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How Much Does it Cost to Build a New House 2021

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How Much Does it Cost to Build a New House 2021

Are you thinking about building your dream home and need to get a sense of what it will cost at the end of the day? This article explores the average costs that come with each segment of the home construction process that you’ll need to understand going forward. Please continue reading for more information that can help you develop an effective home construction budget.

Related: What to Include in Your Site Plan

construction worker building a new house

How Much Does it Cost to Construct a House From Scratch?

No matter the kind of home you’re trying to build for yourself, you can be sure that the process will cost you a pretty penny. That said, exactly how much can you expect to spend on average? An enormous range of factors can significantly impact the overall cost required to construct a new home, from regional differences, the type of amenities you want your home to include, and more. 

Related: Basic, Medium, or Detailed - Which site plan is right for you?

Average Building Costs

Average Cost Range

~$150,000 - $445,000

Minimum

~$100,000

Maximum

~$1,000,000

National Average 

~$250,000

Average Building Cost Per Number of Bedrooms

Number of Bedrooms

Average Cost Range

1

~$90,000 - $300,000

2

~$140,000 - $350,000

3

~$180,000 - $400,000

4

~$200,000 - $500,00

Average Cost By House Size

Size in Square Feet (sq. ft.)

Average Cost Range

~800 sq. ft.

~$80,000 - $160,000

~1,000 sq. ft.

~$100,000 - $200,000

~1,200 sq. ft.

~$120,000 - $240,000

~1,500 sq. ft.

~$150,000 - $300,000

~1,800 sq. ft.

~$180,000 - $360,000

~2,000 sq. ft.

~$200,000 - $400,000

~2,500 sq. ft.

~$250,000 - $500,000

~2,700 sq. ft.

~$270,000 - $540,000

~3,000 sq. ft.

~$300,000 - $600,000

~4,000 sq. ft.

~$400,000 - $800,000

~5,000 sq. ft.

~$500,000 - $1,000,000

Are you building your dream home but need help getting your hands on some quality site plans? Check out the range of top-quality services proudly provided by the industry experts at My Site Plan today to learn what they can do for you.

how much does building a new house cost in 2021

Average Cost Breakdown of New House Construction

The tables included above should give you a general sense of the price ranges you’ll likely encounter depending on the size of the house you’re looking to build. But let’s take a moment to look more directly into the different components of new house construction and how much they cost.

Purchasing Land (~$90K)

To start building any new house, you’ll first have to purchase and clear some suitable land for it to be built on. The cost of land lots can vary significantly depending on a wide range of factors, such as their size and location. That said, according to a recent survey by the National Association of Home Builders (NAHB), you can usually expect to pay somewhere around $90K.

Getting Quality Site Plans and Permits (~$18K)

Quality site plans can be pretty easy and inexpensive to get by going through industry professionals like My Site Plan and can range in cost from $99 to $159 depending on how detailed you need the plan to be. The various building permits, impact studies, engineering and architecture fees, water and sewer hookups are what will start to add up, however, and you can expect to spend about $18,000 for everything.

Constructing the Foundation (~$5-35K)

Installing the foundation of a new home is one cost element that can range significantly depending on a wide range of different factors. While putting down simple slabs for the foundation won’t cost much, developing a full basement that can later be furnished can be pretty costly, especially if you’d like to include extra additions like crawl spaces. Depending on what you’re looking for, you can expect to pay as little as $5,000 to as much as $35,000. 

Constructing the House’s Frame (~$20-50K)

Yet again, this is a factor that will significantly depend on the size of the house you’re building. Framing is the process of constructing what will essentially be the skeleton of your home, which will then be covered with plywood or oriented strand board before trusses are built to frame the roof. In general, you’ll be looking at a cost of between $20,000 and $50,000.

Related: Everything You Need to Know About Demolition Permits

Plumbing and Electrical Installation (~$30-43K)

After the house’s frame is constructed, it’ll be time to install all of the necessary plumbing and electrical components needed to get your home attached to the water system and power grid. Depending on the general size of your house, you will generally spend somewhere within the ballpark of $30,000 to $43,000.

External Element Installation (~$35-45K)

After the skeleton and other internal components of your home are completed, the final external elements of the wells, roofs, and openings will need to be installed. This includes siding, doors, windows, and all necessary roof coverings. Depending on the general size of your house, you can expect to pay somewhere in the realm of $35,000 to $45,000.

new kitchen interior

Interior Finishes (~$75K)

Your home’s interior finishes include elements like insulation, drywall, flooring, internal doors, countertops, cabinets, and other various components that will turn the structure into a lovely, livable home for you and your family to enjoy. In general, this step will cost somewhere around $75,000, depending on your home’s size and the interior styling you’re hoping to achieve.

Final Additions (~$17-20K)

At this point, the basic setup for your home will have been completed, and all that’s left will be any final additions you’d like to add to the property, including outdoor structures like patios, decks, pools, driveways, and general landscaping. These can be completed alongside some of the later steps above or can be done after the house is finished. Either way, it will generally cost somewhere between $17,000 and $20,000.

family posing in new home

The Bottom Line of House Building Cost Calculations

You deserve to have a gorgeous home that you and your family can comfortably enjoy for many decades to come, and you must understand the broad range of costs that you’ll likely be paying to get that home if you choose to build it from the ground up. For more information on general housing construction, planning, remodeling, and more, consider reaching out to the industry professionals at My Site Plan today and checking out their range of top-quality services and expertly written resources. 

Do you need a comprehensive site plan to help you get your hands on the needed permits to add or remove specific features to your home? Take a look at the range of comprehensive services offered by My Site Plan today for more information.

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  • Annie Rosellini