How Much Does it Cost to Build a House?

Posted on: June 25, 2020

Why is it always so difficult to get a straight answer to this question? It’s because there are hundreds of materials/finishes that go into construction of a house and almost every single one of them comes in several options ranging from very basic to the highest quality. To understand what I mean swipe left on this photo and see just one example.

Both faucets in that picture do the exact same thing - turn water on/off, but there’s a significant price difference. And before some of you may think “who needs a $4000 faucet?!” please remember that nobody “needs” a $100k car or $5k handbag and yet people buy Range Rovers and Chanel bags all the time. Almost every product around us comes in different levels of quality and corresponding price points, and we get to decide for ourselves what level of quality we can or want to invest in.

These two faucets are just one example but the same applies to every other product that goes into a home - there are many different types and price points for windows, roofing, heating/cooling systems, insulation, kitchen cabinets, appliances, lighting, paint and everything else. 

That’s why when someone asks how much it costs to build a house, it’s very similar to asking how much it costs to buy a car? There’s Ford Fiesta at $15k and then there’s Rolls Royce at $300k - both cars will get you from point A to point B, but your comfort, safety and the overall experience will be very different. The same applies to houses. 

After more than a decade in this business I feel like I’ve seen or heard of it all - some people are able to go with the very best for their homes, others can only afford very basic, many people are somewhere in between, some will go with the cheapest water heater but will spend a fortune on the foyer chandelier, others will do the exact opposite. There’s no right or wrong way as we are all different, but I can tell you one thing for sure - there’s no “one size fits all” answer to that question, so if you’re interviewing builders for your home - make sure to ask all of these questions if you’re presented with a “price per square feet to build” to know you are comparing apples to apples. 

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