How Much Does it Cost To Build a House on Your Land?

Posted on April 17, 2020

You’ve found the land, and want to buy it so you can build your perfect, custom home. How can you get a handle on accurate build-on-your-lot costs?

Homebuilding can be both exciting and challenging, but you need to create an accurate master budget that reflects what you can afford and plan to spend on this important project—even before you buy the land. Once you’ve got that figure, you should reach out to an expert to see if your concept of a home is possible. Daydreaming about your dream home is fun, but you need real-world experience and solid numbers to find out if your dream can come true.

Talk To A Home Builder First

Before you buy land, you should first consult with an experienced homebuilder to discuss what this investment will look like in real time and costs for your lot, region and desired property. It’s easy to imagine your dream home on an empty space, but there are so many considerations to build-on-your-lot homes, you need to work with someone experienced who understands the potential pitfalls. The right home builder will work with you to create a realistic plan and house choice that works for you, your land and your budget. 

If you’ve inherited land, contact a builder to help you understand the costs and time involved in preparing the lot for a home, like costs of running utilities, driveways (which can be much more expensive than most people imagine), and slopes and other ground issues. These must be factored into your budget or else it doesn’t accurately reflect the total cost to build.

Selecting a Builder

You’ll want to spend time talking to the builder about your dream home and your lot. Ensure you cover these areas: 

  • Ask about their specific experience in build-on-your-lot homes. 
  • Call references to get genuine feedback. 
  • Do they have leveraging strength that will enable the best price for materials? 
  • How flexible do they seem about deviating from existing floor plans to respond to your custom-home wishes? 
  • Are they up front about the real numbers involved with the home you envision?

Real discussions with a builder about your dreams, budget and lot may solidify your dreams and give you a realistic vision for moving forward. Or, going through the numbers may make you realize every single thing you imagined may not be possible. A good builder will walk you through all of your options while managing your expectations: 

  • Custom Build. When you custom build with Landmark, we can take one of our floor plans and modify it to fit your needs or if you want to start from scratch we can match you to the right architect for the job.
  • Home Developments. If you buy a lot in a housing development, we can work with you to make sure the requirements for that particular community are being met, saving you money and time along the way.

If you are still considering building on your own land know each choice provides positives and negatives. There’s more to consider outside of the home itself, such as allocating funds for dirt work, insurance, well and septic and more. Truly, the answer to how much it costs to build a home depends on how much you have to spend, where you live, your lot size and what size and type of home you want. 

Consult with a homebuilding professional to get started on understanding your true “build on your lot cost,” nail down your budget, and get that dream home built.

Similar Posts

Landmark Fine Homes in OKC - A Woman Calculating Home Costs

Three Differences Between Custom Homes & Spec Homes

Published on May 15, 2023
Buying a new home is your chance to find a property that perfectly fits your needs and preferences. Two popular new construction options include custom homes and spec homes. While they are both brand new, these types of homes differ significantly. Learn more about custom homes vs. spec homes to help you make an informed […]
Read More
Landmark Fine Homes in OKC - A Hand Holding Dream Home In a Field

Is it cheaper to build a home if you already own the land?

Published on May 15, 2023
Building your dream home is an exciting and fulfilling experience. For many people, a surprisingly difficult part of custom home building is finding the right place to build. So you might feel lucky if you already have a plot or acreage. While it may be cheaper to build a home if you already own the […]
Read More
Landmark Fine Homes in OKC - Construction Worker Inspecting Siding on a House

How to Know If a New Home is Quality Constructed

Published on May 15, 2023
Buying a new home is one of the most significant investments you’ll ever make. It’s crucial to ensure your new home is quality constructed to avoid costly repairs and safety hazards in the future. Follow these steps to determine if your new home is built to a high standard. Check the Foundation The foundation is […]
Read More

Ready to Take a Tour of One of Our Custom Built Homes?

Contact Form - RED
crossmenu