According to the Case-Shiller Index, Cleveland resale home prices are back to 2000 levels and prices lag the national average.

So it figures building costs will lag the nation too.

There is no such thing as building a house 'by the square foot'.

A house will cost what it will cost depending upon what has been installed in that house.

Identical footprint 1600 square foot houses built right next door to one another can cost $100 or $250 per square foot depending upon what one puts into them.

Only way to know what a house costs 'by the square foot' to cost is after it is built and one calculates what has been installed in them.

A stripped down house with formica counters, cheap carpet, peel 'n stick tile, clamshell moldings, and cheap cabinets and bath fixtures will be low cost.

Take the same house and put in granite counters, wainscot and crown moldings, custom built cabinets, Italian marble floors, and Brazilian hardwoods and the cost could double.

You have to compare apples to apples and comparing home prices 'by the square foot' does not compare apples to apples.

Buying a "used" house is cheaper than building new, especially a custom build. Lots of people are finding it difficult to get their new home appraised for what they spent, and that's one of the reasons that banks everywhere are much more cautious in even granting construction loans, much less owner/builder loans.

Well, we would want vinyl siding, laminate hardwood instead of hardwood/carpet because of dogs, either stock cabinets or slightly custom cabinets, plastic tub and a simple 200 dollar vanity (no jacuzzis or jet tubs), and we would want to do our own trim work so we could afford nice trim, we'd want to do our own painting, we'd just want regular appliances nothing fancy. We are fairly simple people and don't have extravagant tastes.

So I guess thinking about it I probably could build a house for somewhat cheaper than others on this board have. I never stopped to think about the differences in trim and other things in a house that make it more expensive or less expensive.

First of all, the cost to build absolutely varies from place to place.

Second, if you hang around on the "Building a New Home" board enough, and manage to catch pictures of people's floorplans and their houses every once in a while, you'll notice that many people on here are building VERY high end homes. I'm not saying there isn't a "range" of people / homes represented on this board -- I'm sure there are people in many different price ranges. I'm just saying that in the three or so months since I found this board, I've realized that a lot of the people on here have TONS of money.

krycek -- You should be able to gauge the cost of building your house by looking at spec homes in developments near you. You just have to know how much to knock off for the land value. The lots are usually small and cheap because developers generally buy up hundreds of acres at a time. However, developers save costs by building the same house over and over. If your plans are more elaborate, that will add to the cost.

In today's market it's generally much cheaper to buy a used existing home than to build a new homne. There are so many distressed homeowners and builders (and banks) out there who are dumping homes well their below cost. Consequently home appraisals are usually coming in much less than it will will cost you to build. Not good news, I know, but it's the sad fact of life these days.

I have to think that even if you don't have extravagant tastes, you will spend more money than a spec house. Just doing things the way they should be done costs more money even if it isn't Brazilian hardwood.

Spec houses often leave high $ amounts undone or underdone that you don't immediately notice. Things like small garages, small driveways, small decks, let alone minimal insulation, basic HVAC, limited lights. When you make the decision for the long term, you will spend more money.

We spent $150 sq foot - better granite (not level 1), walnut floors, brick (not the cheapest), high end HVAC, a new luxury car's worth of appliances, lots of extra grading work/landscaping, solar hot water, extra insulation, beautiful Ipe screened porch and deck, wainscoting, 3 piece crown, 10 inch baseboards, 3 car garage etc etc.

It doesn't sound like you are going to be anywhere near $150. Heck we spent $10k in permitting that I bet won't cost you half that. In most of the non coastal areas, $100 buys a pretty good build. In won't be totally high end but doesn't have to be the cheapest either.

Here is some quick math on savings
Vinyl vs Brick $7
Basic appliances $8
Laminate floor and counter $4
Basic HVAC (no solar) $3
No screened porch and basic deck $5
Minimal landscaping/no sig grading $6
Average permit cost $2
No trim $3
Basic stairs $2

I got you down to $110 without even trying

Good posts. Thanks for the responses everyone.

I know someone from my old work that built a custom house. I actually contacted her a week or so ago and she built for about 93 per sq ft and she had a decent build - nothing extravagant, but also, not a low-end spec or tract house, either. I'm going to ask her a few more specifics and see what she says.

Two years ago we built our 2600 sq ft house in Louisiana for $150,000. Don't fall off your chair when you do the math! Ha! It can be done!