Build Own home cost
Ryan and I have been writing a lot of huge checks lately, so I thought it was worth talking about budget on a new construction home.
Obviously, our experience won’t be the same for everyone, but I thought some of you may be curious about how we plan to pay for the house and how the budget will be split up.
(Mostly because this is something Ryan and I are hugely interested in, and love perusing forums and blogs that are really transparent about home building costs.)
So, the bottom line is that right now, our goal is to spend $125, 000 building this house from start to finish.
Here’s the break-down of where we see that budget going:
Ryan and I decided to share actual dollar amounts, because we think it just makes the most sense. I think that people are curious about what things really cost.
A few notes:
- Some of these prices should be very close from the estimates we received – lumberyard, windows/doors, foundation, kitchen and geothermal.
- Others are simply educated estimates based on what we’ve paid in the past. Things like insulation, electrical and plumbing are material costs we’ve dealt with in past renovations, so we made a best guess.
- Some things are split in strange ways. For example, the cost for the kitchen will include cabinetry and a few finish details (we plan to reuse the appliances in the barn and have hand-me-down granite countertops). But some of the plumbing and electrical and walls and building materials budgets will also go toward the kitchen cost. We just broke it out the way we thought would be simplest to keep track of.
- We’ve already accounted for the kickbacks we’re expecting for geothermal. So, we expect the initial cost to be higher and then be offset by rebates to get to the cost above.
We’ll try to share the budget breakdown throughout the coming months/year in order to stay transparent about where we’re at. I can’t promise how often this will happen or what it will look like, but we’re trying to keep track of everything and will do our best.
