If you own a piece of property and your thinking of having a new home built on it, you’re going to want to know the costs. There are certainly multiple variables, but we’ve tried to break it all down for you here by answering the burning question – What are the costs to build a home on 2024? Well, we have your answers!
Average Land Costs
The actual price will depend heavily on the popularity of where you want to buy. A wooded lot without neighborhood amenities could run $4000 an acre, but if the property is waterfront or is in a sought after neighborhood with amenities, or otherwise preferable views; the costs could be much much higher. REMEMBER HOWEVER, buying in an already established neighborhood will also save you a lot of trouble AND the cost of many of the items listed below. In an established neighborhood, you won’t need septic or well and you shouldn’t have to worry about utility hook ups. Many builders and developers will buy lots in established neighborhoods and the lot you purchase from them may already be cleared and ready to build on, saving you a great deal of money and stressful planning.
Building On A Rural Lot
If you choose to save a little money and buy a more rural, uncleared, unprepared homesite on which to build your new home, you will need to take into consideration the below necessities. Your chosen builder should be able to help you find the appropriate (and hopefully, trustworthy) folks to get these things done.
Land survey
Once you have the plot of land, you’re going to need to have it surveyed. A land survey will identify the boundaries of your property, and it will cost between $500 to $1,000. Of course, that price tag depends on the property size and condition.
Clearing the land
After the land has been surveyed, it is going to need to be cleared. Clearing the land means debris, rocks, and vegetation will be removed from the area. The property will then be leveled or regraded so that it will be ready for construction.
Pouring the foundation
Although it may not feel like the ground is moving under our feet, the earth is always settling and shifting — that is why you need to pour a foundation when you want to build a house. It will protect the structure from damage or cracking due to the shifting ground.
Pouring a concrete foundation could cost between $5 to $8 per square foot. Keep in mind that there are factors that go into the cost of a foundation.
Utility Hookups
Before you can start building on your property, you will have to get it ready for utility hookups. These hookups include water, waste disposal, and energy. If you’ve bought a less expensive lot that isn’t in an established neighborhood, you’ll end up paying more to get utilities to your new home.
Water and waste disposal
Do you think about where your water goes when you wash your dishes or flush the toilet? No? Don’t worry — not many people do. But, if you’re building a new house on a vacant piece of land, you’ll need to to have it done beforehand.
There are two options available: sewer hookup, or installing a septic tank and well. Deciding which system you’d like to use is dependent on where you’re building; you may not have a choice. If you’re in the middle of nowhere, a septic system with a well will most likely be your only option.
The cost to connect to a sewer system
Connecting your home to a sewage system isn’t going to be cheap. The cost to connect your home to the city’s system can range from $5,000 to more than $20,000.
The installation cost includes:
- Cost per foot for sewer line: On average, the cost to install a sewer line is measured by linear foot, ranging from $50 to $250 per foot. Installing new pipes will cost somewhere between $3 to $20 per foot, with an additional charge for labor. Labor can run between $30 to $247 per foot.
- Trenching costs: The cost for trenching (when pipes are installed underground for drainage) will depend on the length and depth needed to dig the trench. The price to do this is $800 per linear foot on average.
- Backflow prevention: A backflow preventer is necessary to keep the wastewater flowing into the sewer system and not back into your home. The cost for this will range from $125 to $900 per linear foot. Don’t forget the cost of labor, which ranges between $25 to $250.
- Sewer cleanout installation: A sewer cleanout is an access point for plumbers when they need to remove any clogs that may be in the line. The price to have one of these installed is going to be around $2,000, including materials, equipment, and labor.
If you connect to the sewer system, you’ll have to pay a monthly bill for usage. The monthly cost will vary from town to town, so you’ll want to check with your local municipality to work it into your budget.
Septic and Well
Again, if you’re on a more rural area and not in an established neighborhood, you may not have a sewer system to hook up to. In that case, you’ll need a septic tank and a leach field on your new property.
To get water to your house, you’re going to need a well drilled on your property to about 150 feet or deeper.
Installation costs for septic and well
Installing a septic tank depends on a variety of things, such as the system’s size, the location, the type of tank and pipes needed, and the terrain. A small septic system can cost between $3,000 and $5,000, whereas an extensive network can range between $5,000 and $10,000.
