How much does it cost to build a home?
Almost everywhere in the US there is a surplus of homes available, prices have dropped so low that it would be crazy to build something new. It is a GREAT time to buy a pre existing home. Interest rates are very low and home prices are rock bottom. There is a huge supply of houses to pick from. Existing houses can be a bargain since they usually include things that new house don’t. Things like landscaping, paved drives, multi-car garage, upgraded flooring, upgraded cabinets and appliances, washer and dryer… When building a new house you should allow for about 15% cost overruns over the advertised price. Most builders are advertising low prices to attract buyers but when you get to the details you will soon find that they are using the cheapest cabinets, flooring, carpet etc. Existing house will have most of the kinks worked out. With a new house you will always run into some problems during the first few years. Just like a new car a new house value drops faster than an existing house
