Comparing new homes by their cost per square foot - Part 4/10

Land Costs

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Were land costs incorporated into the cost per square foot quote? If so, building a 2,000 square foot home on a $25,000 lot equates to $12.50 per square foot on the quote. Building that same home on a $60,000 lot equates to $30 per square foot - $17.50 higher than the first lot. The neighborhood or subdivision on which the lot sits can also impact square footage due to covenants requiring more expensive options like brick, stone and stucco on the front of the house versus vinyl siding. Neighborhood amenities such as pools, walking trails, parks and clubhouses are passed along to the buyer in the form of higher prices for the lots.

“Her Home™ Magazine - Building & Remodeling Insights.” Design Basics, 25 Mar. 2021, http://www.herhome.com/.