How Much Does it Cost to Build a New House 2020

Do you dream of the perfect home? Depending on your taste and budget the only way to get the perfect home is to build it yourself.

Sound intriguing? How much does it cost to build a house in 2020? Is it something that would be feasible for you as compared to buying an already built home? Let’s take a look at what you can expect to pay.

Don’t forget you need to submit a site plan to get a construction permit. Check out Mysiteplan for more information regarding site plans and permits! 

What You Need to Start Building a House

There are a few basic things you’ll need to get straight before you begin. Your budget (we’ll help you start your estimate in this article), a location, a builder, a house plan, and the necessary building permits. 

Getting a site plan can help bring all this stuff together quickly and easily. For example, with a site plan, you can show your building department what your plan is to get your building permit. You can also use it to get approval from the local HOA if applicable. 

Now let’s take a look at the average costs to build an average-sized 2,400 square foot home.

Cost of Residential Construction Site Work 

First, you will need to prepare the site. This includes installing a septic system and well if municipal sewer and water lines are not available and hooking into them if they are. 

If there is any water on the property, you must order an impact study, which can drive up the cost significantly. Be aware that wetlands or a high water table on the property can impact a site’s buildability.  

Cost breakdown:

• Total cost on average: $14,355
• Possible cost range: $10,000-$25,000
• Percentage of the total home cost: 5.6%

Let’s break that down even farther:

• Building permits, inspections, fees, etc: $3,650
• Impact study, if applicable: $1,750
• Site engineering and architecture fees: $4,600
• Well: $4,500 or water hookup: $1,500
• Standard septic system: $3,700 or engineered septic system $13,500 or sewer hookup $2,500

Related: WHAT TO INCLUDE IN YOUR SITE PLAN?

Alt-text: brown front loader

Cost of Excavation and Foundation Installation

Now it’s time to physically prepare the site by clearing brush and trees, grading for good drainage, and putting in the foundation. The type of foundation you choose (full basement, slab, crawl space, or a combination of those options) will have the biggest impact on the price you pay.

Keep the weather in mind as you approach this step. If the area is too muddy or seasonal weight restrictions are in place, you may have trouble with getting heavy equipment in there.

Average costs:

• Total cost on average: $29,900
• Possible cost range: $11-$19/square foot
• Percentage of the total home cost: 11.7%
• Excavating, adding pea stone for drainage and backfilling: $7,600
• Slab foundation: $5.50/square foot
• Concrete crawl space: $8.85/square foot
• Full basement: $11.75/square foot

Cost of Home and Roof Framing

Now your home will start taking shape! Framing the home is pretty basic, but the type of roof you choose (gables, pitch size etc.) can have a significant impact on the price.

Weather is a tricky factor until you get the roof on and finished.

• Total cost on average: $46,400
• Possible cost range: $15-$27/square foot
• Percentage of the total home cost: 18%
• Roof trusses: $1.50/square foot of the home
• Labor and framing materials: $16./square foot
• Steel and other supplies: $1.25/square foot

Related: THE COMPLETE COST OF CHANGING A ROOFLINE

Cost of Finishing the Exterior

Time to wrap your home uptight! Finishing the exterior includes installing siding and roofing.Prices are based on the home’s square footage but keep in mind that roofing costs for a two-story home will be less than for a one-story home of the same size.

• Total cost on average: $37,800
• Possible cost range: $8-$35/square foot
• Percentage of the total home cost: 15.1%
• Roofing materials: $3.90/square foot
• Siding: $7.50/square foot
• Windows, doors, and garage door: $3.30/square foot

Cost of Roughing-in the Major Home Systems

Before the interior can be finished, the systems need to go in. These include electricity, plumbing, and HVAC systems. 

Various contractors are involved at this stage so poor schedule planning can lead to delays or workmen being in each other’s way.

• Total cost on average: $33,950
• Possible cost range: $11-$17/square foot
• Percentage of the total home cost: 13.1%
• Electrical mast, panel, wiring, and hookup: $4.35/square foot
• Plumbing rough-in: $4.50/square foot
• HVAC – Heating, AC, and ductwork cost on average: $12,700

Related: BASIC, MEDIUM, OR DETAILED - WHICH SITE PLAN IS RIGHT FOR YOU?

Cost of Finishing the Interior

Your house will start to feel more like home as the interior touches are completed. Drywall, cabinets, flooring, floor vents, molding, and painting all fall into this category. 

Again you may have several crews working at once so you’ll have to schedule accordingly.

• Total cost on average: $76,355
• Possible cost range: $22-$45/square foot
• Percentage of the total home cost: 29.6%
• Insulation: $2.35/square foot
• Drywall: $4.30/square foot
• Painting: $3.15/square foot
• Flooring: $4.85/square foot
• Doors and trim: $3.45/square foot
• Appliances: $4,000
• Light fixtures and covers: $3,150
• Plumbing fixtures: $4,000
• Fireplace: $2,485
• Cabinets and countertops: $14,000

Cost of Final Construction Steps

Once the interior is finished, all that is left is finishing up the outside. This includes things like the driveway, installing landscaping, and a deck, porch or patio. Obviously, some of these are optional and you can even hold off on some until you save up more money if you’re running short.

• Total cost on average: $17,800
• Percentage of the total home cost: 6.9%
• Grading and landscaping: $6,300
• Driveway: $5,525
• Deck or patio: $4,900
• Construction cleanup and waste disposal: $1,925

Related: EVERYTHING YOU NEED TO KNOW ABOUT DEMOLITION PERMITS

How MySitePlan Can Help with Building Permits

The average overall grand total cost to build a house comes out to $281,200 to build a 2,400 square foot home. The cost will vary of course depending on location as well as materials used, but we hope this has given you an idea of what to expect.

Looking to get your site plan and get the ball rolling? We can help! Contact us today to get a customized site plan ready for review within 24 hours!  

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