New Home Construction cost

  • Fanatics -

    Thank you for your patience today and welcome to the newest version of Cyclone Fanatic!

    Most of the changes we have made are very simple, but will greatly improve your user experience while visiting the website.

    We have upgraded our forum software to speed things up. Our homepage is much cleaner and should be even more mobile friendly than before.

    We appreciate your loyalty and are committed to not only keeping Cyclone Fanatic in tip-top shape, but continuing to build this community for the next decade and beyond.

    We ask that if you are experiences any glitches to let us know in this thread . Will will be diligently working on the site all day.

    Thanks again.

    Chris Williams - Publisher

ag2010law

New Member
Feb 7, 2018
8
1
3
33
Wife and I have been planning on constructing a new home for 2 years and finally have the plans completed and are getting prices on construction. Just curious what everyone else is seeing for construction prices? It is poor timing, as I know the prices have gone up substantially over the last year but I am trying to get a feel for if we are in the ballpark. We are planning on a ranch house that will be built very solid, 9' ceilings on main level and walk out basement, 3 car garage, luxury vinyl flooring, custom painted cabinets and quartz counters in the kitchen. I don't know how most figure price per square foot but for us including total heated square foot (basement and main level) it is coming out to around $220/sq ft. If you just figure the main level it is $375/ sq foot. Anyone else in this same spot or built a house not to long ago that could share what there price was?
 

amishclone

Well-Known Member
Feb 23, 2014
2,225
1,339
113
41
Make sure you have cash on hand or else your loan is fixed rate. I foresee a hike in interest rates.

We are also planning a major remodeling of our house. I think building materials costs may have come down a bit from last year.
 

Herkster

Active Member
Feb 12, 2016
427
233
43
Lumber prices are soaring still, which sucks, because we also had plans on building this year. However, that quote per sq ft seems extremely high.

Our quote was for 2900 sq ft and a 40x45 attached garage, built on slab. Had 145k in materials and allowances, then concrete and getting the house framed and enclosed was an additional 93k. That doesn't include any hvac, plumbing, or electrical or a sheetrock hanging/ finishing quote. We'll be doing the rest of the interior work ourselves.
 

HandSanitizer

Well-Known Member
Apr 19, 2006
4,282
317
83
43
Bondurant, IA
I would wait (if you have a choice) Like Herkster mentioned, prices have almost doubled for certain lumber prices.
I had priced out a deck remodel for this fall and I quickly decided to wait until next year hoping it will come back down to normal.
 
  • Like
Reactions: CyCrazy

CyCrazy

Well-Known Member
Dec 17, 2008
21,796
7,622
113
Ames
I was going to rebuild my deck, its not huge but lumber prices are stupid high. It can wait till it gets back to normal.
 

allin4clones

New Member
Jan 7, 2021
2
1
3
36
Built a house in 2018 for $133/sq. Ranch house, 8 ft walls, full 9’ basement but unfinished. 6” walls with spray foam insulation. 2 car garage. Custom Amish built cabinets, luxury vinyl plank and tile throughout, quartz counters in kitchen, hard surface in bathrooms, tile master shower, others standard. Finished the basement as cashflow allowed over the last 2 years. I did some of the work, but hired the plumbing, rough electrical, and drywall. Added $17/sq to the above cost for a total of $150/sq for upstairs living space. If you add basement space, I’m at $82/sq.
I will also add that includes my lot price and we are in South Central Iowa not near any metro areas. I know that location does have an effect.
 
Last edited:

Pat

Well-Known Member
Oct 20, 2011
904
1,057
93
OP, where are you building? Seems really high, but that can make a difference, too.
 

farminclone

Well-Known Member
Nov 16, 2009
6,411
6,392
113
The only way to know if you are in the ballpark is to get multiple quotes on the same plan. There’s no way anyone can say it will cost about x/sq foot because plans and quality can vary so much.

Not sure what size house you are looking at, but 1,700 square feet on the main level comes out to $637,500 based on your numbers. That’s an expensive house but without knowing plans and materials there’s no way of knowing whether that’s a fair number or not.
 

