Is It Cheaper to Buy Land and Build a Home in Lake County?Owning a home is becoming increasingly expensive nationwide, which might make you question your decisions. It also raises questions about how to reduce the overall costs of owning a home. Therefore, if you are wondering if buying land and building a house in Lake County is cheaper, this article will try to answer this question. Read on to find out more.

Factors Affecting the Cost of Building a Home in Lake County

Before getting into the estimates of what it would cost you to build a new home in Lake County, it is essential to understand the factors that affect these costs. Some include: 

  • The location you want to build your home will significantly determine its cost. You have to look for land first, so you need to know that lakefront lots are more expensive than lots further from lakes. 
  • Another factor to consider is the construction service you will settle for. Of course, it is possible to find good companies that offer fair prices. However, it is safe to assume that better services will cost you a dime. 
  • The material you choose to build your home with can increase or decrease the cost. Stick-built homes are cheap and easily customizable compared to concrete and other materials. 
  • What amenities will you require in your home? Also, what is the size you wish your home to be?

Note that construction will also cost you a lot of time and peace of mind. Therefore, unless you plan to have someone supervise it for you, you might have a lot on your hands. 

Average Cost of Building a Home in Lake County

Here are some estimates of building a house in Lake County:

  • Buying land will vary depending on the area. You can get a lot for as little as $9,000 and as expensive as over $300,000. A good real estate agent can help you get a fair lot that suits your purposes.
  • The cost of construction per square foot can range from approximately $60 to $150. However, more luxurious designs can cost roughly $200 per square foot. 
  • The shell and interior materials can cost up to $200,000, including the exterior, roofing, cabinetry, insulation, plumbing, HVAC systems, etc. 
  • Labor will cost approximately 40% of the total building costs. You need a contractor, plumber, HVAC contractor, electrician, landscaper, etc.
  • You also need to consider how much you need for permits for different systems in your house. That will vary depending on your design. 

Putting these basic things together, the cost of building a home can range from a little over 200,000 to over 1,000,000. 

Is It Cheaper?

It all boils down to where exactly in Lake County and what kind of home you want to build. You will have to find a lot of money to sustain the construction for quality, space, customization, more amenities, etc. Still, you can settle for structures like stick-built homes to save the most while building. 

The bottom line is that buying a lot and building a house can be cheaper or more expensive, depending on multiple factors.

Consult a Credible Real Estate Agent

Having an excellent agent can make things easier. Bridlewood Real Estate is a dedicated agency that can help you get a clear quote on how much it costs to buy land and build a house in Lake County. Additionally, we can advise you on the most favorable path based on your needs. Therefore, contact us today at 352-404-6484 to get answers to all your questions.  

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