The cost of building a new home will greatly depend on the size of the building. On average people are starting to calculate the cost by other recently built homes in their area. Take a building just built that is on average the same square footage that you will build. Subtract out the cost of land and divide that number by the square feet to get cost per square foot. The idea is to use that number plus $10,000 to budget your build on. If you are lucky that $10,000 will not be needed.