How Much Does it Cost to Build a Home?" - Answers to that Question....

By
Real Estate Agent with Coldwell Banker Schneidmiller Realty SP000

It is not unusual to have the question "How much does it cost to build a home" directed at me.   I wish there was a simple answer.   However, it is far from simple.

Let's start with the type Floor Plan/Style your home will have.   

2-Story with bonus over garage - Tim Jank and Associates - Custom Home Builders - IdahoDo you want:

Rancher (one-level home), Rancher with a Basement (one-level home with basement), Rancher with a daylight walk-out basement (1-or more basement walls are not in earth), Rancher with a Bonus room above the garage, Rancher with a bonus room above garage and a basement or daylight basement?

Do you want a 2-Story home ( a home with the square footage equally distributed on each of the 2-levels) a 2-story with a Basement, 2-story with a daylight walk-out, 2-story with a bonus room above garage, 2-story with bonus room above the garage and a basement?

Do you want a Multi-Level home, a tri-level, four-level home (homes where the Living room dining room, kitchen and a ½ bath are on the main level and then you go ½ flight of stairs to bedrooms and baths and down ½ flight of stairs under the upper level to a ½ submerged basement (your windows start at ground level and go up 2-1/2+ft.) with a family room additional bedrooms & baths?   A four level would take you down below the main level of the home to a fully submerged basement for additional space.

Tim Jank and Associates - Custom Home Builders - Rancher w/Bonus RmDo you want a Split-Entry home?  A split entry is where you enter the Entry of the home on the main-level and then have to go up or down a full flight of stairs to go to the living areas.  Upstairs are usually a Living Room, Dining Room, Kitchen, bath and bedroom(s).  Down stairs are usually a family room laundry room, bath and additional bedroom(s).  The down stairs is ½ submerged into the ground (windows start at ground level and go up about 2-1/2+ft).

 

There are even more styles than these, but I think you get the idea of the many different Floor Plan Styles.

Let's say you want to build a home that has a total of 2,000 sq. ft. and you want the Style/Floor Plan that will give you 2000 sq.ft. for the LEAST amount of money.

Two Story - Tim Jank and Associates - Custom Home BuildersHere are the home Styles/Floor Plans in the order of Least to Most expensive to build 2000 sq. ft.

1. Split-Entry

2. Multi- Level

3. Rancher with Basement

4. 2-Story

5.  Rancher

The least expensive 2000 sq. ft. Style/Floor Plan to build is the Split Entry. 

But, let's say you don't like the idea of having to go up and down flights of stairs to get into the house or to go between levels.  Then you would opt to pay a little more for your 2000 sq. ft. by going to the Multi-level with allows you to enter the home without having to use stairs.  Once you are inside the main-level of the home the flights of stairs to the different levels are shorter flights or ½ flights.

Rancher with Daylight Walk-out BasementNow you have decided that even ½ flights of stairs are more than you want to deal with getting to and from the living areas you use on a daily basis. That would take you up another price level to Rancher with a Basement (1000 sq. ft. on the main level and 1000 sq. ft. in the basement).  Most of your daily living needs would be on the main level.  Living room, dining room, kitchen, bath, your bedroom.   The basement would have your Family room, hobby room, guest room, bath room and possibly a laundry room unless you want it upstairs. (Add more money for a daylight walk-out basement).

So, you don't like basements, walk-out or otherwise.  Then you would go up another price level to the Two-Story home (I think we all know what that is)

After all that... you have now decided that you don't like stairs at all... nada... zip... Well, you have just found the most expensive way to get 2000 sq. ft.  It is called "The Rancher" or One-Level home.  All 2000 sq. ft.  are spread out on the same level.  No stairs. 

WE ARE NOT DONE YET!

Once you have decided which floor-plan best suits your needs for that 2000 sq. ft. home, you have to decide what amenities or upgrades to the home are the most important to you.  I.e., Granite, stone, tile, kitchen, baths, fireplace(s), lighting, moldings, floorings, siding, roofing, flatwork (patios, pathways).

To give you an example:  A full kitchen appliance package could be done for $2500 or it can be done for $100,000.   A full lighting package could be done for $600 or $60,000. It all depends on your specific needs and wants. (these are generalized prices not exact).

WE HAVE OTHER ISSUES!

The lot (Land) you choose to build on will dictate the type of floor plan you will be able to build.  The  slope, steepness, levelness, shape, width, depth, etc... of the lot (Land) has much to do with what you can build.  Different types of lots have different ADDED costs to build.   Do you need retaining walls, a longer driveway, additional engineering costs, etc? 

**That great buy you got on your lot (land) may have had allot to do with your unseen "ADDED COSTS" to build.**

Are you starting to see the "DIFFICULT to ANSWER" Part?

If I had to generalize, using a 2000 sq. ft. Rancher on LEVEL & STABLE lot with average size driveway and utilities to the property (The per sq. ft. costs are relative to our area in Kootenai County, IdahoYour local areas per sq. ft. costs may or will differ):

  1. An entry level (simple design, inexpensive grade materials, no bells or whistles!) 2000 sq. ft. one-level  "Rancher" with a 2-car garage could be built for as little as $75+/- per sq. ft.
  2. A moderately priced one-level 2000 sq.ft. "Rancher" with a bit of higher end amenities and building materials (siding, roof, stone, etc) and a bit higher kitchen, bath, flooring, counters and lighting allowance could be $100+/- per sq. ft.
  3. A very nice one-level 2000 sq. ft."Rancher"  with a 3-Car garage and really good blend of higher end building materials, amenities, and style could be $140+/- per sq. ft. (See 2nd Photo "Rancher w/Bonus Rm")
  4. If you are the type of person that has to "HAVE IT ALL" you could be looking upwards into the $200-$300 per sq. ft. range.

