Knowing what the processes are in building a house will give you a picture of how much a new house really costs. Building your own home gives you a chance to customize it according to your taste. The question is, how much is the cost of constructing a new home?

In 2017, the cost for a new house was approximately $237,750 for an area of 2,775 square feet, with the information coming from the “National Association of Home Builders”. Nevertheless, the total costs could still reach more than $400,000.

Note that prices depend on factors such as requirements, location, and more. Here are where all the money you need to spend is used when building a house in agreement with the “National Association of Home Builders”.

Costs of the Property and Preparation

  • Site Work – this includes fees for building permit, impact, sewer checks, and water. Also, it may include fees for labour. So, the average cost can reach up to $15,903.
  • Foundation – the costs for this include digging up, creating the foundation, placing concretes, retaining walls, and lastly backfill. All these will cost about $25,671.
  • Framing – this involves determining the location and sizes of your rooms. This may cost about $41,123.
  • Exterior – this includes finishing walls, roofs, doors, and windows. The usual cost for exterior reaches about $33,066.
  • System Installation – this includes electrical, plumbing, and HVAC. This will cost you about $32,746.
  • Interior – this includes drywall, paint, flooring, plumbing fixtures, and lighting which will cost you about $67,939.
  • Finishing – the last touches include cleaning up, landscaping, and other structures which will cost you about $16,591.

That is just the average cost of building a new home in general, and you should expect some additional costs.