Have you dreamed of building your dream home but thought you couldn’t afford it? The cost to build a home depends upon the size of your home, the cost of the land it occupies, and also how many top-of-the-line features you choose.
- In 2017, the average cost of a new home was $360,900. That’s according to the Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.
- The average size of a new home in December 2016 was 2,661 sq. ft., according to the National Association of Home Builders (NAHB).
- Do the math and you’ll find it costs $136 per square foot to build a home in 2017.
- Keep in mind that’s a national average. The cost in your market will depend on the cost of land, which varies widely from one area to another – and, to a lesser extent, the cost of labor locally.