BCClone

Well-Known Member
SuperFanatic
Sep 4, 2011
34,280
26,300
113
North Iowa
Wife and I have been planning on constructing a new home for 2 years and finally have the plans completed and are getting prices on construction. Just curious what everyone else is seeing for construction prices? It is poor timing, as I know the prices have gone up substantially over the last year but I am trying to get a feel for if we are in the ballpark. We are planning on a ranch house that will be built very solid, 9' ceilings on main level and walk out basement, 3 car garage, luxury vinyl flooring, custom painted cabinets and quartz counters in the kitchen. I don't know how most figure price per square foot but for us including total heated square foot (basement and main level) it is coming out to around $220/sq ft. If you just figure the main level it is $375/ sq foot. Anyone else in this same spot or built a house not to long ago that could share what there price was?
What I can tell you is from houses built in the last year in NC Iowa. What I've seen in what I pulled up, if I pull out what I remember is normal lot prices, I'm showing 270ish area per finished square foot (above grade is only counted in square feet). These had 3 car finished garages, finished downstairs except small mechanical rooms. These were stick built custom homes that are what would be called a very small step below top end homes. They are homes that could fit in any community and still be nice. Solid countertops, tile and high end carpet flooring, high end cabinets, quite often cherry or birch, Ctile walk in showers and the such.

Does the 375 include the lot?
 

Tri4Cy

Well-Known Member
SuperFanatic
SuperFanatic T2
Apr 4, 2012
1,163
904
113
Des Moines
Wife and I have been planning on constructing a new home for 2 years and finally have the plans completed and are getting prices on construction. Just curious what everyone else is seeing for construction prices? It is poor timing, as I know the prices have gone up substantially over the last year but I am trying to get a feel for if we are in the ballpark. We are planning on a ranch house that will be built very solid, 9' ceilings on main level and walk out basement, 3 car garage, luxury vinyl flooring, custom painted cabinets and quartz counters in the kitchen. I don't know how most figure price per square foot but for us including total heated square foot (basement and main level) it is coming out to around $220/sq ft. If you just figure the main level it is $375/ sq foot. Anyone else in this same spot or built a house not to long ago that could share what there price was?
We are building as we speak. Removing the price of land, we are sitting around $190/sqft. finished space. That's a 3 bed ranch, 3 car garage, LVP through main floor and tile in bathrooms, quartz counters, nice appliances, upgraded windows, walk in tile shower, gas fire place, etc. We are NOT finishing the basement as I'll do that work so again that's just finished space which would be the main floor. Including the lot (0.8 acre) we are around $250 sqft. This is in West Des Moines if that helps. Also our costs were up nearly 10k in the 4 months it took us to agree on a design and sign off on the quote.
 
Last edited:

ag2010law

New Member
Feb 7, 2018
8
1
3
33
What I can tell you is from houses built in the last year in NC Iowa. What I've seen in what I pulled up, if I pull out what I remember is normal lot prices, I'm showing 270ish area per finished square foot (above grade is only counted in square feet). These had 3 car finished garages, finished downstairs except small mechanical rooms. These were stick built custom homes that are what would be called a very small step below top end homes. They are homes that could fit in any community and still be nice. Solid countertops, tile and high end carpet flooring, high end cabinets, quite often cherry or birch, Ctile walk in showers and the such.

Does the 375 include the lot?
The price doesn't include the lot since I already own the ground. We live in western Iowa in the country. I figured prices would have gone up but the increase is seeming ridiculous. If this is truly what is happening across the board then I don't know how people are going to continue with there building plans. But then whos to say prices will come back down to where they were? Like farminclone it is tough to compare plans and I will have to get other quotes on our plan but I appreciate the input just to get a ball park. It tics me off when home builders say "yeah but look interest rate are low so it isn't costing you anymore" I get that however I want to put that money back into my pocket not spend it on materials.
 

BCClone

Well-Known Member
SuperFanatic
Sep 4, 2011
34,280
26,300
113
North Iowa
The price doesn't include the lot since I already own the ground. We live in western Iowa in the country. I figured prices would have gone up but the increase is seeming ridiculous. If this is truly what is happening across the board then I don't know how people are going to continue with there building plans. But then whos to say prices will come back down to where they were? Like farminclone it is tough to compare plans and I will have to get other quotes on our plan but I appreciate the input just to get a ball park. It tics me off when home builders say "yeah but look interest rate are low so it isn't costing you anymore" I get that however I want to put that money back into my pocket not spend it on materials.
If a builder is mentioning interest rates are saving you money, I would look elsewhere. Appears they are eating some of it for themselves in a statement like that. There is more than enough work right now for people, actually a little too much with the derecho not fully completed, so get a few quotes.
 

