The cost of building a home can range widely, but I have a resource that can help you break it down and give you an idea of what to expect.
When someone is looking at a plot of vacant land with the intention of building on it, they often come to me asking what it costs to undergo such a process.
My first answer is that it depends on what kind of home it is—a basic home, a mid-range home, or a decked-out and fancy home. And it’s also important to remember that everyone’s tastes regarding what is basic will differ from person to person. With that in mind, when I’m asked this question, I can recommend certain builders to talk to; however, they’ll probably have a similar answer unless you offer a solid plan for what you want to build.
On a related note, I recently saw an insert in a local magazine about the Annual Parade of Homes we hold here in the Flathead Valley, sponsored by the Flathead Building Association. After looking at it, I set it aside. Then, I had an a-ha! Moment.
There were 11 homes featured, all with floor plans, descriptions of the finishes, prices per square foot, and similar details. That gave me the idea of using that as a model to create a kind of catalog people could look through, with which we could help them break down the square footage so that people could find out what they could get in a home of a certain size.
The prices of these homes range from under $200 per square foot to over $300, averaging out at about $228 per square foot. If you’d like to see the homes and explore their details so you can have an idea of what kind of home you could build, check out this PDF file.
Here’s a spreadsheet breaking down the cost per square foot on each of these homes.
Prices have crept up about 3% from last year. We’re going to turn this into a yearly event and report back to you next year when the next Parade of Homes is set to begin, letting you know how prices have changed over time.
If you have any questions about buying homes or prices per square foot, feel free to reach out to me. I’ll be glad to help you.