New Home Cost Breakdown
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- Опубліковано 2 чер 2024
- Are you interested in building a new home? Wouldn't it be useful to see what new home costs are currently for each major phase of construction? That's exactly what we did in this video. We've broken down the building costs for the foundation phase, house shell, rough mechanicals including electrical, HVAC, and plumbing, interior finishes, and driveway. These numbers came from a survey of 49 pro builders located across the country. We also include the current builder markup as well as the overall cost per square foot for labor and materials for a new home.
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These videos are SO helpful. We do plan to take your course in the Winter.
A very helpful breakdown on the different phases of building a home - greatly appreciated.
Thanks Michael, appreciate all the info.
Your site continues to be the most valuable and informative information regarding home building on the internet.
Thank you for the great videos and information that you provide. Question. The house in the video behind you! I love it, where can I check out that design?
Love the video 😊
Great job
Thank you so much Michael as always for your great channel.
Do you have any information about the average cost of construction in California specifically Los Angeles county?
How can we get those info?
Great information
Another valuable video, thank you so much! And yes, your owner builder course is so thorough, it really gives me the confidence I can manage the project myself.
Can you do a min/max price comparison for some differing regions? Like a case study for Los Angeles area, and compare it to rural Appalachia for example. That would be excellent to get an idea of price range.
Yes, please do something like this!
agree!
No. Also look at the wages before you move out here to the country to rape our land
Pre construction cost for me so far.. 35K. Engineering for septic & grading.. 12K permits including home permit 18K. Architect for house 7K -8K
.. I haven’t even got my water meter which costs 16K in Calaveras County. In CA.
How much per sq feet ?
@@user-tt7wf9lz2t property is 2.1 acres and the house is 2200 sqf
Do you have any discount codes for your online course?
La or day sales?
Thank you for your great videos. I am planning to build a house in Costa Rica which has tropical weather and rains a lot. Any advice on the footing and foundation? I appreciate your time.
Hi I'm from costa rica. We don't build with wood frames like in the States. Houses are build with cinder blocks, rebar and concrete and they will withstand high humidity and earthquakes.
Do your homework and get a reputable builder (maestro de obras); don't hire the first drunk from town that says they build houses as you will have a lot of headaches and maybe even you'll have to demolish the house and start from scratch. You can also use hire a turnkey firm but it is going to be more expensive (from $600 to $1200 per square meter). Also very important, be there for the entire process and check the workers aren't cutting corners or doing dumb sh...
Hey,
Very interesting video, thanks.
How relevant is the Open Book Build program if I'm in Canada?
Question- Do you know how much a 1,600sqft. basement 18 block coarses high with 10 corners would be? Block foundation with brick.
Wondering how this compares to prefab
what percentage of the work is labor as I'm looking to cut all the labor down as I will be securing several licenses and don't need a electrician nor plumber nor hvac and of course no contractor. Also, I will likely be building house structures that don't in my state require a architect approval. Also impact fees are illegal in my state.
i bought few years ago a land so how much it will cost me to build and for how long
Great video! I live in New mexico and prices has gone so crazy its hard to build for under 200$/foot using a general contractor and anything custom or half decent youre looking at 300$/foot and then anything super nice like 500-1,000 foot build cost only not inlcuding land which is 50k at cheapest with utilities but not in town, 100k in town average decent area lot but not prime location and tiny and minimal views or 200k for something quite nice or 500k-1.5 million for something amazing/unbelievable. Its really painful. Im trying to build but seems daunting. Hard to generate equity using a contractor. Paying more to build than the house will appraise for it seems 😢
Totally agree. I'm an architect in Jacksonville, Florida. It sounds similar to here. No way you are building a home for $150/ft unless you are getting the most basic everything and doing a lot of work yourself such as installing flooring, vanities, punch list items etc.
@@collin9085100$ a square foot just for the wood. Lol
I’m Albuquerque and we bought a lot in Tijeras and wanted to build but yeah there’s nothing nice unless you have 400-500k it’s crazy
@@robertoramos8257I am looking for a piece of land in Tijeras,NM. We are planning to put utilities once I get land. Then planning to buy my mother in law RV to live in while saving some more money to build a house. I hope it works.
