Building a new house is like setting out on a journey. As you prime your spirit of adventure and prepare to take the first steps, comprehending the factors that influence your destination will help you plot a clear route forward. These factors fall into three main cost categories: the property/site, the design consultants, and the builder/construction.
The place where you will live—be it city or country, swank zip code or homey neighborhood, vacant lot or occupied—sets the tone for the character of your project. Securing a place for your home could range in cost from $75-$500k. If you are fortunate enough to already own a site, scratch this line item off of your budget.
What your house looks like and how it functions is the product of a collaborative process between you and a design professional. The architect can help translate your vision into something tangible, assist in finding land, and coordinate with engineers, the city, and other designers. (Learn more about how we partner with architects). A ballpark estimate for architectural services is 10% of the total construction budget. Things such as engineers, permits and fees, demolition, and site development cost additional money, between 5-10% of the construction budget.
With the groundwork laid, it’s time to start bringing your home to life. Hammer & Hand is the builder. We budget, schedule, and build homes that will last. We advise on best construction practices, something that makes us unique among our homebuilder peers. Our building science and energy performance expertise ensures that your house will deliver superior comfort, health, and efficiency for you and your family. The projects we build generally cost between $300 and $450 per square foot (though it’s always possible to be lower or higher than this price range).
Sample Home Estimate
Now let’s put it all together. Say we build a 2,500 square foot house at $300 per square foot. The base cost for the home is $750,000. Next, factor in 15% for the architect and other “soft costs,” in this case $112,500. Add the new total ($862,500) to the cost for the land/site, and the picture is complete.
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