I have barely touched on the things that determine your "COSTS to BUILD." This has been a generalization.  Your specific needs and/or type of land you are building on will reduce or increase the "Costs to Build"

The State, City, Town, and or distances to where building materials are available will also make a difference in "Cost to Build."   Accessibility to your property can be another issue.

As building material costs change... so do the "Costs to Build"  Also, when a market is "Slow" addititional savings can be made due to the reduced "Labor" costs.

So, as you can see, the "Cost to Build" is very relative!

--------------

If you are looking to have a custom home built here in the Kootenai County, Bonner County, Shoshone County, Benewah County areas, please give me a call.  We are more than happy to work with you on your "New Construction" needs and provide you with actual costs for your specific needs.  Contact: Tim Jank & Associates (Custom Builders) at: 208-661-2008

Please contact me with any of your Real Estate / Relocation / Referral needs:

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CONTACT INFO:

Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)
Your North Idaho Real Estate Pro
www.SellingNorthIdaho.com - Your Free Local MLS Property Search Link
208-661-2282 or Toll Free 800-829-2555 ext. 1275
Coldwell Banker Schneidmiller Realty
1924 Northwest Blvd, Coeur d'Alene ID 83814
 

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Tim Jank 05/19/2009 05:15 AM
  2. Foster Ferryman 08/19/2014 11:07 AM
Topic:
Real Estate General Information
Location:
Idaho
Tags:
homes for sale
coeur dalene
north idaho
builder
home construction
cost to build
construction costs

Anonymous
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Rainer
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Tim Jank
Jank & Associates - Coeur d'Alene, ID

Pam, thanks for simplifing the differences in construction costs for different syle of homes.  Now buyers know why they get so much more square footage in a Split Entry (Split Level), muli-level home than in a 1-level home at the same price.

Jun 07, 2009 12:27 PM #1
Rainmaker
679,620
Jeff Jensen
Annie Mac Home Mortgage - Greenwich, CT

The cost per square foot varies widely from town to town.

Aug 18, 2014 02:42 PM #2
Rainmaker
505,286
Sarah Oswald
Eastvale Team Realty & Property Mgmt - Corona, CA
Broker, Realtor, CDPE, CIAS, SFR , Investor

Pam - thank you for clarifying the different types of style/floor plans. This info will come in hand for those looking to design and build their home.

The cost per square foot will also vary widely on the builder and material used.

Aug 18, 2014 02:53 PM #3
Ambassador
770,525
Debb Janes
The Carl Group, LLC - Camas, WA
REALTOR®, EcoBroker Camas, Washington

I get that too - no simple answer. And, all of those interior finishes and quality levels add to the bottom line. Informative post, Pam. 

Aug 19, 2014 08:53 AM #4
Rainmaker
1,238,501
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

Pam - Thanks for the very good report about how much does it cost to build a home.

Aug 19, 2014 02:06 PM #5
Rainer
285,746
Dan Hopper
RE/MAX Alliance, www.danhopper.com - Westminster, CO
Denver Realtor Advocate/Short Sale/Loan Modificati

Yes Pam, building a new home sounds simple, but never easy to step right in and accomplish.  Especially, outside of a new home subdivision with a proven builder.  

Aug 20, 2014 04:38 AM #6
Rainmaker
408,506
Pete X with X Group Real Estate Advocates, Huntington Beach, CA 714.459.2017 OCLister.com
Investments to Luxury - Huntington Beach, CA
Outstanding Agent Referrals-Nationwide

Great post explaining the great variations in building cost and the many reasons for that.

Aug 20, 2014 10:03 AM #7
Rainmaker
93,020
Sheri Sperry
Re/Max Sedona - Sedona, AZ
(928) 274-7355 ~ MCNE, SRS, CRS, Past-Pres. SLREP

Building a custom home requires talented people with the ability to take your vision and put it in design and then build it. 

Aug 20, 2014 10:42 AM #8
Rainmaker
130,045
Gordon Wood
Canyon Ridge Realty LLC - Scottsdale, AZ
480.226.2842

This was a very well done article. How many questions were answered? In Real Estate industry is all starts with location. Thanks for the read.

Aug 20, 2014 11:14 AM #9
Rainmaker
613,213
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
Sabinske & Associates Inc.

Now, we have a frame of reference at least.  I used to do almost exclusively, new construction back in the day.

Aug 21, 2014 01:27 PM #10
Rainmaker
1,238,501
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

Pam - Thank you for the great report on how much does it cost to build a home.

Aug 21, 2014 05:16 PM #11
Rainmaker
26,463
Jim Cramer
EXIT Preferred Realty - Waynesboro, PA
A Preferred Professional

Thanks for the Great Information!  People think they want to build until they realize how much there is to consider.

Aug 21, 2014 07:25 PM #12
Rainer
171,536
Rose Mary Justice
Elite Realty Group - Dandridge, TN
Elite Realty Group

Just starting to work with new construction.  It is harder than you would think.

After you choose your plan and tweak it to fit your needs then Take into consideration colors, cabinets, flooring, brick, vinyl and the list goes on.

It certainly adds up quickly.

Aug 22, 2014 12:33 AM #13
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Rainmaker
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Pam Jank

Your Coeur d'Alene & North Idaho Real Estate Pro
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