What is the cost of new home construction?

Maybe that open-plan first floor has proved elusive among the existing homes on the market or perhaps you don’t want to try and retrofit a modern plumbing system into an older home.

If so, you should consider contacting a builder and constructing your own home. There are a couple ways to do this: You can buy land and work with architects to design a home. You can also find a new homes community that is under construction and customize a home for your family. Whatever you decide, there are some steps you should take to accurately determine the cost of your new dream home.

  • Talk to local builders and real estate agents who specialize in new homes. Tell them what you’re looking for, and ask what they usually charge for the size and type of home you want, and for the amenities that are important to you.
  • Figure out what you need and what you want, says the National Association of Home Builders. Make decisions based on how much it will cost, not on emotions.
  • Tour as many homes or model homes as possible. Talk to different builders and agents, and it’s likely you’ll be able to determine a fair price for your new home.
  • Ask about the qualities of your new home that may affect long-term maintenance costs. Many new homes will be outfitted with systems or materials that will cut the cost of utilities in the long term.

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