The average cost to build a new single-family home in the U.S. is around $312,000. Of course, there are several factors to consider, including your geographic location and the features you add.
Are you ready to build a house and put down roots? If so, then this figure might seem a little daunting. Thankfully, you can build a home for much less.
Does $100,000 sound more doable? Read on to discover if this is possible and how to make it happen.
Start With The Land
Before you can begin building a house, you’ll need to secure a plot. Some people dream about constructing a dream home on hundreds of acres, while others prefer a tract home in a neighborhood.
Regardless of what your vision looks like, most land isn’t free. The exception would be family land or any type of property that you inherit.
Before you start planning your build, you’ll need to know how much your land will cost. The price per acre varies from county to county, so check with your real estate agent before moving forward.
Consider Small-Scale Builds
If you only had $100,000 to work with, then this number will get smaller after you’ve paid for the land. Building a house for less than this amount might seem impossible, but there are ways to do it.
Look into small-scale builds such as tiny homes or shipping container homes. Gone are the days when these were basically glorified campers. Now, you can find high-end homes with plenty of special features including:
- Designer micro-kitchens
- Patios and porches
- Spacious loft spaces
These homes pack a lot into a tiny footprint. If you need to know how to build a house on a shoestring budget, start here.
Contact Custom Builders
Professional home builders will usually be able to offer advice on how to achieve the home you want on the budget you can afford.
Reach out to a local team in your area and share the number that you need to stay within. Then, see what they can offer in that price range.
To understand exactly what you need, start by making a list of features that you absolutely must have. This might include a two-car garage, a primary bedroom on the main level, or handicap accessibility.
Then, make a list of your nice-to-have features. These are ones that you would prefer if possible, but could ultimately live without. Common choices include:
- A walk-in closet
- Large island in the kitchen
- Guest bathroom
- Playroom or home office
By scaling back a little, you may be able to afford the custom home that you’ve always wanted.
Are You Ready to Build a House?
It’s possible to build a house you love without breaking the bank. The key is knowing where to look and who to contact.
If you’re ready to move forward with this big step, then connect with a local real estate agent to secure a plot. Then, meet with a building team to turn your vision into reality.
In the meantime, we’ve got you covered with all the real estate, travel, and finance news you need. Be sure to check back often for more informative guides.
