If you opt to build a house in the US rather than buy or rent one, there are a couple of things you need to put into consideration. You need to consider three main things when building a house in the US: location, house design, and price. The location and design of the house you want to build directly influence the price.
As a result, the cost to build a house in the US depends on your budget and needs. A typical 1500 square feet apartment will cost around $150,000 to $300,000. Whereas if you’re after more space, perhaps a four-bedroom house can cost anywhere between $200,000 and $1,000,000 depending on several factors. This article analyzes the cost evaluation of how much a house should cost at each stage.
Cost Evaluation of Stages of Building a House in the US
Based on analysis from the National Association of Home Builders in the US, we can break down the cost of building a house into seven basic stages. Your choice at each stage will greatly influence the cost, and below are what to expect at each stage.
Site Work
Considering you’ve already acquired the plot of land you want to build on, you can then proceed with the site work. The site work entails building permit fees, impact fees, sewer/water fees, inspection, architecture, and engineering. Essentially, the site work should be the first thing you do after acquiring a piece of land you want to build your house. On average, site work processes cost about $18,823, which is 6.2% of the total cost of building a house in the US.
Foundation
After completing the site work process, the next thing that should be on your agenda is to focus on excavation and building the foundation. Every house starts with a foundation, the load-bearing portion of the structure built below the ground. However, the foundation of any house must do three things: keep out groundwater, support the structure above, and act as a barrier to soil vapor and water. Excavating, building a foundation, retaining walls, concrete, and backfill for your house should cost you about $34,850, which is about 11.8% of the total expenses of building a house in the US. Although this estimate could depend more or less on the type of foundation you go for.
Framing
When you get to the framing part of building your house, expect to spend quite a bit. Framing includes sheathing, trusses, and sometimes roofing, which can be quite expensive. And framing requires hard work and a lot of planning.
It is worth noting that framing requires accuracy, efficiency, and strength, which can be quite tricky. Hence, you should hire a professional who’s familiar with the technique and building code of the area to help you out. You can spend up to $51,589, more or less, which is 17.4% of the total cost of building an apartment.
Exterior Finishes
Exterior finishes are another stage of building a house that may cost you considerably more money. Exterior finishes involve exterior wall finishes, roofing, windows and doors, garage doors, and so on. On average, the exterior finishes stage can cost around $41,690, which equates to 14.1% of the total cost of building a house in the US.
Major Systems
The major systems installation phase is also a costly stage of building a house in the US. It involves the installation of plumbing and HVAC systems, and an electrician will wire your home to get you connected to the power grid. However, no fixtures will be added during this period as this step is about setting up all the behind-the-scenes stuff like pipes and ducts. This stage of building a house can cost up to $43,668 or more, equivalent to about 14.7% of the project’s total cost.
Interior Finishes
The stage of building a house that often costs the most is the interior finishes stage. This stage encompasses fitting drywall, insulation, painting, interior trims, lighting, cabinet, appliances, flooring, countertop, plumbing fixtures, fireplace, and so on. You can expect to spend up to $75,259, or 25.4% of the total expense.
Final Steps
The final step or stage of building a house encompasses landscaping, driveways, and outdoor structures like a patio, deck, etc. You can complete this stage in the middle of the home-building project or save it for last. But on average, this final step can cost about $20,116, which is about 6.8% of the project’s total cost.
Conclusion
Overall, as you can see from this article, the rough estimate of the cost of building a house in the US varies based on your preferences. You can make several choices to lower the estimated cost in this article, and some will increase the estimate substantially. And lastly, how much you spend entirely depends on you and your budget.
