How Much Does A New Home Cost?

How much does a new home cost?How Much Will A New Home Cost?
This is one of the most frequently asked questions we get when it comes to building a new home. Unfortunately, it is also one of the few questions that we can’t answer very specifically. Think of it like this:
·         Can you tell me how much it costs to take a vacation? Well, are you planning a weekend getaway to a cabin in Gatlinburg or a week-long cruise to the Caribbean?
·         How much should I expect to spend on a new car? Are you planning on getting a Kia, a Lamborghini, or something in between?
·         What is the average cost of a dinner for two? If you plan on hitting up the local fast food place, your bill will be a lot less expensive than it would be at Malone’s Steakhouse.
The problem with asking open-ended questions like these is that there are so many variables that go along with each question that it is nearly impossible to give an accurate answer without getting more information first.
The same is true when it comes to calculating the cost to build a new home. Are you looking for a 3-bedroom home, or do you need 4 (or more) bedrooms? Are granite countertops in your kitchen a “must have”, or would laminate countertops work for you? Do you have to have hardwood floors throughout your house, or is carpet your preferred flooring choice? Because everyone’s wants, needs, and wishes for their home are so different, it’s hard to give a one-size-fits-all price for how much a new construction home will cost.
We have found over the years that the typical amount of upgrades people choose for their home are around 15-20% of the base price of the home. That means, if the house you choose has a base price of $200,000, the typical amount of upgrades will be between$30,000- $40,000. Of course, that number could change, depending on the individual preferences of your home. If you and your family decide that a walk-out basement, an upgraded kitchen, and an elegant master suite are on your must-have list, then you can expect to pay more, possibly 25% or higher, than someone who has different desires for their home.
We know that buying a new home can be confusing. We are here to help you plan and design your new Ball Homes home within your budget. If you have questions about the costs for a home you are considering, we would be more than happy to discuss it with you. Contact a Ball Homes Specialist today!