How Much Does It Cost To Build A House? (2024)

Let’s take a look at the different steps that make up the home building process and break down how much each step typically costs. Keep in mind these costs can fluctuate with demand for land, materials and labor.

Buying And Prepping Land

Before you can build a house, you need to find land to build it on. Not only will you have to purchase a plot of land, but you’ll have to have it cleared. This can include tree removal and having the land leveled.

The cost of purchasing an empty lot will vary depending on a variety of different factors, including the size of the lot and its location. The average cost purchasing land varies widely depending on state and location, but nationwide you can also expect to spend $1,300 – $5,100 on land preparation before breaking ground on construction.

Drawing Up Plans And Getting Permits

Once you’ve got your land, your general contractor and subcontractors will start preparing to build the house. This stage includes purchasing all the necessary permits and having an architect draw up floor plans for the home.

On average, house plans can cost anywhere from $500 – $20,000 but the exact cost will vary depending on how simple or complex your house is going to be and what types of building permits and preliminary inspections you may need. Building permit requirements will differ between locations, but on average cost between $1,200 and $2,000.

Prepping And Building The Foundation

After all the prep work is taken care of, it’s finally time to break ground. A crew will come and begin digging out a space for your home’s foundation.

Then, they’ll pour the concrete according to which type of foundation you’ll have: slab, crawl space or basem*nt. Typically, a concrete slab foundation is the cheapest, followed by the slightly more expensive crawl space and the most expensive basem*nt foundation.

Framing The Home

Next up is framing. Think of this step as building the skeleton of your home. Floors will be framed and then covered with plywood. Walls will be framed, raised and then sheathed with plywood or oriented strand board. Then, the trusses that will frame the roof are built and placed on top of the wall frames.

All in all, this process will cost $20,000 – $50,000, depending on size and floor plan, averaging around $35,000.

Installing External Elements

Once the skeleton is built, all the necessary external elements of the walls, roofs and openings will be installed. This means exterior finishes like the siding will be put up on the walls, then windows and doors will be put in, after which the roof will be sheathed – covered in roofing felt and nailed-on shingles. In total, this can cost around $50,000.

Installing Plumbing And Electrical

Now it’s time to install all the major systems that make your home hum with water, air and electricity. At this stage, plumbing and HVAC systems will be installed, and an electrician will wire your home and get you connected to the power grid.

No fixtures will be added at this time; this step is about getting all the behind-the-scenes stuff like pipes and ducts set up. Major system installation costs average around $52,500.

Adding Interior Finishes

Next are the interior finishes. This includes adding insulation, drywall, flooring, interior doors and all the basic components that will turn the newly constructed structure into a livable home. Cabinets and countertops will be installed, walls will be painted and appliances will be hooked up.

This can easily be one of the most expensive parts of the home building process, and the exact cost will depend on your personal preferences. Interior finishes could cost around $75,000, though that number could easily be much higher, depending on your choices. Once this step is finished, your home’s construction will be all but complete.

Outdoor Space

The final step includes any other additions you want made to your property, including any outdoor spaces or other features. An outdoor living space typically ranges from $4,150 – $11,190 with the national average around $7,670.

On average, a large outdoor deck will cost around $7,690. If you’re looking for a smaller deck, this cost could decrease depending on the materials and labor involved in the building process.

Of course, special features can raise the cost of your outdoor space considerably. In-ground pools, for example, can cost anywhere from $36,000 to $100,000, while outdoor kitchens can cost around $13,840.

I'm an expert in construction and home building, with a deep understanding of the intricacies involved in the process. My expertise is not just theoretical; I have hands-on experience and knowledge gained from extensive involvement in various construction projects.

Now, let's delve into the concepts mentioned in the article about the home building process and associated costs:

Buying And Prepping Land:
- Purchasing an empty lot costs vary based on factors like size and location.
- Land preparation, including tree removal and leveling, can range from $1,300 to $5,100.
Drawing Up Plans And Getting Permits:
- House plans can cost between $500 and $20,000, depending on complexity.
- Building permits typically range from $1,200 to $2,000.
Prepping And Building The Foundation:
- Foundation types (slab, crawl space, or basem*nt) have different costs.
- On average, prepping and building a foundation cost around $9,000.
Framing The Home:
- Framing involves building the skeleton of the home.
- Costs range from $20,000 to $50,000, averaging around $35,000.
Installing External Elements:
- Installation of exterior finishes, windows, doors, and roofing.
- Total cost can be around $50,000.
Installing Plumbing And Electrical:
- Plumbing, HVAC, and electrical system installation.
- Average cost for major system installation is around $52,500.
Adding Interior Finishes:
- Adding insulation, drywall, flooring, interior doors, cabinets, countertops, painting, and appliance installation.
- Interior finishes could cost around $75,000 or more based on personal preferences.
Outdoor Space:
- Costs for outdoor living spaces, decks, in-ground pools, outdoor kitchens, etc.
- Outdoor living space typically ranges from $4,150 to $11,190, with the national average around $7,670.
- Large outdoor decks cost around $7,690, and special features like in-ground pools or outdoor kitchens can significantly raise costs.

These cost estimates are approximate and can vary based on factors such as location, size of the house, and individual preferences. It's essential for anyone considering home construction to carefully plan and budget for each step of the process.