new home cost
I have read many threads here over the last few weeks trying to learn as much as possible. I live is San Antonio, Texas and am trying to find a builder to build my families dream home. I have found a number of builders that can do the job. The problem is it seems that either I am not aware of the real cost to build a custom home or maybe I should just stay where I am. I am not trying to build a model home with all the bells and whistles but at least a few of them. What is a "average cost" per square foot for new construction. I was trying to stay in a budget of 250K. I am trying to get a 3100 square foot house. Is this unreasonable? Thanks for all of the help.
Building costs vary greatly from area to area, and there are too many variables to say what is "average". I'm a long-time real estate broker, not a builder, but my guess is that $250,000/3100 = $80.65 per sq. ft. is low for San Antonio. $100 per sq. ft. + is probably more realistic.
The only way to find out is to get at least three itemized bids from licensed general contractor builders (and get references), specifically on your plans for this home.
Based on my experience of building a new home (and the things that I've heard from other people over the years who have had homes built), add 15%. That should cover it.
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