$100 per square foot
Accurately estimating home-construction costs requires using the blueprints for your new home. Estimating the cost of building a new home helps plan for the features you want, while staying within your basic budget. Take the price of the home, deduct the price of the land, and divide that amount by the square footage of the home. For example, if the home is selling for $230,000 and the land costs $30,000, then the construction cost is around $200,000. If the home is 2,000 square feet, then the cost per square foot is $100. Use several new homes in your area to get an approximate square footage price. Cost Estimate Worksheet. The very nature of custom design is such that it is impossible to predict costs exactly until you have a completed plan. Lacking this, the traditional method is to simply figure a price-per-square-foot. Say you want to build a 2000 square foot home. 1 Usually the cost of building a home increases around 3% to 6% per year. 2  If it will be several years before you begin construction, remember to include inflation into the cost estimate for your home. For example, homes built with the majority of the features listed under the highest class of construction in 2012 used $110 as the multiplying factor. Mid-grade construction used the average square-foot cost of $95. Houses with standard features used $79 as a multiplier. Multiply the cost by the number of square feet from your blueprint calculations to estimate your building costs. In about 5 minutes you can develop a home construction or replacement cost that considers all the important variables: materials used, design features, quality, size, shape, heating, cooling and geographic area. Your printed estimate shows detailed labor and material costs for each of 34 construction cost categories.
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estimate cost to build new home