- Construction Estimating Software
- Cost to Build a House
- Cost Per Square Foot
- Cost to Build by State
- How to Control Construction Cost
- Cost of Home Additions
- Roofing Cost Calculator
- Basement Construction Cost
- Cost Estimating Explained
- Contractor Bids too High?
- Should You Buy a Foreclosure
- New Home for Under 70,000
- Construction Inspections
- Free Contractor Estimates
- Best Way to Add Value to Your Home
- What's Your House Worth?
- Keep Cool with a Heat Pump
- How to Build a Dry Basement
- Cheap Hot Water/Fast!
- How to Pay Less For Kitchen Appliances
- Cheap Solar Power
- How to Save Money Buying Windows
- How to Find Good Contractors
- How to be a General Contractor
- List of Contractors You Will Need
- Cost to Build a Kit Home
- Modular vs Stick Built
- FREE Credit Score Calculator
- Construction Loans
- How to Get a Construction Loan
- Construction Loan Requirements
- Get Your Mortgage Approved
- Low Down Payments
- Bad Credit Home Loans
- Home Affordability Calculator
- Build a Mortgage Free House
- CLICK HERE FOR MORE HOME BUILDING TIPS
Build a New Home for Under 70,000
Summary: You can build a new home for less than $70,000 with careful selection of house size and design.
Carl, I've been a carpenter for over 25 years and my question to you is, can I realistically build a home for $70,000?
I have $70,000 from the sale of my prior home and I own the land free & clear (no loan).
I do not want to spend a penny more than the $70,000 as I want no debt.
The only labor I would need to hire more than likely is for the electrical and HVAC.
I'm also researching insulated concrete forms (ICFs) to see if that is something I want. Earl
Earl, not only should you be able to build a new house for less than $70,000, you should be able to have it built for you using professional subcontractors.
This attractive 800 sq ft home makes use of roof trusses with an overhanging roof line to add even more usable outdoor space. 800 square feet may not sound like a big house, but it’s bigger than you’d think and quite livable.
Using the construction estimate software, I ran a cost to build estimate on this 800 square foot new home plan that I found on Cool House Plans.
Since I didn't know where you were planning to build, I used a CA city and, in order to keep costs down I used the following home building specifications and "Quality Class 6" when using the cost estimating software:
- 800 sq ft
- concrete slab foundation
- no garage
- forced air heat
- no AC
- no fireplace
- rural area in Bakersfield CA.
The estimated cost to build this house came out to be approximately $59,746 ($ $74.68 per sq ft), including all the labor to build it, but not including a General Contractor markup, permits, city or county impact fees (if any), land development costs, insurance, plans, specs, or final cleanup.
Well Earl, subtract the labor costs you won’t be needing because you will be doing that labor, and any other costs you think you won’t need to budget for and you should have a enough money to not only build this house, but be able to add a garage and a few other amenities…perhaps even afford ICFs.
Keep in mind that this is a rough estimate for 2014 and until you get actual bids for contractor labor, subcontractor labor and building materials you won’t have an accurate estimate.
Good luck, Carl Heldmann