The Cost of Building a Home in Minnesota
Many of our buyers are looking at different ways to get into homes in the tight Minnesota and Western Wisconsin housing market. One of the options many are considering is building. This should give you an overview of the costs associated with building.
The cost of building a home in Minnesota can vary depending on your location and the type of home you want to build. However, there are some general costs that are associated with home construction in Minnesota. For example, the average cost of building a new home in Minnesota is around $375,000 - $500,000 (build cost). This price can increase or decrease depending on the size and location of the home. Additionally, the cost of land in Minnesota can range from $2,500 to $100,000 per acre. This means that if you are looking to build a home on a one-acre lot, you can expect to pay on average around $48,000 for the land. So generally speaking, this puts the price of new home all in between $423,000 - $548,000. This would be for a modest new home on a nice lot.
Another cost associated with building a home in Minnesota is the cost of materials. The type of materials you use for your home will affect the overall cost of construction. For example, using higher-end materials like granite countertops or hardwood floors can increase the cost of your home by thousands of dollars. On the other hand, using more affordable materials like laminate countertops or carpet can help keep the cost of your home down.
In addition to the cost of materials, you will also need to factor in the cost of labor, permits, earthwork, and more.
The cost of building a home in Minnesota varies depending on a number of factors, but the average cost is between $375,000 and $500,000. The price per square foot ranges from $125 to $300. The cost of land and the cost of labor are the two biggest factors that will affect the final price tag. If you're looking to build a high-end home, you can expect to spend closer to $1 million. Keep in mind that these are just general averages and your actual cost will depend on your specific circumstances.
Give us a call today if you'd like to learn a little more about the new build process.