Cost to Build a House in Indiana

Cost to Build a House in Indiana-June 2010

Hi, Carl:

Thanks so much for your great web site! We recently bought "Be Your Own House Contractor" (5th ed.) and we're sure it's going to be very helpful when we begin to build in approx two years.

Our question has to do with cost estimating and whether we're doing it correctly using the Craftsman tool.

The house plan that we love (and will suit our site) is this:

Photos & Floor Plan From:
Architectural House Plans

We came up with a total cost of $154,000 as our own GC.

We live in Indiana in the South Bend zip code range.
Our property is in the country.

Thanks so much!
Marla

Hi Marla,

This unique house was designed by R W Knight of Knight Architecture for clients who had a beautiful hillside lot that looks into a gorgeous bay in Maine.

It is striking!

I came up with a little more cost than you did.

I used 6 corners (It's not an exact science) and "Average Standard" quality for all the "Quality Class" questions on the "Cost to Build" calculator found on my "Getting Started" page.

Total living area: 1,647.

With an unfinished basement I came up with a total cost, including a $26,505 General Contractor markup of $217,700 or $132 per sq ft.

Basement area = 1,131 sq ft.

Total living area with a finished walkout basement = 2,778 sq ft.

With a finished basement I came up with a total cost of $239,489, including a General Contractor markup of @29,332 or $86 per sq ft.

By deducting the General Contractor’s Markup, equipment rental, and allowing only $2,000 for insurance (NO workmans comp. insurance cost since you won't be hiring labor by the hour), I came up with the following estimated costs for an Owner/builder:

Owner/builder Estimated Cost to Build:

With an unfinished basement, $183,999 or $111.7 per sq ft.

With a finished basement, $201,980 or $72.7 per sq ft.

You should keep in mind that the cost to build for this example, or any house plan, can vary considerably depending quality of materials selected, and on actual bids for labor and material."

Again, the estimate for this house is an approximate one based on "average" quality materials with a basement as of June, 2010.

Until you actually start getting bids and entering them into your own spreadsheet (see my spreadsheet page for FREE spreadsheets), it will remain approximate.

Enjoy and good luck,
Carl