Are you a new homeowner undecided whether you should buy or build a modern home? The fact is you can find a house with a modern design but will it fit in with your needs. Still, you can build one! By constructing one, you can then find a home to live in, more than just a shelter.
You will be able to escape and engage with the surroundings to call your haven after work. Yet, you do not want just a box. You want a place to celebrate moments with the family. Furthermore, building a place you can call home is challenging yet complicated to determine the costs. Nevertheless, what does it cost to build a modern home?
Average Cost to Build a Modern Home
The modern house price in the USA varies. The average cost to build a modern home for a single-family range from $240,000 to $710,000. Therefore, the average cost of building a modern house will cost you around $425,000 for the job. While the average cost of building a modern home on a budget is about $140,000 without charges.
Building a modern home from scratch can come to $1 000 000. This includes your landscaping, covered deck, with three garages made with quality material. While these are average prices, MODLUST is here to help break it down for you further!
Cost per Square Foot to Build a House
When you build a modern home per square footage, most builders calculate the total square footage in different amounts. For this reason, the average costs can vary from the type of features such as a basement, attic, porches, utilities, and more.
Square Footage with Average Cost to Build
- 800 square feet – $130,500
- 900 square feet – $146,800
- 1000 square feet – $165,000
- 1200 square feet – $196,000
- 1500 square feet – $245,000
- 1600 square feet – $260,900
- 1800 square feet – $294,000
- 2000 square feet – $326,500
- 2500 square feet – $407,500
- 2700 square feet – $407,700
As you can see, the more square footage, the more you pay. These are the average cost of building a modern home.
Cost to Build a Modern Home
Another consideration to keep in mind is the number of stories available in the house. While you can find it in square feet, you need to consider the different heights. One story vs. two stories home, the price does not vary much as a typical one-story home like a ranch usually is more prolonged and widespread. For this reason, you need more roof space with a higher cost per square foot.
By building, the interior space up instead of out can even cost you less. Sometimes, you find a two- to three-story home larger with a considerable footprint than a one-story home. This would make the costs more expensive to build as it has a larger design and not because it has more floors.
For this reason, you can pay for a one-story home from $130-$200 sq. ft. and for a two-story house, $130-$180 sq. ft. While your three-story home, on average, costs $130-$180 square feet.
Material Cost to Build a Modern House
Now, it does not stop here as you need to consider the material when building a modern home. Due to the architecture and more complicated builds, you can pay more per square foot, taking the construction method, materials, and the builder into consideration to get to a final price.
On average, when you look at the material costs, it is about $50 per sq. ft. Or it can be between 41.5%-51%. However, building a home with two stories spreading over 2,776 square feet with the materials can cost you $140,000. The price includes the foundation, framing, siding, roofing, exterior, interior fixtures, drywall, windows, etc.
Now add an average of $3,430 for the cabinets, $8,729 for the HVAC, and your appliances; that is a total of $2,378. The material price varies depending on what is used in the construction, from durability, energy costs, and social cost to eco-friendliness.
Labor Cost to Build a Modern Home
When building a modern home in the USA, different contractors work together, and most of them charge their labor hourly. You may find some professionals charging you per square foot. Here is a breakdown of average costs:
- The architect can charge 10-17% of the total building expenses.
- Then you have the structural engineer charging from $100-$500 per hour.
- Furthermore, you need to consider the plumber charging from $40-$100 per hour.
- The HVAC technician will charge you $50 to $75 an hour, while landscapers charge $45-$75 an hour.
- You also need to consider the concrete worker’s fees of $110 per cubic yard and the flooring installation starting from $5 to $20 per square foot.
- The house needs painting, and painters can charge $50 per hour while the roofer charges you $1 to $1.50 per square foot.
- Now the carpenter needs to complete the finishing inside and outside the home, charging $70 per hour.
- Lastly, you have the tiling contractor charging $5 to $10 per square foot.
Home Construction Cost Breakdown
When it comes to the cost of building a modern home, you need to take different components and stages into consideration. Furthermore, the prices can vary depending on how the house is built. According to the National Association of Home Builders, you will pay an average for 2,776-square-foot home:
Construction and Average Cost
- The site work – $16,600
- Foundation – $26,800
- Framing – $42,900
- Exterior Finishes – $35,500
- Interior Finishes – $70,900
- Major Systems – $34,200
- Final Steps – $17,500
Cost of Modern Home Plans
Modern house plans can start at $500 up to $2,500, with the architect’s average hourly rate is $60 to $130 per hour. Alternatively, they can charge you $2-$50 per square foot for their design work. With a sample of 2,776 sq. ft., the direct costs can come to $6,000.
