Easily Estimate Your Cost to Build

When looking to buy a home it's important to check out every option available to make sure you get exactly what you want. With today's crazy high real estate prices many people are exploring the idea of building their own home. But how much will it cost? In this video a builder shares a quick way to estimate the rough cost to build a new home in your local area.

[KarolQasba]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[marckspal]

I've been following you recently and you have incredible content.

However, if you have the time, please consider creating playlists so we can parse through your content systematically. For example, a playlist on how to buy land, step 1... A playlist on how to build your first home, step 1... So on & so forth. Cheers!

[PNW-Mochi]

I'm still trying to wrap my brain around average sales price in the US being basically half a million and that if I wanted to meet that "recommended" 20% down payment that I essentially am dropping far more than the entire mortgage my parents had in the 80s. I definitely make quite a bit more than my parents, but the buying power is not even close.

[dempseydoodle]

I already bought land, but with the knowledge that I'm going to need to sit on it for 5-8 years before I can afford to put a house on it but this is super helpful.

[rightright]

$181/sf. Something is happening here....why then south of the border u pay $35/sf brick n mortar thru n thru, and i mean thru n thru...(no cardboard box allowed)?
Well, i tell ya
...in the States, everything runs on credit and terms, now we r even considering 40 year loans in order to increase the house prices....what have we done to ourselves?

[mattclements]

Awesome & insightful - Westlake is a beautiful area (by the way) of Ohio! Your videos bring so much value👍🏼👍🏼

[TDArcher]

Your videos have been a HUGE help to me. I'm in the beginning stages of this journey. I just put a contract on some land. The only issue for me with your course is that is really is geared for someone building in a neighborhood. I'm building on a rural lot on some waterfront property. Unfortunately you don't touch on many things I have questions on not to say your other info isn't transferrable. Thanks for sharing your knowledge!!!

[honkaimingjesus]

Absolutely love this style video! Can you do more floorplans! My wife and I are looking to build a modern farmhouse style in a few years. Would love to see a cost breakdown on a farmhouse style home.

[claytonjames]

Take into consideration if you are looking at listings from companies like a DR Horton, this company uses an underwriter and while the sales price might reflect what the price sold for it will not reflect write-downs which is in effect them subsidizing the mortgage in part for either a number of years or a dollar amount which in effect is a lower sales price. They don't want to lower the price of the sale on the home because then it would create a comparable that then other homes will be compared to and it will continue to bring their homes down in price

[nolovetrends]

I agree with everything you said except bidding. I am fan of fixed cost GC. In my experience they are better to work.

[rodm]

I have land, electric, septic, and well all installed. I want to build a simple 1500 sq ft or less, single story, one roof line, all basic (nothing custom) home. Hard to find anything like this being built now days to compare. Everything complicated, custom, ten roof lines that drive the cost through the roof. How can you figure the cost of materials to build a simple starter home like this?

[tylereverman]

Very helpful! It's good to keep in mind the "30% builder markup" and the "20% land cost" is just estimate and is definitely different per situation. If the land has no utilities, would that be an additional cost added to the rough estimate of what it would cost an owner builder or is that usually included in the "20% cost of land"?

[kayfakunle]

Hey Mike, ive been binging your videos for months now. Great content and thanks for this channel. Were thinking of building a set of 4-5 townhomes. Menards doesn't really have a house kit for that so ive been struggling trying to estimate material costs. Do you know any site that might? Also, would the openbookbuild class work for such a project? Thanks!

[vickilindberg]

Biggest problem today? Finding trades people esp in some super high demand areas like FL & SFO area.

[grahammccoll]

Any idea what % of the cost labour accounts for? I want to build my own house entirely myself and most likely just sub out the basement/foundation work and most likely the electrical. I'm trying to get an idea of what I need to do so.

[MrPeru]

Thanks for this great walk-through! This great for making a hard decision, I'm looking into the buiod option for an investment property.

[ehh]

It’s insane that my parents built their 2700 square foot home for about 60k TOTAL, and that’s barely even a down payment for 90% of homes today.

[muffinsmuffins]

1776 sqft
$321, 000 to build, not including lot and home owner as gc
$181/sqft
$235/sqft 30% mark up working with GC

[clarkharms]

It is a good basis but right now everything is priced so high and unpredictable I wouldn’t even consider building, at least not as a first time builder.

[ohtoah]

it does not add up 564K - 30%/169K=395K - land 20% /120K=275K . You said 321K. What's wrong with the numbers? The only I see to come up with your number is to reduce the builder markup to 23% =130K