Foundations depend on house weight and soil conditions. A 30x40 cmu block foundation with crawl under log house or 3 story is usually around 18000$. And basement around 22000. We are building 3 bedroom ranches no basement usually handicap accessible too and with 1/3 mark up hitting 122k. We buy cheap tax sale houses too. And if vacant land at least 5 acres to build on. I am at 20k for 10 acres that was 16k, piers, post and beam timber frame, 24x24 6/12 skillion pavilion. That's using my own labor. Gonna frame in walls this summer and complete block north wall. Off grid Earth ship passive solar design no tires or berm. 6 foot frost depths and 70 psf snow loads. Utility bills always seem to keep going up. Less bills the better. Thinking or retiring before 50. And want to build a cottage and a boat and still have time and ability to enjoy them.
THANK YOU, you always create great content! I'd like to know how much the average basement costs. We are in Michigan and plan to build our own next year! 2500 sqft ranch with a full basement.
He did a video on his build of a small home, look in his videos. Couple years ago, owner builder, small house, Ohio I think, $25K. But I am getting quoted by "on your lot" type builders (with markups) between $50-100K on the West Coast.
@@MorningClarityhow big of home are you trying to build?
what house plan is shown at 3:40, 4:29, 6:31? how can we find it?
How do i find costs more local to me?
What about cost of building an earthbermed home? If a lot has a hillside, doing a 1500sqft home dug into the hill, could reduce the amount of cost in lumber and the labor associated. Obviously youd have more in cost of concrete/site prep but that could be offset if the remainder of build is doable for an advanced DIYer. Anyone have thoughts on that?
Don't do it. It will be un-sellable and won't save you any money because the subs won't know how to do it.
Hey, put you link in the Descriptions of all your videos. This way someone can easily click instead of having to type it in.
How much would a house like this cost for a city in San Diego county ca? If I could build a house for $200 a sqft then it would make sense.
Does the 2561 SF include the Garage square footage?
Great question
First thanks friend!
I think I missed something after watching a few times. Site Work 7.4%, Ex. and Foundation 11%, Shell 32%, Mechanical Rough ins 17.9%, Finishes 24%, Driveways 2.2% adds up to 94.5%. I have 5.5% left over to allocate. What did I miss?
Miscellaneous expenses
What is cost of home construction in maine our land is 0.75 acre
not in Lake Tahoe :(
Anyone have any advice on where to start with hiring someone to direct the building of a house? Im lost on what to do after loan approval…
Well mortgage**
@ $175.00 to start with building doesn't include windows, doors, plumbing, electric, tile or floors above subfloor
Or masonry work.
I'd like to build a small house maybe 800-1000sqft. Could you give a breakdown of a small home? I only need a small house for my spouse and I, not a family sized house. In Duluth, MN to hire a GC it's $350-400 per sqft to build a new home.
I want to sign up with you but not sure how your pre-recorded material will actually help me.
His material is thorough. I recommend it because I’ve done the course.
If you want your hand help you can pay about 10k
Nobody going to do that for free
If I were to decide to be an Owner Builder, is it normal or allowed to hire a project manager that might have some experience building a home?
As a Building Contractor I would advise against building as an Owner/Builder.
It is FAR more complicated than is depicted on HGTV. There are so many little things that need to be taken care of for the project to be done correctly and on time.
I sometimes have owners who decide to take on parts of a construction or remodel by themselves. Almost always they decide to completely hand it over to me about halfway through -after everything is a mess and things are behind schedule. Then it really costs them.
But if you decide to go that route...DEFINATELY hire a project manager at the very least.
@@Icecat21 what I'm looking at is either buying a completed house that won't be exactly what I want or doing it as owner builder, because I can't afford tht 30% to 40% markup that is normal for general contractors.
I have never been in construction myself but I have been a project manager for installations into music stores.
I've also been a little involved in 4 different very successful home remodels on a family home my family had for 70 years up until a few years ago. The remodels were not small bathroom remodel or anything like that, we went from a 1 bedroom, 1 bathroom and 1car garage. To 5 bedrooms, 6 bathrooms, 3 car garage and 2 kitchenettes, so 2 of the larger rooms could be rented as stand alone apartments, if needed for income. We also added a granny flat with kitchen and bathroom in the back yard.
My father and his brothers did 90% for the construction, I was involved but in a very minor role. My point here is that I have a little bit of an idea what to expect... enough really to know that I would at the very least need a project manager with building experience.
Thanks for the advice.