Site & Prep Work
As you are building a modern home from scratch, you need to start with the site preparation. These include the permit fees ranging from $400 up to $4,000. Then you have the impact fees between $2,000 to $3,900 to connect your property to public services such as sewer facilities and water. Furthermore, you need to have a sewer inspection costing you around $5,000 with the architecture and engineer fees of about $3,300.
The average cost of building a modern home to lay the foundation comes to $26,800 if the house is 2,776 sq. ft. The total includes excavating the ground, concrete, retaining the walls, and doing the backfill. You can expect to pay $6 per square foot for a concrete slab, while the soil grading can come to a total of $3,400. If they find abnormality and need excavating of the earth and rocks, you can pay anywhere $5,000-$20,000.
The Average Price to Frame a House
According to National Estimator, the cost to frame your modern home can range from $13 per sq. ft. This includes the labor and lumbar expenses when building a single-story house. However, you can pay $22 per sq. ft for your double-story home. Alternatively, you can pay for a 2,776 square foot modern home $42,900 or $15 per sq. ft. The price included the homes framing, trusses, metal/steel, and covering. The price of lumber can fluctuate and can have an impact on your final cost.
Costs for the Exterior Finish
Now that your foundations are laid, you need to create an exterior look by completing the windows, roof, siding, and doors. If you’re lucky, you can come to a final cost of $35,000 that includes:
- Roof – $3,200 to $9,000
- Doors – $1,200 to$3,200
- Windows – $5,000 to $10,000
- Siding with Vinyl – $4,800 to $11,000
Average Cost for the Major Installations
These rough-in costs comprise the electric work, HVAC system, and plumbing. The rough-ins are elements that you do not find included in the construction but are essential when you use your home. The combined average total is about $34,000, including the following:
- Water Heater – $500 – $1,500
- HVAC – $3,400 – $6,000
- Septic Tank – $3,000 – $5,000
- Solar Panels – $18,000 – $25,000
Cost for the Interior
When it comes to building a modern home, the interior is twice the cost of your exterior finish. It can come to $71,000 of the total building costs. The interior includes the flooring coming to about $13,800 while tiling on average prices up to $5,000. Furthermore, the insulation totaling about $2,200 with your kitchen cabinets can come to $8,500. Moreover, you have the plumbing fixtures costing you from $150 to $350 each with appliances that can reach $15,000. Now, if you do want a fireplace, it adds a total of up to $2,500.
Adding the Final Details
When you look at the final details, it can cost about $17,400 for a home of 2,776 square feet. The figure is compiled with essential additions that might not be essential, but it’s nice to have. These include a patio costing up to $4,300 with a driveway $6,100, a deck $10,000, with a screened-in porch $3,500. Then you can add a patio enclosure up to $18,700 with landscaping $16,000. After final additions, you need to have the final cleanup done to cost around $3,000.
Additional Price Factors to Consider
While the above costs are average and your modern home is built, you need to take the additional prices for the following into consideration.
The Land and Size
Buying land to build a modern home varies depending on the size of the plot, the place you live, and if it already has a house on it. Suppose there is already a residence on it. In that case, you will not be paying the land value as the structure’s overall assessment is also included.
The Number of Stories
As mentioned earlier, the number of stories in the home can also affect the price. While you can pay a per square foot price, always consider the height as well. The fact is that whether you build a one-story or two-story home, the merits do not fluctuate much, and best to build the interior space up instead of out can cost less. Therefore, you can pay up to $200 square feet for a one-story home, while a two-story home can cost you up to $180 sq. ft.
Added Costs for a Pool
Depending on the type of pool you want to add, you can consider the following costs:
- A vinyl-lined pool above the ground is your cheapest option starting at $3,000 but will not add value to your property.
- Building the in-ground pool costs $30,000 to $80,000 and adds some value to the landscaping.
Sometimes you want other recreational features included, and you will need to consider these costs as well:
- Basketball or Tennis Court – the average cost of a basketball court is $30k, while a tennis court can cost $65k.
- Home theater in your basement – if you want to finish the basement with this feature, the price ranges from $25k to $55k—another $1,300 added for your theater setup.
So Do You Buy or Do You Build Your Modern Home?
It all comes down to different factors that can range from zero up to $50k and more. If you already own land, then building a modern home is better than buying one. If you do decide to buy a home, you can expect to pay $260k. Furthermore, your location also plays a role with the fees included of the real estate agent.
However, according to the US Census Bureau, when you build a modern home, you can expect to pay $100.40 per square feet that is the lowest price found in the South. While in the North, you can expect to pay $155.21 per square foot.
Furthermore, these prices do not include your land cost, electrical, water line, and septic system when building a rural area. Lastly, it all depends on your budget what you can afford. Whether you want to buy a new home or build a modern house. You can find everything at MODLUST! Browse through the homes to purchase architects and interior designers in one place.