The average cost to buy a home in the United States in 2020 is $237,760. The cost of building a house is based on square footage, with a typical cost of $85.65 per square foot, according to Ownerly.com. However, in Arizona, the average cost is $150 per square foot. If you are searching for “is it cheaper to build or buy a house,” then this post is for you!
How Much Does It Cost To Build A House?
According to HomeAdvisor, the average total cost to build your own home in Arizona is just north of $290,00. So, a range of pricing for constructing a home of 2,000 square feet would be anywhere between $152,000 and $435,000, depending on location and materials used for the build.
Once you know the exact square footage of the home you are about to build, you can begin estimating the overall cost of the property. When working with a budget, one must keep in mind that other costs need to be accounted for. All home builders need to be aware of all extra costs, such as hooking up utilities, power, water, foundation, framing, exterior and interior finishes, plus all electrical, HVAC and plumbing set ups. These costs will add up quickly, so make sure they are part of your original budget.
Building A House In Arizona
Here is a breakdown of average costs to build a home in Arizona by square footage:
- 2,400 sq ft home: $360,000
- 2,300 sq ft home: $345,000
- 2,200 sq ft home: $330,000
- 2,100 sq ft home: $315,000
- 2,000 sq ft home: $300,000
- 1,900 sq ft home: $285,000
- 1,800 sq ft home: $270,000
- 1,700 sq ft home: $255,000
- 1,400 sq ft home: $210,000
- 1,600 sq ft home: $240,000
- 1,500 sq ft home: $225,000
How Much Does It Cost To Buy A House?
The average cost to buy a home in Arizona is also slightly above the national average of $237,760, just like the typical costs of building a home. Ironically, the typical cost of buying a home in Arizona hovers around the same price of building one, with a price tag of $290,000. Costs per square foot will be just lower of the price of building per square foot. Buyers can expect to pay $148 per square foot for a property in Arizona.
As is always the case, more fees will be piled on top of the simple purchase of the home. Buyers must put a budget together for closing costs, realtor commission, property taxes, any HOA fees and homeowners insurance. Have a flexible budget, if possible, as these fees will differ based on location, property size and other factors.
Is It Cheaper To Buy Or Build A House?
When all costs are added up, buying a house is cheaper in Arizona than building one.
See this pricing breakdown for more information on buying versus building a home.
Build a Custom Home In Arizona
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- How Much Does It Cost To Build A House?