The average cost of building a house yourself
"Hammer 2" is Copyrighted by Flickr user: Cellular Immunity under the Creative Commons Attribution license.
The average cost of building a house varies greatly due to the number of options and contributing factors. In 2009, most houses cost between £52 and £130 per square foot to build. The average cost is £76 per square foot. For a 2,000 square foot home, that's a total cost of £153,400.
However, there are several ways to reduce the cost.
To find the cost of building a particular style of a house, take a look at a house that is similar in design, size and layout. Subtract the price of the land and divide the remaining amount by the home's square footage. Compare several houses of similar quality in the same area to determine an average amount. The quality of the house is important, because a house with expensive flooring and a fireplace will cost more than a house without those items.
The time frame required to complete the house is influenced by climate, site conditions, number of workers, difficulty of projects and the amount of changes that are made. Building your own house takes an average of six months, and sometimes up to a year. For a larger and fancier home, especially if the owner has no building experience, the project can take up to two years or more.
The expenses involved with building a house are influenced by a number of factors. Development fees that are paid to the government can cost several thousands of dollars, sometimes up to £32,500. Other expenses include excavation, foundation, landscaping, driveway construction, garage, cabinets, cupboards, countertops, lighting, flooring, carpet, primer, paint, ceiling construction, frame, windows, doors, roofing, insulation, drywall, heating and cooling, electrical, plumbing, permits and inspections. The cost of each item is determined by the difficulty, quality or size of the home. You also need to set aside approximately an additional 10 per cent for unpredictable circumstances.
Many factors influence the cost of various materials and projects necessary for building a house. The cost of labour and materials increases by about 3 to 6 per cent per year. It also costs thousands of dollars to include a basement in your home. The number, quality and size of windows affect the price, as well as special designs such as cathedral ceilings. If the site is not prepared for construction, it adds a significant amount to the cost. Cost is also determined by the current state of the economy, which determines the cost of materials and labour.
You can save approximately 35 per cent by being your own general contractor instead of hiring one, if you have building experience. Also, building square or rectangle shaped frames costs less than building other shapes. There are also home kits available, which provide various materials and instructions and can be about a third of the total cost of building a home. Look for inexpensive opportunities to purchase materials and choose a time of year when the weather is favourable.
- "Hammer 2" is Copyrighted by Flickr user: Cellular Immunity under the Creative Commons Attribution license.