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A new home is always considered a milestone in life, especially if it’s your first, whether you are buying an existing place or building from scratch. Here, we look at the price tag on building your own home, which has the benefit of everything being shiny and new, right where you want it, with better green ratings and better efficiency. We break down the costs involved and help you to get a better idea of how the lump sum is divided, so you can plan for possible savings, and have a better understanding when your contractor starts talking shop, especially if this is your first build.
A graphic breakdown of the construction costs
The graphic above is based on data taken from the NAHB’s construction cost survey, conducted in 2017. The survey is based on the responses from 4,267 home builders and the costs indicated are for a single-family home, with a lot size of 11,186 square feet and an average finished area of 2,776 square feet. The costs include costs to the builder including labor, cost of materials and charges by subcontractors.
