Cost of Building Our Home in 2024 | Current & Projected House Budget Ep. 24

In this Building a House Episode we discuss the costs we've already incurred and then compare our actual costs vs the costs we predicted in 2023. We share why some of our predictions were off and give you the remaining predicted costs in order to estimate the total cost of our house build in 2024. This is a 2,800 sf ranch style, custom, home located in SouthEast, Michigan on a 3 acre lot. In the end we share why we are $150K over our initial budget and how we are affording the new total.

Connect With Us!
Tik Tok - @farisandlisa

Camera Gear

We're Faris and Lisa

We've traveled to 40 countries, experienced van life for 1.5 years, and now we are building our own house from start to finish. Subscribe to follow along on our journey!

[kicharan]

Thank you for being so open about pricing. Whenever I look for videos on home building or reno I always want to know costs of things. And you guys do that the best of anyone out there.

[TechOutAdam]

Can’t wait till y’all can be paid full time being content creators because you have the personalities for it. These videos are always fun to watch. Just rewatched your telluride and van tour episodes. Can’t wait for more. ❤

[clarkeYYC]

Faris and Lisa, I'm thrilled I have stumbled on this! My wife and I have just purchased land in Calgary, Canada and are about to embark on a similar journey as you. I have literally a hundred questions and seeing this type of video that is SO detailed, contains rough costs and sequential building phases, and clearly displays your personalities and preferences is a gift. I'll be watching your entire series to get a better understanding of our options as owner builders. Thank you so much.

[bkkcanuck]

Pretty darn good on your budgeting, often people forget that saving 4k in labor costs is not worth it if one has to give up 8k of income. It's a total learning curve and it sounds like you guys are figuring it out fast and making smart moves. Plus as you touched on at the end, as long as you are in the range of your general market it' all good. Plus of course you are building for yourself, not just a flip for profit so it will appreciate over time while you are living there. Very wise beyond your years I'd say, keep at it...

[Sassyglbeauty]

The fill dirt info is so cool. Never knew this!

[LivelyFL]

I know you're over budget but I love everything you've done so far. You have saved money in many areas (fill dirt, stepping down in cabinets in the bathroom, using remnants in the bathroom, etc.) ....I think you're doing fantastic. I wish you all the best in finishing your project.

[prawnstar]

$162k for framing and a few steel beams? WOW!

[vladboychuk]

Thanks guys, so refreshing to see videos like this and what you share. Im in progress of building my own house and its very helpful to compare and relate to your journey of building your house.
Thank you.
Happy for you both.

[deeakinlofa]

Thank u for sharing your video. My husband and I are in the process of buying our first home in Warrington, PA.

A lot of the houses are listed for millions of dollars. However, I believe that we can build our dream home for half a million. Just like u, guy.

I really want us to build from scratch so that we can have all the things we desire. I came across your video becos I wanted to see how much it will cost. I am so excited to see this video. Thank u. Thank U.. Thank u.

[HomesteadAppalachia]

Thanks for the cost breakdown. Helps us plan.

[linnsoltwedel]

I regret going cheap with interior doors. The more expensive once look 100 % the same, but they are not hallow inside, which I wish we had in some rooms for sound dampening. Loved your doors and LOVED the style of the house! :)

[DrAdamHotchkiss]

This is awesome.. looking to buy in Metro Detroit and this seems like such a better deal than any of the homes currently on the market!

[cyruskibiku]

FARIS AND LISA much love from Kenya . your project is awesome.Thanks for the enlightenment on your budget ..back in Kenya am planning to build mine 10thousand dollars will do a good three bedroom house . taking one day at a time my young family will have one soon

[nwhite]

We are doing the same now and its brutal how much everything costs. We are in the North East and we had to have a $30, 000 septic. My bid for insulation is $20k includes a full walkout basement. Thank you for puting you numbers up. I may do the same when we are done!

[mattcannon]

We purchased and rehabbed an old 1927 property back in Nov 2020, and were over budget by right around the same amount. $8 2x4's and increased construction costs in all facets really hampered our finances, and still do. We should have the additional costs paid off in two years, but I feel your pain!

[MortgageEasy]

I love your new home and the land is incredible.. Where I live 1/3 of an acre building lot runs around $200k in a subdivision, no trees.

[TigerRogers]

That's great that you've put all of the expenses out there!! It gives potential home builders in your area a guide!! Tiger Rogers.

[alphabrett]

Great stuff, guys. I'd love it if you did a video on HOW to budget for a house build. I literally can't find a single video on YouTube about it. Maybe I'm missing something 😅. I'm gearing up to build and the answer can't (not so) simply be "go to a hundred different stores, look at a million different items, add up a thousand numbers and get quotes from 100 contractors".

[paulac]

Great video as always. Thank you for sharing fellow Michigander.

[makaylaking]

This is a beautiful home 😍i always get happy to see other people do stuff like this lol