Building a home can be a costly endeavor. Before building, you need to make sure whatever you plan on doing is affordable. There are a number of different aspects to keep in mind when you are deciding on what type of home to build. How and where you are able to cut costs is important as you plan your budget and stay within its lines. Here are some of the cheapest styles and materials you can use to construct your home. However, it is important to check with your state to see if these types are legal for you to build in your area before you begin.
Ranch Homes
These are know as themost popular style of home in the U.S.They areoften built in a rectangular style, although they can be found in “T” and “L” layouts as well. These are simple, and concise layouts and are often seen as the cheapest type of home to build. Typically, ranch homes consist of one story, with an attached garage, and are highly customizable, so there are many different looks and styles for you to choose from. On average these homes cost $150 per square foot to build, or run around $159,900 when buying.
Shipping Container Home
As the name suggests, this is a home that uses an old shipping container as a base for the home. These are usually built off site, then delivered to the land in question. Some advantages of this type of home are that they are very modular, as more than one container can be used to add onto the home. These can range in price from $10,000 to $35,000 for a simple home, to up to $175,000 for a multi-container home.
Tiny House
These homes are usually built on less than 400 sq. ft. of land, and have become increasingly popular as of late. This is due to the affordability and sustainability of living in a tiny house. Usuallysquare or rectangular in nature, these homes have a simple design and are built in a small space to keep the cost of materials down. These can be built for around $23,000, or bought for around $45,500.
It can be helpful to consider the materials used as well as the style. Using cost cutting materials can help save you a good deal of money. Using materials such as prefabricated panels, concrete sheets, shipping containers can save not only money but time.
Here at ProVisor, we are pleased to help guide you in the process of building a new home with a home loan or mortgage. With offices in Madison, Brookfield, Watertown and East Troy, Wisconsin, servicing the greater Milwaukee, Waukesha, and Midwest areas, we are happy to offer our professional expertise for home loans, mortgages, or refinacing - from VA home loans for veterans to FHA home loans to WHEDA home loans to USDA homeloans and everything in between. Contact us today!
