will cost you. To many, having a house is security on its own. There is nothing that feels as good as having a house of your own and escaping the hustle of having to pay monthly rent or even being bothered by your landlord.

If you've seriously considered building your own house, it will be wise to know the most specific details involved in the process, as well as how much it will cost. This article should guide you along the way. Read on to learn more!

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What Does Building a House Entail?

Building a house refers to putting up a structure for residence. You can either build to reside in it, rent it out, or even sell afterward. There are so many designs available on the market to choose from; it’s all about getting a professional engineer to help you put your plan on paper and ultimately, build your dream house.

How Much Does It Cost to Build a House?

The Average Cost of Building a House Worldwide

Costs of building a house will obviously differ from country to country. In the end, cost will be affected by many factors, including the cost of materials, labor, and also how big the house is. Most homeowners agree that the average cost of building a 2,800 square foot house is around $428,000.

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This means that it would cost $153 to build a square foot. Keep in mind that this will vary depending on factors like geographical location or neighborhood ordinances.

Building a House Cost Breakdown

If you have already-purchased land, plus other basic building materials, then you will be pretty much good to go. Let us break down the other costs, though.

  • $33,000 on the foundation, which includes excavation and retaining walls
  • $11,744 on walls, especially the dry walls
  • $12,000+ on windows and door installation
  • $10,000 for roofing your house
  • $9 -$12 for hardwood flooring (per square foot)
  • $12,000 for the plumbing system
  • $6,000 for the exterior details, such as landscaping, driveway, garage, patio, deck, and walkway(s)

Factors Affecting the Cost of Building a House

Among other factors affecting the cost of building a house include the size of the house. How many square feet will it be? The design, if a simple design, will cost less. If you are planning to build a house with rounded walls, lots of corners, or curved staircases, be ready to part with a decent amount of money. Materials used, such as granite, real wood, fancy sinks, or crown molding will also affect the costs of building a house.

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Additional Costs Associated With Building a House

The cost of labor, upgrades (such as choosing specific paints to use), or even adding extra bedrooms can also affect the cost of building a house. Building materials also contribute to the cost of building a house, so you'll want to keep an eye on your construction crew to ensure efficiency of materials. This is because materials such as sand, bricks, stones, granite are expensive in certain areas where they are not readily available.

Conclusion

Building a house can be one of the best investments you will ever have in life. But it will also be a costly investment that you will likely end up paying off over many years. To ensure you make the best decisions in building your home, remember to consider factors that will affect how much you pay!

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