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Question DetailsAsked on 1/16/2017

how much would it cost to build a 1640 sq ft home?

3 bed
2 bath
laundry
kitchen
2 covered porches in back
1 large front porch

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From about $75 and likely a bit more in cheapest areas (deep South single-story ranch or veranda to about $350-400/SF in most expensive areas, for normal construction and not exhorbitant or ultra fancy materials. Commonly around $100-150/SF for tract or suburban houses in most of the nation, though in places like the highest-cost areas of urban big cities (SF, NYC, Boston, West LA, and their expensive suburbs, etc) it can run more in the $400-600/SF range - though in those cases you are not looking at comparable "average construction" either, because in upscale areas you get upscale building design and materials so the per SF costs are not really comparable to the house you would get in lower cost areas.


For the last complete reporting year (2015) the "average" house in the USA, according to the NAHB and US Government figures, is on about a 18,00-20,000SF lot (slightly under 1/2 acre) and has about 2600-2800 square feet of floor area, and costs about $455,000-468,000 complete, with about 62% of that cost typically being the actual home construction costs, with the rest land, financing, architect, closing costs, etc, etc.


Don't forget the other costs like design and closing and finanacing and such in your budget - here is a typical breakdown for those type of costs, and searching for the NAHB info for your area will give you a pretty good initial view for your specific locale -


https://www.nahbclassic.org/generic.a...


You can also find some previous responses to that question in the Angies List > Project Cost Info link under Browse Projects at lower left - though there are a lot of types of project costs in there other than entire houses, so you would have to wade through for the new-construction category.


Other sources - google a search phrase like this for NAHB (National Association of Home Builders) info for your area, putting in your nearest city area of course where I have put Seattle as an example - NAHB home building cost Seattle.


You can of course also check the MLS (Multiple Listing Service) for your area (start at Realtor.com) for the cost of new construction homes, and for specific areas you can commonly find the area property and house valuations on the local tax asessor's website. Be careful using government assessed values though - they are commonly 10-30% lower than actual market cost, but if you use actual MLS sale prices as the "total cost" for a house and size in your area, if you have the land already you can use the Assessor's website info to figure the average percentage of land versus property value in your area (commonly about 20-30% land value except in really land-short areas), then apply the house cost percentage you get from there to the MLS new construction property listings of similar homes (which include land of course) in your area of interest to estimate the new home cost. Obviously this is not entirely accurate, but generally new and recen tly built home construction cost is directly reflected in MLS home sale prices, because that is what they are competing against, and obviously new construction homes on the MLS are based on actual construction cost plus maybe up to about 10% additional profit, so the MLS prices establish a limit on pricing for both recent-build previously owned homes and new construction - be it custom build or spec homes.


Also - once you have a conceptual design worked out with your architect (you will need Architect's drawings and specs to get a building permit, and for bidders to bid on and the successful bidder to build to, so this is not "extra" cost) he/she can provide a preliminary construction cost estimate, as well as help with builder recommendations.


Builders - Homes would be your Search the List category for a builder, BTW.

Answered 1 year ago by LCD




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