Yes, saves 10-30%
The costs seem extremely inflated, I wonder if they are getting creative with their accounting
That depends on where you live.
I will I could get builds done at that price in my area.
It is all relative.
This really depends on where in the country you're operating.
He clearly states that twice. Particularly referencing the difference between California and New Mexico.
exactly.
@@kobartlett
Yup, like he stated!
"impact fees" = an extra charge for all the stuff that you already pay taxes for.
I have given up on building a house or buying anything new. Prices are crazy. I'll just stay where I am.
The problem I keep running into is all the builders I talk to want to charge the exact same cost per square foot as if I bought one of their custom turn key houses but I already own my land, already have all utilities and am doing my own dirt work and landscaping and driveway. I even broke down the cost on one of their lots and all other mentioned stuff and he claimed it would still cost the same to build it on my lot.
Yeah all that stuff could be 5% (or less) of the cost of the whole project. (obviously depends on your project). But if the builder says $200/sq foot as a ball park... then I guess he could say 190-195 per square foot. My point is it's not going to move the needle a lot on a "ballpark" quote.
@collin9085 I broke down one of his custom homes that was on the market at the time I met with this builder and all the stuff I mentioned totaled about $32 per square foot of the overall cost of his build. How come he wasn't willing to build that exact same house on my lot with all the mentioned items listed for $32 per square foot less or about 22%. My lot is about 4 miles from the one he had listed so it wasn't a distance issue.
@@justkeepingitreal7768 Firstly, I don't know where you are getting the numbers from? From his other build near you? If that project is completed, then inflation has increased since then. Additionally, are you building the exact same home? Lets say your home has more windows, nicer kitchen, nicer showers, perhaps more spread out and more roofs, etc etc. Like I said, it is a ball park likely vs a detailed final cost breakdown. The same square footage can easily cost more.
Firstly, you should be doing a "cost plus" contract if you want to do some of the work yourself. Secondly, with cost plus the builder doesn't want to underestimate so that you end up paying more in the end than you bargained for. Both of you can work to complete the build under the maximum.
Lastly, I would like to say that this youtube channel wants you to buy their corse. They don't care if you build the home. Thus they want to make people who have a modest budget can build a home. I can tell you that it is virtually always cheaper to buy an existing home. If you are on a tight budget, existing homes are the way to go.
@collin9085 I had him price his house, the exact same house that he had just finished and was listed on the market at that time. He provided a line sheet for that build and I removed the items I was going to supply and he lowered the price none. The lot cost alone was huge. In that time lumber had come down but materials were the same or lower. I just can't figure out why he was charging the exact same per square foot yet I'm providing all of the above mentioned items. Actually I can figure it out but I'm not going to say it publicly. I appreciate your time discussing this with me.
He doesn’t want you as a customer.
Can I fly a New Mexico crew to CA to do some work here? I'll even throw in a season pass to Disneyland.
I've been a custom home builder for 25 years and have built well over 100 homes. I feel that you're misleading people that anyone can build their own home. While I'm sure there are people who can pull it off, the majority of them will fail miserably. Even with the experience I have, I still need to double and triple think about things as I go along. Also, everyone I know who has attempted their own build and discussed their numbers with me all paid well over what my fee would have been and made tons of mistakes. I can also tell you that my fee is nowhere near the 30% that you claim and is actually 10 - 15%. Please stop misleading people as it's much harder than you make it out to be.
wow, cool....how can I hire you?
I don’t want to say he’s misleading people, but I would agree with you as far how difficult it is and the fees charges. I have built over 20 homes and I have never been able to charge more than 12% over on a cost plus deal, and on my specs I’m shooting for around 15% but I always fall short.
@@reggiew5514 sounds pretty competitive then! Usually people can't get away with massive profits for long until the markets get smart I'd imagine. However, lots of dumb people near/in major city regions.
Exactly
I think I can build myself for half what a builder charges, lumber is cheap, I can get a guy from the lot at home depot to help me lift walls. I don't understand why build your own cost so much, they must still be hiring contractors to do the work
If you live in the country on a farm you don’t pay these darn costs
Average home being over half a million dollars…. With interest rates you’re paying over a million dollars over a 30 year span of time. WHAT A RIP OFF!!!
old dump was bought 3 milion on 800sqm block , pulled down for building new 5 bed home and pool worth 4.5 milion when complete could be more as land values increase
3 bed home in australia $700000 to build