Are you wondering about the cost of building your own custom home? According to the National Association of Home Builders, the average price for constructing a single-family house is about $103 per square foot.
Keep in mind that the cost of building a house can vary widely depending on where you live. To determine if building a custom home is within your budget, you’ll need a more specific estimate based on your desired location’s price per square foot.
Constructing a Custom Home: What Are the Main Expenses?
Building a custom home in Myrtle Beach involves several key costs. While the exact expenses may vary for each project, there are some significant factors to consider:
- The Shell of Your Home: This includes the roofing, doors, windows, and walls, which typically make up about one-third of the total construction cost.
- Interior Components: Cabinets, countertops, and flooring account for another one-third of your budget.
- Mechanical Systems: Heating, plumbing, and other mechanical systems usually comprise approximately 13% of the total cost.
- Kitchens and Bathrooms: These are often the most expensive areas to build, especially if you invest in high-end finishes like countertops and cabinets, which can cost over $16,000. To save money, consider whether you really need additional bathrooms.
- Architect and Engineer Drawings: These design services typically cost around $4,500.
Other Costs to Consider
In addition to the main costs mentioned above, there are other expenses you should be aware of that are not included in the categories listed:
- Land Acquisition: The average cost of land is approximately $3,020 per acre. However, most homes are built on only a fraction of an acre, so this cost may not be as significant unless you desire a large lot.
- Excavation and Foundation: The cost of excavation and creating the foundation can vary greatly.
- Building Permit: You’ll need a permit to construct your home.
- Pre-Construction Costs: These include land inspections and impact fees imposed by the government to cover expenses like waste removal and electricity.
Advantages of Building a Custom Home
Building a custom home offers several benefits:
- Everything is brand new, from the heating and cooling systems to the plumbing.
- Fewer costly repairs are needed in the initial years if the construction is done accurately with high-quality materials.
- You have the freedom to design your home according to your preferences.
Buy or Build a Custom Home?
Consider these factors when deciding between buying an existing house or building a custom home:
- Upfront Cost: Purchasing an existing home is usually cheaper initially.
- Maintenance Costs: New custom homes in Myrtle Beach typically have lower maintenance costs compared to older homes.
- Landscaping: Existing homes often come with mature landscaping, while building a new home may require landscaping expenses.
- Energy Efficiency: New custom homes can be equipped with energy-efficient features, making them more energy-efficient than older homes.
If you’ve decided to build a custom home and need the expertise of a custom home builder to bring your dream home to life, call Dawol Homes now.
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9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
Dawol Homes Sales Office
3100 Dick Pond Rd # E
Myrtle Beach, SC 29588
We build homes in: Cypress River Plantation, Waterway Palms, Waterbridge, Murrells Inlet, Collins Creek, Bellwood Landing, Carolina Forest, Plantation Lakes, North Myrtle Beach, Socastee, Surfside Beach, Pawleys Island, Litchfield Plantation