Digging a well can cost between $1,500 and $12,000, but the average cost is around $5,500.
Power
Now, you’re going to need to budget the cost of installing an energy source. The most common options are connecting to a power grid (electric lines) or running a gas line — both of which require a licensed contractor to install.
Connecting to a power grid
In most situations, you’ll be able to get energy by connecting to a power grid. With that said, it’s not going to be easy, nor will it be cheap.
The first step to connecting to a power grid is to call the local power company. The power company will walk you through the requirements to determine the cost of service and the type of service you’ll need.
In most cases, the power company will charge a flat fee to run wires from your home to the nearest electric pole, and then they will charge you for every 100 feet. The cost of a new overhead connection service can range from $799 to $1,560. For an underground new connection service, it can range from $900 to $2,700.
The extra charge can range from $5 to $15 per 100 feet. Just be aware that this cost can add up quickly, especially if your house will be far away from an electric pole.
Running a gas line
If you prefer not to connect to a power grid, you can use either propane or natural gas. This option is much cheaper to install, as it can cost anywhere between $120 and $2,500, or $20 per linear foot for a simple installation.
Keep in mind; if you choose to use gas or propane for your energy needs, you are going to factor in the gas company you are using, how far your home will be from the mainline, local building codes, and whether there’s a clear path from the mainline to the house. You’ll also have to decide if you want to purchase a tank (a 1,000-gallon tank can cost between $800 and $3,000) or lease a tank (depending on the company, it could cost as much as $150 per year to rent a tank).
Building Your Home
Now that we’ve gotten through all of the lot prepping needed for some, let’s talk about the costs of building the actual home! Overall, your builder will tell you that the costs to build a home will depend mainly on:
- Home Size, Style, and Complexity: Larger homes require more materials and labor, and modern or intricate designs may require specialized expertise and higher-quality materials.
- Choice of Materials and Finishes: Using high-end materials or imported products will increase costs, while using more affordable and locally-sourced options may help save money.
On average, building a home in South Carolina can cost anywhere from $150 to $250 per square foot. This means that a 2,000 square foot home could cost anywhere between $250,000 to $500,000.
Design and Architectural Fees
Designing your dream home requires hiring an architect or designer who will charge a fee for their services. This can include creating blueprints, making revisions, and overseeing the construction process as they bring your vision to life.
Construction Materials and Labor
The bulk of the costs to build a home in South Carolina comes from construction materials and labor. This includes foundation work, framing, roofing, electrical and plumbing installations, and interior finishes.
Interior Finishes and Fixtures
The final step of building a home is finishing the interior. This includes installing flooring, cabinets, countertops, fixtures, and appliances—all of which can significantly add to the total cost.
Ways to Manage and Reduce Costs
While building a house can be expensive, there are ways to manage and reduce costs without compromising on quality. It’s important to consider the following options:
Efficient Design and Floor Plans
By reducing the overall square footage and minimizing hallways or unused space with an efficient floor plan, you can decrease the amount of materials needed for your home. In addition, energy-efficient materials and appliances can not only help reduce your energy bills in the long run, but also qualify you for tax credits and rebates.
Hire A Reliable and Experienced Homebuilder
Working with experienced homebuilder like LADY STREET BUILDERS can help ensure that the construction process runs smoothly and efficiently. We have the knowledge and expertise to avoid costly mistakes, so your timeline can avoid excessive delays and mishaps. We’ll point you in the right direction during your selections, coach you through any questions or concerns, and help you make well-informed decisions.
Lady Street Builders has cultivated a construction process that produces the highest quality homes both on-time and on-budget. We are proud of the relationships we share with local contractors and suppliers. They share our passion for uncompromised craftsmanship. We look forward to sharing this process with you as we conduct on-site meetings including pre-construction, pre-drywall, hardware, landscaping and others, as needed. We will negotiate with suppliers on your behalf to offer cost-effective alternatives for materials and finishes.
If you were hoping to learn what the costs to build a home are, we hope that this blog has made you feel more enlightened! If you’d like to speak with Lady Street Builders about building your own custom home, contact us!