Building your home

Building Your Dream Home in Orlando

Are you considering building your dream home in Orlando, the enchanting ‘City Beautiful’? It’s a thrilling prospect, but one that comes with a price tag and time commitment. Let’s delve into the costs, considerations, and financing options to help you make an informed decision.

The Cost Breakdown

The average cost to build a house in Orlando ranges from $200,000 to $440,000. This figure averages at $320,000, excluding expenses like land, permits, and excavations. Here’s a detailed breakdown:

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  • Per Square Footage Cost: It’s approximately $160 per square foot to build in Orlando.
  • Material Costs: Framing lumber is the highest material cost, amounting to about $33,000 for a 2,000 sq. ft. home.
  • Construction Time: Homeowners typically spend 9 to 12 months building their house, whether they manage it themselves or hire a contractor.

Is Building Cheaper than Buying?

In most cases, buying an existing home in Orlando tends to be more cost-effective. When building, you need to factor in land expenses, permit fees, and other incidentals. As of May 2023, the median sale price of a home in Orlando is $390,000.

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Building Your Dream Home: The Breakdown

Let’s take a closer look at the costs associated with building a 2,500 sq. ft. house in Orlando:

  • Material Costs: Around $100,000, accounting for approximately 50% of the total building price.
  • Contractor Charges: Expect to pay 10% to 20% of the total construction value for a contractor’s services.
  • Electrical Costs: Roughly $7,500 to $12,500, depending on factors like wiring type and size of the property.
  • Roof Installation: This can range from $3,100 to $35,500 based on roofing material and house size.
  • Plumbing Costs: Around $12,000, covering fixture installation and pipe work.
  • HVAC Installation: This typically costs between $1,500 and $12,500.

Additional Costs and Considerations

  • Land Cost: If you don’t already own land, budget around $37,000 per acre.
  • Permit Costs: Allocate around $5,000 for permits, which can vary based on construction type, area, and project scope.
  • Interior Furnishings: Plan for at least $20,000 for furnishing a 2,500 sq. ft. home.
  • Interior Designer Costs: If you choose to hire a designer, budget around $5,400.

Financing Your Dream Home

If you’re exploring financing options, consider the following:

  • Construction-to-Permanent Loan: This covers both land purchase and construction costs, converting to a conventional mortgage after completion.
  • Construction-only Loan: This specifically finances the building process and is due in full upon completion.
  • Personal Loan: For specific construction needs, a personal loan can be a helpful resource.
  • Home Equity Loan: This is an option for existing homeowners looking to finance their new construction.
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Final Thoughts

Building your dream home in Orlando is an exciting endeavor. If you have the ideal piece of land, a vision, and the time to invest, it can be a highly rewarding venture. However, it’s important to weigh the costs, time commitment, and benefits against the convenience of purchasing an existing home.

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