TexCyted

Active Member
Oct 30, 2018
104
134
43
39
DFW
I had a family member just finish a build in SWIA. I saw it over the holidays. It is an 1800 sq ft ranch home. 3 bed/2.5 bath with unfinished walkout basement. Interior is nice with granite and hardwood floors. Tile bathrooms. Tile shower surrounds. Upgraded cabinets. 40x30 garage. They paid $50k for their lot. Including the lot they were at $186/sq ft. All of the work was contracted by them, no GC. Grand total was just south of $400k. He will still have to do landscaping and seed/sod a yard.

They have a quote to finish the basement as well. 2 beds, 1 bath and family room over 2/3 of the basement. That was $40/sq ft.

He will be pushing a half mil when it is all said and done.

He was pissed that the 2 story house I am building in TX (tract home) is under $120/sq ft with everything included. I built a home in the same development 4 years ago for $89/sq ft.
 

BCClone

Well-Known Member
SuperFanatic
Sep 4, 2011
34,280
26,300
113
North Iowa
I had a family member just finish a build in SWIA. I saw it over the holidays. It is an 1800 sq ft ranch home. 3 bed/2.5 bath with unfinished walkout basement. Interior is nice with granite and hardwood floors. Tile bathrooms. Tile shower surrounds. Upgraded cabinets. 40x30 garage. They paid $50k for their lot. Including the lot they were at $186/sq ft. All of the work was contracted by them, no GC. Grand total was just south of $400k. He will still have to do landscaping and seed/sod a yard.

They have a quote to finish the basement as well. 2 beds, 1 bath and family room over 2/3 of the basement. That was $40/sq ft.

He will be pushing a half mil when it is all said and done.

He was pissed that the 2 story house I am building in TX (tract home) is under $120/sq ft with everything included. I built a home in the same development 4 years ago for $89/sq ft.
It's a lot cheaper to go up than it is down or out. One option to cut costs is to widen the house. Typical ranch homes are 28 foot of width before any knockouts. We are 32' before any offsets or knockouts, we also have an open floor plan and it did cut 5% or so off the cost verses the same square footage in a longer house.

186/sq foot would be extremely low from the houses I've been through.
 

motorcy90

Well-Known Member
Aug 12, 2018
2,524
1,522
113
27
Iowa
a few of the pre manufactured/modular style builders I have looked at are running in the $280K-$360k range for something I would want. 4 bed, 3 bath with an attached 3 car garage around 2,200 square feet above grade builds. and that is just for the house not including land prices. I think this is the route we will go in a few years ourselves
 

cowgirl836

Well-Known Member
Sep 3, 2009
40,747
20,495
113
Construction on our ranch started 6 years ago this week.......we were in the $160-$150 sq ft range (excluding lot). Basement was left unfinished so that was main floor. Similar finishings - 9/10ft main floor, granite, wood flooring, etc. We are midwest but would guess more expensive land than your area. Know lumber is way up but that does seem steep. Of course I am seeing new builds of similar size in the 500-600+ range in a very hot seller's market so maybe it really has gone up that much since we built.
 

cyfan92

Well-Known Member
Sep 20, 2011
2,257
2,770
113
Augusta National Golf Club
Wife and I have been planning on constructing a new home for 2 years and finally have the plans completed and are getting prices on construction. Just curious what everyone else is seeing for construction prices? It is poor timing, as I know the prices have gone up substantially over the last year but I am trying to get a feel for if we are in the ballpark. We are planning on a ranch house that will be built very solid, 9' ceilings on main level and walk out basement, 3 car garage, luxury vinyl flooring, custom painted cabinets and quartz counters in the kitchen. I don't know how most figure price per square foot but for us including total heated square foot (basement and main level) it is coming out to around $220/sq ft. If you just figure the main level it is $375/ sq foot. Anyone else in this same spot or built a house not to long ago that could share what there price was?
When you say "built very solid" and walk out ranch.. If you are in the DSM suburbs, you're probably looking at $500K all in with basic landscaping.
 

motorcy90

Well-Known Member
Aug 12, 2018
2,524
1,522
113
27
Iowa
When you say "built very solid" and walk out ranch.. If you are in the DSM suburbs, you're probably looking at $500K all in with basic landscaping.
it is pretty sad when 1/4 to 1/2 acre lots are going for 70-80k themselves anymore around Ankeny.
 

cyfan92

Well-Known Member
Sep 20, 2011
2,257
2,770
113
Augusta National Golf Club
You're up against 1/2 of the homebuying crowd or more not really caring about the actual home price anymore. It's all about what internet websites and lenders will give them for a monthly mortgage payment...