![]() Not every agent has that unique perspective, he notes. You should work with an agent who has experience guiding clients through the building process, says Ahern. Regardless of your approach, here’s his top advice for people looking to build: “hook up with the right real estate agent.” Jon Ahern, a real estate agent in San Francisco’s Bay Area, often works with clients who are tearing down properties to make room for new construction - an approach that can have significant tax benefits that make it easier to afford a new house, he says. There’s also a price difference between a custom home and a production build, where developers have planned subdivisions with various lots and floor plans to choose from. Your precise cost will vary depending on factors like the region where you want to live, the square footage you have in mind, and the materials used to build. ![]() “The properties for sale in our area right now are through the roof - a 2,500-square-foot house is about $1.6 million!” Nadia Aminov, a Baltimore, Maryland, agent who completes 15% more sales than average, goes on: “Ten years ago, the same house cost about $900,000!” Plus, with existing-home inventory low and the median price of existing single-family homes breaking 360,000, according to fourth quarter 2021 data from the National Association of Realtors® (NAR), it might seem cheaper to do it yourself, especially if you live in an expensive area. “Our best customers, this is something they’ve been thinking about for a long time,” says Chad Hackmann, partner at Alair Homes Arlington, which provides custom-built homes and renovations in the Arlington, Virginia, area. And you can influence the design, so your house is just as you envision it. To start, everything will be new, from the carpets to the sinks to the dishwasher. There are plenty of reasons to build a new house rather than buy an existing one. Census Bureau puts the sales price of a new home higher, at an average of $496,900 in January 2022. So how much does it cost to build a house? According to HomeAdvisor, the national average cost to build a new home in 2022 is $283,900. ![]() In certain scenarios, it could be less costly to build than to buy. Amna Shamim contributed research and writing to the most recent version of this story. ![]()
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