How much does it cost to buy a house?

Home buyers should expect to spend between $23,454 and $98,659 to buy an average house in the U.S. The range varies drastically depending on the size of your down payment and your purchase price. Use a home buyer calculator to get more precise estimates for your own home purchase.

Is it cheaper to buy a house or build one?

Generally speaking, it is cheaper to buy a house than to build one — at least as far as the sale price is concerned. Construction loans for newly built homes usually require down payments in the 20-30% range, so it may be closer to the cost of buying if you intend to put more toward a larger down payment.

What is the monthly cost of owning a home?

The average cost to own a home is between $1,427 and $2,700 per month, though this varies widely depending on the size and location of your house. Since your mortgage is likely to be your largest monthly expense, it is also very important what your loan balance and interest rate are.

Luke Williams

Contributing Writer

Luke has been covering both residential and commercial real estate in a professional capacity for 10+ years, highlighting market movements, important deals, lending trends, and more.

His passion for providing data-based guidance to homebuyers and commercial real estate investors drives his writing. It's easy to get caught up in the noise of news headlines, but he believes that accurate, unbiased information is key to making the most informed real estate decisions possible.

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