How Much Does it Cost to Build a 2 Story House?

Cost to build a 2-story house

The cost of building a 2-story home will vary hugely depending on many factors, but for our calculations here we will base it on the average size for a new single-family home constructed in 2021. According to the National Association of House Builders (NAHB) analysis, a new house is now on average 2,540 square feet, so we will base our calculations on a 2,500 square feet house.

Factors impacting the average cost to build

There are many factors that go into calculating the exact construction costs.

• Location - the cost of land, labor, and materials will vary by region, and the weather in different areas will slow or speed up the building process.
• House size- in general, the larger the house the more expensive it will be to build.
• Standard of finish - using luxury materials will end up costing a lot more than standard builder-grade materials.
• Custom or standard - if you choose to design a custom home it is likely to end up costing more than a builder's standard house plans.
• Additional features - if you choose to add on a deck or basement, or put a swimming pool in the yard your total home costs are going to be higher.

Cost to build breakdown

In 2021 the national average final costs of building a house are almost $300,000 and we give you a thorough home building cost breakdown including labor costs and building materials, based on a house with a total square footage of around 2,500.

Permits and regulations: $93,000

This figure may seem very high, as building permits generally cost only a couple of thousand dollars, but according to a 2021 report by the NAHB regulatory costs now account for almost 23% of the total cost of building a new house.

These costs will include:

• Surveys
• Building code related costs
• Zoning approval applications
• Regulatory requirements
• Delays caused by regulations
• Land purchase fees

Foundation: $8,000

This is the cost for a simple slab foundation with retaining walls, not a more expensive basement foundation.

Framing: $30,000

The cost of framing has increased in 2021 as lumber costs have risen, and most standard houses are built with wooden framing.

Roofing: $8,000

This cost covers a traditional asphalt roof but could be higher if you choose different roofing materials.

Major systems: $44,000

For example, if you have designed your floor plans so your upstairs bathrooms are above the kitchen and downstairs bathroom, then you will require less piping.

Here are some rough guides for these costs:

• A full HVAC system will cost about $1,600 - $11,000
• The square foot cost of wiring is around $2 - $4
• Plumbing generally costs around $8,000 - $12,000

Fixtures, fittings, and finishes: $108,000

When calculating the costs of your interior and exterior finishes, fixtures, and fittings there is a lot of room to save or splurge. Granite countertops and hardwood floors will cost a lot more than tiles or Formica.

Interior finishes and decor can be very expensive or cheap. For example, the labor costs to build custom kitchen units will be much higher than the installation costs of ready-made units from Ikea or Home Depot.

Appliances: $9,000

You might be able to save a little money with fitted appliances if you can move your washer and dryer from your existing home to your new home. However, if you want to leave them in your existing home for the new buyer, you'll need to factor in the cost of purchasing new appliances into your budget.

Additional costs

If you decide to add any extras to your new house, like a deck, a swimming pool, or solar panels, they will all come at an additional cost.

• Solar panels cost around $20,000 including installation.
• Installing a new swimming pool costs on average $35,000.
• A standard 10-foot x 10-foot deck will set you back about $2,200.

Frequently Asked Questions

Is it cheaper to build 2-story home?

In general, when you look at the home building cost per square foot, it works out a little cheaper to build a 2-story home. This is primarily because you need a smaller foundation and roof for the same square footage of living space.

With a two-story home, you can also save money by buying a smaller piece of land to build on, or at least enjoying a larger garden, than you would have, with the same square footage of a one-story house.

Can you build a house for 100k?

While the national average cost of building a new house is almost $300,000 that doesn't mean that you can't save money and build your own home, no matter how much money you have. While building a house for $100,000 in certain parts of the country could be nearly impossible, unless you already own land, it's very achievable in most areas.

For that budget you can consider:

• Prefab modular homes cost on average $50 - $100 per square foot, meaning you could afford a simple 2,000 square foot modular home or a higher-end 1,000 square foot home.
• Tiny house prices are generally under $100,000 unless you are building a very unique, luxury home. Most tiny houses are 600 square feet or smaller.
• Small traditional homes generally cost from $100 - $200 per square foot which means you could afford a simple 1,000 square foot house.
• Shipping container home - shipping containers are the latest trend in construction materials and people are using them to create affordable and stylish homes, with simple floor plans. Each container costs from $8,000 - $15,000 and they can be attached to create larger houses.

Is it cheaper to build a ranch or 2-story home?

For most homeowners budget is a key factor in building their new house and knowing the average cost to build a 2-story house is very important to them, as is whether it would be cheaper for them to build a simple two-story house or one-story ranch home.

This is because you need a much larger foundation and roof for a one-story home of equivalent square footage. However, if you choose different building materials or a different style of home the extra costs may reverse the calculation.

Building your dream home in Chicago

Now you've decided it's time to move out of your existing house and start the process to build your own house, talk to the expert home builder, Fortress Home in Chicago about your plans. We are specialists in residential construction and will help you with the home building process, every step of the way. Our team of in-house experts and professionals will ensure that your new house is completed perfectly, on time, and within budget. Talk to us today, sharing exactly what you're looking for, and find out more about how we build a house: +773-770-8607 or [email protected]