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How Much Does It Cost to Build a Home? Estimating a 3 Bed, 2.5 Bath Open Floor Plan Home

We had a potential client reach out wanting to know more about building a custom home. The process, where to start, and an estimate of the costs. To get an idea of price per square foot to build, I sent over our most recent article and then asked if there is a floor plan that best resembles what they are looking for.


This is the one they sent over:

  • 3 bed/ 2.5 bath

  • 2 car garage

  • 1 story

  • 1,924 sqft

3 bed 2 bath modern farmhouse
Front Exterior


3 bed 2 bath modern farmhouse house plan
Floor Plan

As Josh and I were putting together the estimate, I thought "Why don't we share this to the blog so everyone can see how much something like this might cost?". I took the idea to our socials and it seems everyone was on board with the idea, so here is our post estimating how much this house may cost to build. But remember, this is just an estimate. There are many factors/decisions that could change these prices. We just wanted to provide a rough estimate to give you an idea of what it might cost. So, here we go.


We broke this up into 2 scenarios:


Both of these options are assuming we are going with a mix of builder grade and mid-grade quality finishes. Not your cheapest of the cheap, but not specialty finishes. We are also including 8' foot ceilings instead of 10' to keep costs low. If you'd like to know about how much more 9' and 10' ceilings costs, you can read our article here.




 

The Lowest Overall Cost


The Structure: To get the lowest cost overall, we are estimating a slab foundation. These are by far the most affordable foundations. We also included engineered framing, double hung white vinyl windows, mid-grade fiberglass exterior doors, standard insulation, guttering, insulated garage doors, mid-grade siding, and a shingle roof.


The Inside:

  • Kitchen: We estimated for semi-custom kitchen cabinetry, lowest priced quartz countertops, delta kitchen faucet, and stainless steel sink. *We did not include appliances.

  • Flooring & Trim: Included is mid-grade vinyl flooring throughout, builder grade trim, and hollow core interior doors.

  • Guest/Kids Bath: Kohler tub with kit surround walls, Delta plumbing fixtures, semi-custom vanities, onyx vanity tops, mirrors, and vanity lighting, and a mid-grade toilet

  • Master Bath: Freestanding Kohler tub, Delta plumbing fixtures, tiled shower, glass shower door, Delta shower faucet with body shower, semi-custom vanities, onyx vanity tops, mirrors, vanity lighting, and a mid-grade toilet

  • Powder Bath: Budget friendly vanity, Delta faucet, mirror, vanity lighting, and a mid-grade toilet


Estimated Cost: $375,884

Price/Sqft: $195.37/sqft

Finished Sqft: 1,924


cost estimate pie chart for modern farmhouse on slab
Pie Chart for above House Plan on Slab Foundation

Items not included:

  • Cost of floor plans

  • Lot to build on

  • 9' ceilings

  • Fireplace (builder grade fireplaces can run about $3-$5k, while mid-grade are $5-$8k)

  • Accessory cabinetry (bookcases flanking fireplace, mudroom bench - possibly another $4-$6k depending on style)

  • Service entrances/placing utilities (not all lots have utilities included and not all service entrances are the same in order to estimate price)

  • Landscaping





 

The Best Value


The Structure: This estimate includes a basement foundation. We are calling it the best value because we are going to quote this one based on a finished basement, so ultimately more finished square footage. Like before we also included engineered framing, double hung white vinyl windows, mid-grade fiberglass exterior doors, standard insulation, guttering, insulated garage doors, mid-grade siding, and a shingle roof.


The Inside:

  • Kitchen: We estimated for semi-custom kitchen cabinetry, lowest priced quartz countertops, delta kitchen faucet, and stainless steel sink. *We did not include appliances.

  • Flooring & Trim: Included is mid-grade vinyl flooring throughout, builder grade trim, and hollow core interior doors.

  • Guest/Kids Bath: Kohler tub with kit surround walls, Delta plumbing fixtures, semi-custom vanities, onyx vanity tops, mirrors, vanity lighting, and a mid-grade toilet

  • Master Bath: Freestanding Kohler tub, Delta plumbing fixtures, tiled shower, glass shower door, Delta shower faucet with body shower, semi-custom vanities, onyx vanity tops, mirrors, vanity lighting, and a mid-grade toilet

  • Powder Bath: Budget friendly vanity, Delta faucet, mirror, vanity lighting, and a mid-grade toilet

  • Basement Bath: Kohler tub with kit surround walls, Delta plumbing fixtures, semi-custom vanity, onyx vanity top, mirror, vanity lighting, and a mid-grade toilet


Estimated Cost: $498,960

Price/Sqft: $134.93/sqft

Finished Sqft: ~3,698 (4 bed, 3.5 bath home)


pie chart for modern farmhouse on basement
Pie chart for above House Plan with Basement Foundation

Items not included:

  • Cost of floor plans

  • Lot to build on

  • 9' ceilings

  • Fireplace (builder grade fireplaces can run about $3-$5k, while mid-grade are $5-$8k)

  • Accessory cabinetry (bookcases flanking fireplace, mudroom bench - possibly another $4-$6k depending on style)

  • Service entrances/placing utilities (not all lots have utilities included and not all service entrances are the same in order to estimate price)

  • Landscaping






 


What house plan do you want to see next?


If you have a house plan that you have been eyeing, link it in the comments below. We'd love to continue sharing our cost estimates so they can give you a better idea on the types of homes that fit your budget.


If you're ready to start the building process, but aren't sure how to get a house plan you can read this article here.




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