building a home from scratch

I know there are so many variations you can do building a home but realistically about how much would it cost to build a 3 bedroom 2 bathroom home .

Re: building a home from scratch

Where? That is a huge factor.

Are you talking about buying a plot of land and then paying a builder to custom build a home? That's going t be harder to estimate than if you buy a home that is being built on a plot of land already purchased by a builder who has plans in place, but will allow you to customize.

But on LI, most new construction homes have a minimum of 4 beds, 2.5 baths.

Also, taxes on new construction are high and you won't know the exact amount until after you close. If you demo an existing home and keep the old foundation, it's not taxed as new construction.

Re: building a home from scratch

Re: building a home from scratch

Aside from not knowing what the taxes will be something else to consider that some private builders have a minimum square footage that they will build. Land is not always included in that price. If land is not included, you need to go ahead and purchase that too. We looked into it, but not in NY, and it was around $155-$175 sq/ft.

When we purchased our current home, it was new construction and we signed contracts in the middle of construction from the builder. We were paying taxes on just the land for the first 6 months and it was $3K.....3 years later we pay close to $14K. We did finish our basement and add an IGP, but that only added $1500 to it. It isn't unusual for our area though.