NAHB recently published the latest construction cost survey. The survey shows that the average home was built on 14,359 square feet of land, had 2,607 square feet of finished area, and sold for $399,532.
Table 1. Single Family Price and Cost Breakdown - 2013 Results
The average share of the home’s sales price which goes to the construction costs jumped from 59 percent in both 2009 and 2011 to 62 percent in 2013. Finished lot costs, accounting for the second largest share of the sales price, dropped from 22 percent in 2011 to 19 percent in 2013. Builder profits are up from an all-time low of 6.8 percent in 2011 to 9.3 percent in 2013. The remaining ten percent of the sales price goes to overhead and general expenses (4 percent); sales commission (4 percent); financing costs (1 percent); and marketing costs (1 percent).
Please make special note that ‘Building Permit Fees’ only represent 1.5% of the total cost to build a home, on average, in the USA.
Van Hibberts, CMI
Certified Residential Building Code Inspector ICC-5319905
Florida-State Certified Master Home Inspector Lic. #HI 89
Certified Owens-Corning Roof Data Technician
Florida-Certified Wind Mitigation Inspector
WDO Certificate #JE190791
362 Gulf Breeze Parkway, #214
Gulf Breeze, Florida 32561
850.485.3209 (Cell / Text Msg)
"Looking Beyond The Obvious"
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