Are you having trouble finding your dream single-family home in the current Idaho housing market? If so, you should consider performing a new home construction and building your dream house instead. Yet, before you do so, you should find out the average cost to build a house in Idaho.
Building a house in Idaho ranges from $123.31 per square foot to $187.29 per square foot when seeking to construct the best standard single-family home. On average, it costs $144.36 per square foot. Therefore, building a 1,500-square foot single-family home in Idaho should cost you about $216,540 on average.
However, you will also need to consider the costs of land in Idaho, the cost of building permits, and other construction cost issues to get your dream home. To learn about permit costs, project costs, and the general price range of your house plans, keep reading the tutorial below. Are you ready? Let’s get started!
Land Costs in Idaho
The land costs in Idaho are very cheap considering a large amount of space you can get for a very reasonable price. For example, in Salmon, Idaho, you can purchase 0.71 acres or 0.78 acres for only $39,980.
If you have the money, you can also purchase as much as 20 acres of land for $725,000 in Shoshone, ID. Furthermore, you could get nearly 65 acres of land in White Bird, Idaho, for only $162,000. Right now, there are about $4 billion of land listings available throughout Idaho.
You can find thousands of properties to purchase and plenty of rural lands to buy in Idaho. The listings include as much as 168,673 acres of land throughout the state. Are you interested in becoming a farmer in the Potato state? If you have enough money, you could buy some land to build a custom home and a farm as well.
In Idaho, the three most popular agricultural exports include cattle, dairy products, and potatoes. It is also known for commercially-farmed trout. The state fish is known as the Cutthroat Trout. There are plenty of options for people looking to get into farming.
A great spot of land to purchase in Idaho includes 5 acres in Priest River for $295,000. Also, you can purchase as many as 5 acres in Hayden, Idaho, for $475,000. Along with Idaho’s land costs, don’t forget home building costs as well as the price of building permits when constructing your dream home.
Permit Costs To Build House in Idaho
The cost of building a home includes permit costs. You will find that administrative work, design, and permit costs in Idaho take up as much as 10 to 15 percent of the total cost of building a home. For example, in Boise, Idaho, the average homeowner pays $2,163.75 to cover the permits’ fees.
The permit fees are based on the total cost of construction, building materials, and labor costs. For instance, the permit cost for the first $100,000 of a project is calculated to reach $913.09 for Boise. Then, an additional $1,000 involves a $5.17 increase in permit costs.
Afterward, you will also need permits to upgrade and meet the electrical code requirements. These fees vary from $40 to $165 for each permit. Your electrician should handle all permits, but you must cover the costs.
You will also find that you must meet mechanical and fuel gas codes, which all come with fees. The mechanical and fuel gas permit fees range from $55 to $325.
Plumbing code fees can range from $130 to $325 per permit. All of these permits will depend on your floor plans and the type of interior finishes you want to implement. The more high-end construction projects you pursue, the higher your cost estimates will reach for building permits.
Building Costs To Build a House in Idaho
The cheapest type of home to build in Idaho is the craftsman-style bungalow. Based on square footage, you will spend anywhere from $115 to $143.75 per sqft. However, if your home plans are more extravagant, you may want to build a high-end, impressive colonial-style home in some of the more lavish Idaho neighborhoods.
If so, you can build luxury real estate properties for $316.25 to $460 per square foot. You will also need to consider the costs of countertops, the cost to install a septic tank, the fees for landscaping work, and more.
The cost to build a mid-range home in Idaho tends to cost between $143.75 and $316.25 per square foot. In total, it costs an average of $452,400 to build a house in Idaho based on 2022 data. In the last five years, the median home price in the housing market in Idaho has increased by 45 percent.
One of the issues that may have boosted the price increase has to do with inventory. The housing inventory has dropped by 71 percent in recent years. With less inventory, demand has grown, and prices have gone up. As such, you may find that there are no homes you’re interested in. Therefore, building a dream home might be your best bet.
Building condominium homes can cost as much as $450 per square foot, while townhomes are more affordable to construct. The cost of building townhomes ranges from $174 to $324 per square foot. The material costs take up a large part of the construction project, so you may reduce your overall costs by seeking cheaper construction materials.
Average Cost To Build a House in Idaho
When considering the average cost to build a house in Idaho, you will need to understand that material costs usually take up 30 to 50 percent of the entire budget. In addition, labor costs account for 30 to 60 percent of the project price.
Then, permits, designs, and administrative work will cover 10 to 15 percent of the construction costs. You will need to hire a contractor and find out the price estimates for building your dream home from the contractor. See if you can get cheaper materials.
In Boise, Idaho, you can expect to spend an average of $257,762.25 on building a home. These costs are from 2020 to 2021, so the average cost may have gone up since then. However, the costs all depend on extra amenities as well.
For instance, installing an air conditioning unit throughout the entire home costs an average of $7,200. Also, the average cost of painting your home is $2,901. Furthermore, homeowners in Boise pay an average of $2,163.75 to cover their building permit costs.
You should consider the costs of buying land in Idaho. The costs vary depending on the neighborhoods you’re interested in. If you’re ready to build a dream house, you will need to sell the home you are currently living in.
Before you construct that perfect home, you will need to find cash home buyers in Boise for your current place of residence. To quickly move forward with your construction project, you will need to sell a house fast in Idaho. Cash home buyers and real estate investors can help since they don’t need to wait for a mortgage loan approval.
Luckily, we buy houses in Nampa, so contact us today for a fair offer on your home.