What Is the Average Cost to Build a Home?


Quick Answer

The average cost to build a home, notes a study completed by the National Association of Home Builders in 2013, is $399,532. This figure is based on an average lot size of 14,359 square feet and an average home size of 2,607 square feet.

Continue Reading
Related Videos

Full Answer

The final amount includes a finished cost lot cost of $74,509, which is about 18.5 percent of the total cost. Total construction costs are $246,453, which amounts to about 62 percent of the finished cost and includes site work, foundations (including excavations and concrete), framing, exterior finishes (such as roofing), major systems rough-ins (like electrical, HVAC and plumbing), interior finishes (such as appliances, drywall, flooring, insulation, lighting and painting) and the final steps (which includes landscaping, outdoor structures and cleanup costs). Other costs that make up the final price include financing costs, general expenses and sales commission and marketing costs.

Learn more about Financial Planning

Related Questions