If you’re in the market to build your own home, you probably have many questions running through your head, ranging from How much it will cost? What kind of things can I do myself, and what should I have professionals do?
The answers to these questions depend on several factors, including the square footage of your home and whether you choose to hire professionals or do the work yourself.
What are my options?
If you’re not planning on hiring out your construction, you have two main options: build it yourself or hire friends and family members.
The DIY option will always be cheaper than getting others to do it for you. But not only that, building something with your own hands is a rewarding experience that adds value to your property, especially if you plan on selling at some point.
Why do I want to do it myself?
One reason is you can save money by doing some of it yourself. If you plan to do all or most of your work, expect average costs for materials and labour to run around $125 per square foot if you build a ranch house (no basements) and $175 per square foot if you make a two-story house.
A typical 1,500-square-foot home with two bedrooms will cost between $210,000 and $330,000; you should put in about 1,000 hours (50 weeks at 20 hours per week).
Remember: This is just an estimate the actual amount could be more or less depending on local conditions like labor rates and material prices.
What will I save by doing it myself?
The cost of hiring an experienced contractor will vary greatly depending on your location but expect to pay anywhere from $25 to $100 per hour or more.
If you have particularly specialized or complex needs (such as building a home on a steep slope), expect those rates to be even higher.
Add in utility hookups, permits, and other fees, and you’re looking at close to $150,000 just for labor costs.
You can save as much as 65% over what it would cost if you hired an outside company! That’s why you must build your house yourself when possible – by doing so.
Will I need help?
Almost certainly. While it’s possible that you can find some do-it-yourself books, even building software isn’t always easy. And if you don’t have any experience with construction or carpentry, you’re learning curve will be much steeper and more expensive than someone who already has some DIY experience.
This means that while hiring help is costly, it’s probably cheaper (and less stressful) in the long run than hiring contractors after contractors until you finally end up with one who knows what they are doing.
Where can I get information about what I need to know if I want to do it myself?
To get started on your do-it-yourself house-building project or the house for sale needs work, you’ll need to learn what goes into home construction. Various organizations provide information for aspiring DIY homeowners.
What tools and materials do I need before starting a project like this on my home project?
Working on a house for sale that needs work can save you quite a bit of money over hiring someone else. However, you have to be aware that home improvement projects take time.
If you’re willing to put in that time and effort, your efforts can pay off by saving you quite a bit of money instead of hiring someone else, especially if it’s just one room in your house.
But before you jump right into those home improvement projects and start working on them, make sure that they need some work done!
Otherwise, it’s not worth it. For example: say there are cracks in your ceiling due to foundation issues in which case it makes sense to hire an architect or contractor to help you fix those cracks.
Bottom Line
Building your own home or house for sale that needs work will save you money on your new home, but it’s not cheap.
Plan on spending approximately $300 per square foot of living space and another $200 per square foot of garage or basement.
For example, if you’re planning to build a 2,000-square-foot house with 600-square-feet of basement and garage (1,400 total), expect to spend between $385,000 and $415,000 on materials.
These figures include everything from plywood to plumbing fixtures including other significant costs like lot fees, foundation construction costs, and architect/engineering fees.