The US Census Bureau found in 2019 that the average size of a home was 2,509 square feet, and cost about $383,900 on average.
So if you wanted to buy a home this size and made a 20% down payment, you would need to save $76,780. Of course, this is an average figure and costs will vary depending on where you live in the US.
But what are the figures like if you would like to build a modest home rather than buying an existing home? What if you would like to build your own home in order to get it exactly how you want it?
In this article, we have the answer to the question ‘how much does it cost to build a 1,500 sq ft house?’ and further break the cost down by region and materials (see also “How Much Does It Cost To Build A 1,500 Sq Ft Log Cabin?“). Let’s get into it!
What Does A 1,500 Square Feet Home Normally Have?
Like most people, you may find it hard to process what just the floor plan of a 1,500 square-foot home will look like.
Normally, a home of this size will contain a living room, a kitchen, a dining room, 2 or 3 bedrooms, 2 or 2.5 bathrooms, and a laundry room.
You can go for a single-story or split-level layout. In some cases, a 1,500 square-foot home will contain a garage, and a porch or patio.
How Much Does It Cost To Build A 1,500 Square-Foot Home Where I Live?
The average cost for building a home will depend on the materials you use, and where you live.
The average price range for a 1,500 square-foot home is anywhere between $155,000 and $416,250. The national average lands roughly on $248,000. But if you want to build a custom home, these costs will increase.
Let’s break down the average cost by region:
Northeast: $125- $150+/square foot for a total of $187,500 to $225,000+.
South: $90- $125/square foot for a total of $135,000 to $187,500.
Midwest: $100- $149/square foot for a total of $150,000 to $233,500.
West: $100-$150+/square foot for a total of $150,000 to $225,000+.
However, it’s important to remember these are regional averages. There are some cities within these regions where the average price per square foot will be more than the regional averages we’ve mentioned here.
Cost Breakdown
A lot of steps are involved in building a house. Still, how much does each element cost?
To simplify this process, let’s use the estimation of the National Association of Homebuilders, who have calculated that the average cost to build a 1,500 square-foot house is $232,000 (see also “How Much Does It Cost To Build A House In California?“).
Site Work Or Land Development
Before you begin building, you need to prepare the land. This process includes getting permits, paying an impact fee, inspections of the water and sewer systems, engineering or architecture costs, and other miscellaneous costs.
This will be 6.2% of the total construction cost.
Architecture/engineering: $3,480, or 1.5%
Impact Fee: $3,016, or 1.3%
Permits: $3,944, or 1.7%
Water/sewer inspections: $3,480, or 1.5%
Miscellaneous fees: $464, or 0.2%
Total cost on average: $14,384
Foundation
Once you’ve prepared the site you can move on to actually constructing the house! And the foundation is the first step on the journey. It will take up 11.8% of the total construction cost.
The type of foundation you use will determine the cost. For example, a basement is more expensive than a slab. However, a slab will cost more than a crawlspace.
Prep work: $27,376, or 11.8%
Basement: $10- $25/square foot, or $15,000- $37,500.
Concrete slab: $4- $16/square foot, or $6,000- $24,000
Crawlspace: $5- $16/square foot, or $7,500- $24,000
Miscellaneous costs: $1,160, or 0.05%
Total cost on average: $28,536
Framing
Once you’ve laid the foundation and have the time to cure, you can now start framing the home.
This will be 17.4% of the total cost. As always, a few factors will be taken into account when calculating the cost, but on average, you can expect to pay the following costs, broken down in a variety of categories:
Framing/roof: $31,784, or 13.7%
Materials: (metal/steel): $696, or 0.3%
Trusses: $4,872, or 2.1%. Sometimes this cost will be included in the framing costs, but this will be something to discuss with your contractor.
Sheathing: $2,552, or 1.1%. This may also be included in the framing cost, but this will also need to be something to check with your contractor.
Miscellaneous costs: $464, or 0.2%
Total cost on average: $40,368
Exterior Work
This is one of the final steps of building your house, and includes insulating the home, installing doors and windows, and installing siding. This will make up 14.1% of the total cost.
Naturally, the materials you use will affect the cost. For example, if you choose to install energy efficient doors and windows, then this will be more expensive than installing standard doors and windows.
Exterior walls (insulation/siding/wrapping): $15,080, or 6.5%
Installation of doors and windows: $9,280, or 4%
Roofing: $7,888, or 3.4%
Miscellaneous costs: $464, or 0.2%
Total cost on average: $32,712
Final Thoughts
If you would like to build a house, this will likely cost an average of $100 and $200 per square foot.
It’s worth remembering that the cost of materials and labor varies depending on where you live, and this will have an effect on the average cost of building a 1,500 square-foot house (see also “How Much Does It Cost To Build A Shop House?“).
You should also keep in mind when drawing up your budget that the cost of materials can increase or decrease overtime.
Hey! My name is Luke. I am the Co-founder of PowellCustomHomes.com, it’s great to have you here at our site. With a combined 20 years of experience, we can help you build the home that you want, specific to your requirements and lifestyle.
No task is too small. We can guide you and offer advice, no matter if you are filling in gaps in the wall, hiding cords, or simply fixing up construction mistakes. We love to help, and strive to do so in any way that we can.
