Budgeting for a New Home: How Much to Build a House on My Land?
You have some land and you’re wondering: “how much does it cost to build a house on my land?” Great question! Here’s what you need to think about.
If you’ve ever dreamed of going on adventures in the wilderness or living a life outside of the hustle and bustle of suburban or city life, off-the-grid living may be something you’ve considered. If so, you’re in good company — more and more people in the United States have ditched the standard “American dream” to be self-sufficient, connect with nature, and reduce their carbon footprints.
Even if you don’t want to live off-grid and your goal is to build a house on a plot of land you’ve inherited, you probably wondered: “how much to build a house on my land?” It depends on what part of the country your land is in and the condition of the property.
First thing: Talk to an expert!
A top local real estate agent will have connections to builders in the area and can offer a wealth of advice on how to navigate the whole process. Get the ball rolling by connecting to a highly rated agent through HomeLight today. It’s free, and it only takes a few minutes.
Preparing your land
If you’ve inherited your little piece of America, you don’t have to worry about buying a vacant lot; although if you want to purchase land, the average cost for one acre of land could cost $4,170 as of 2024. The actual price will depend heavily on the region where you want to buy and the purpose of the land.
Land survey
Once you have the plot of land, you’re going to need to have it surveyed. A land survey will identify the boundaries of your property, and it’ll cost between $1,000 and $2,000. Of course, that price tag depends on the property size.
Clearing the land
After the land has been surveyed, it’s going to need to be cleared. Clearing the land means debris, rocks, and vegetation will be removed from the area. The property will then be leveled or regraded, so it will be ready for construction.
The cost to clear your land is going to vary based on the size of the lot, what kind of machinery is needed, how much work needs to be done, and labor costs. The price of clearing a single acre of land can range from $700 to $5,900. You might not need more than one acre cleared for the house itself, but don’t forget about access! You’ll need a road or driveway cleared, too, to get to and from your house.
Pouring the foundation
Although it may not feel like the ground is moving under our feet, the earth is always settling and shifting, which is why you need to pour a foundation when you want to build a house. It will protect the structure from damage or cracking due to the shifting ground.
Pouring a concrete foundation could cost between $4,500 and $18,500. Keep in mind that there are factors that go into the cost of a foundation. These factors are:
- Type: Slab foundations are the most cost-effective foundations and can cost up to $21,000, whereas basement foundations will cost upwards of $148,000!
- Soil test: A soil test will cost between $1,000 to $5,000. The test shows your contractor the soil composition, so they can choose the appropriate materials and techniques to use.
- Depth: If you live in a cold climate, have soil with poor drainage, or are building on a hillside, the foundation may need to be deeper to ensure adequate support for the home — increasing the labor and material costs.
- Building codes: Ask your contractor about local building codes because the rules may add expenses to your project.
