Breakdown of costs for new construction

Before embarking on a project, you should consider what it involves. This includes both the labor involved and the price. With that in mind, here are some of the most crucial steps when building a house and their average costs.

Ground

If you want to start your home on the right foot, you need to carefully choose the land it is on. However, you can’t decide just on appearance or good eyesight. A piece of land may look nice but may contain contaminants in the soil, lead to high zoning costs, or be prone to natural disasters.

Therefore, it is essential to do your due diligence and check all the factors. Failure to do so can add thousands to your construction expenses. In general, a lot can cost between $ 3,000 and $ 150,000.

Lots tend to be finished in urban areas, which means they are hooked up to water pipes, sewers, and the power grid. In comparison, you are more likely to find unfinished land in rural areas, which keeps costs down. The average cost per acre of raw land in a rural area is only $ 3,380, according to the United States Department of Agriculture (USDA) Land Value Summary.

Additionally, you will need to clear and prepare the land before you build. The national average cost is around $ 2,680 per acre of lightly forested land, but heavily forested areas can cost twice as much or more.

Building permits and regulations

Once you’ve purchased your land, your contractors and sub-contractors can begin to prepare. They will need to contact your local municipal office to receive the necessary permits. Sometimes a contractor already has a relationship with your municipality, which speeds up the process.

Building permits are official documents that authorize you to start construction on the property. However, the requirements, building codes and associated fees vary depending on where you want to build. So it is wise to check beforehand. During the construction process, a representative from the local building and zoning department will inspect the project to ensure it is up to code.

Some of the permits you might need, and their average price range, include:

• Building permit: $ 432 – $ 2,211
• Basement permit: $ 1,200 – $ 2,000
• Electricity permit: $ 10 – $ 500
• HVAC permit: $ 250 – $ 400
• Plumbing permit: $ 50 – $ 500

Contractor (s) and labor costs

The general contractor is a crucial figure in your project. This person oversees the entire process of building your home from start to finish. They take on many responsibilities, such as obtaining cost estimates, verifying and hiring a team of subcontractors, and meeting deadlines.

A general contractor is technically different from a custom house building. The latter specializes in custom homes and draws up plans, two characteristics that the general contractor does not share.

A general contractor charges around 10-20% of the total cost of construction, sometimes referred to as “cost plus”. However, some will accept an hourly rate of $ 50 to $ 150 per hour.

After that you need subcontractors. Each specializes in a certain type of installation or task, such as installing a security system or carpet. They charge a similar hourly rate to general contractors.

Foundation

The first step is the next step after you have completed all the prep work. At that time, a team comes to dig the space necessary for the foundations of your house.

However, the foundation is not the same for every house. The company will pour the concrete according to the style you choose, including the slab, crawl space and basement. The slab is usually the cheapest and the basement is usually the most expensive. The crawl space tends to be in the middle, from a cost perspective. The size will also influence how much you end up spending.

Your preferences and budget will determine which one you choose. However, each has its advantages and disadvantages. The cost of a foundation is on average $ 4 to $ 25 per square foot. The typical project costs around $ 8,450.

Here is a cost breakdown by type based on averages:

• Concrete slab foundation: $ 5,200 – $ 13,000
• Monolithic: $ 5,200 – $ 13,000
• Rod wall: $ 7,000 – $ 21,000
• Foundation of pillars and beams: $ 8,000 – $ 15,000
• Pile foundation: Minimum of $ 28,000
• Basement foundation: $ 30,000 – $ 70,000

Framing

The frame acts like the bones of your house so you can build around it. It supports all finished features including your windows, roof, doors, walls, and even garage (if you want one). The overall cost includes both labor and materials.

So you will need to take into account the time it will take to complete this part, as well as the amount of materials needed. Therefore, a larger or more complex house is likely to cost more.

Usually you can count on the framing for a cost of $ 20,000 to $ 50,000.

Exterior works

Once you have completed the basic components of interior light fixtures and drywall, you begin with the exterior. This involves the installation of items such as doors, roofing, walls and windows. This can also be the stage where builders work on walkways, walkways and patios. But some crews prefer to wait until the very end to sink the aisle.

Exterior work helps complete the look of your property and typically costs anywhere from $ 40,000 to $ 60,000. However, multiple openings and the finish you choose will affect this price.

HVAC and other major systems

Electricity, HVAC, and plumbing account for most of your system costs. This is because the installation of these systems is usually laborious. But you can’t skimp in this area since these large systems are essential to the health and safety of the occupants of the home. They also have an impact on the efficiency of your property, which means that the shortcuts will cost you dearly in the long run.

Installation costs around $ 30,000 to $ 75,000 in total, but the type and size of systems can change that.

Interior finishes

You can estimate the cost of interior finishes between $ 50,000 and $ 175,000, but only based on averages. The interior finish of the house can be much higher than that because personal preferences decide it.

You don’t make decisions in this area based on utility. Instead, you want your dream home to accurately reflect your unique style and tastes. As a result, any special touches or customization will result in higher costs. However, you may be able to reduce some of them if you tinker with features.