According to the National Association of Home Builders, the sale of newly built homes is on the rise as of May 2023. As more homes became available, it became more common to purchase an existing property. “There’s historically been a high preference for new homes, and that was the default choice, because existing inventory just wasn’t there,” says Alec Hartman, founder and CEO of homebuilding company Welcome Homes. If you’ve searched the market and determined there’s no existing home that meets your needs, you may start to wonder: How much does it cost to build a house? It’s a reasonable question considering price is among the most important factors in any real estate investment decision.
