New Home Building Budget

New Home Building Budget

From Ashlee

"Hi Carl, I really don't know much about buying or building a home. I wanted to know about how much would it cost to build a 3 bedroom house with a 1 car garage about 3000 square feet &1 or 2 bathrooms.

I know there is a lot of work and money involved but I don’t even know where to start.
I wanted to know how much total for the land and the house. And how would I go about starting this process?

Thank you for your time."

Well Ashlee,

You are not alone. Most people haven’t a clue as to where to start the home building process.

That’s why I wrote my books and have a web site.

I know that sounds like a cop-out to your question, but I have put many hours into a “walking in your shoes” type of approach to “Where do I start to build a house?”

After all, many, many, many years ago, with the first house I built, I started the same way as you and everybody else, clueless.

As you will see on my “Getting Started” page on http://www.byoh.com/, you first must determine a home building budget.

Cash + Loan = Total Budget.

Total budget minus estimated land cost = house budget.

I can’t help you find land, nor help you decide how much to spend on land.

Nor can I help you decide what style house to choose.
There are thousands of plans, just on the “House Plan links on “Getting Started’.

There is a link to a Home Plan company called HDA that provides a finished house cost to build estimate based on zip code.

It includes the cost of using a General Contractor (Builder).

I find this feature to be a great way to start looking at house plans. A little “shortcut” so to speak.

Here is a 3000 sq ft house from HAD. They have no 1 stall garage house plans that I could see. I don’t think anyone has built a 1 car garage in 60 years.

This attractive home is a 3 Bedroom, 2.5 Bath, and it does have a 1 car garage, but it also has a 2 car garage…ha, ha

Plan # 592-087D-0680, Courtesy of HDA

I don’t know where you live or want to build, but I used the Charlotte NC, 28207 area as I get inquiries for cost to build in that general area all the time.

HAD estimates the cost to be $ 336,890, or $ 112.30 per sq ft…and that’s with a builder (General Contractor). Of course, that does not include land.

Also, you should consider buying a finished house & lot in an area you desire and a price range based on your Total Budget.

There are some incredible “deals” everywhere.

Hope I have helped,
Carl