Construction Costs per Square Foot in New Mexico, USA
The cost to build a house is $110 to $240 per sq. ft. depending on what grade you choose. This does not include the cost of land and site work. Get a better idea of the cost of your home-building project.
Best Single Family Homes of Standard Standard
New Mexico’s building costs per square foot range from $124.66 to $189.35, with an average of $145.95 for private homes.
Luxurious Single Family Homes
New Mexico’s building costs per square foot range from $317.30 to $486.40, with an average of $374.46 for private luxury homes.
Median House Price – Average House Price
In 2022, the median New Mexico home price was $156,000. Remember that a median home is a house that has 3 bedrooms, 2 bathrooms and a living area. It also includes a garage and a small garden. This is an average price. It can vary depending on where you live and the type of property you are interested in.
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Cost Of Home Building Is Determined By The Quality Of Construction Chosen:
- Cost of the home building (standard grade construction), $110 to $150 per sq. foot
- Cost of the home building (premium-grade construction): $150 to 200 per square foot.
- Cost of the home building (luxury-grade construction): $200 to $240/square foot
- For a more precise cost estimate for your home-building project,
Cost of building a house in Albuquerque New Mexico
Costs to build a house or apartment in Albuquerque (New Mexico) range from $110 to $240 per sq foot, depending on which grade of construction is chosen
Commercial Construction Fees Per Square Foot
Commercial buildings are influenced by their location. For small installations, the median construction cost is $350 per sq. In New York, prices can go up to $450 per sq foot
Factors That Impact Commercial Construction Costs
Localization
Certain areas are more costly to build in than others. It will cost more to build in highly desired areas in densely populated cities than in less-populated areas.
Recent listings on Redfin indicate that Santa Fe’s median land price is $270,000, or $5 per square feet. A 34,848-square foot plot of land is available for $45,000 — or $1.30 per sq. foot. It can be found along Calle Abeja, Highway 285.
Permits And Other Fees
The local authorities must issue a permit before any construction can begin. The plans will be reviewed by the board members who will decide if the project can be realized. Perms will be issued to project owners if the request is approved.
Materials
A building’s cost will depend on the materials chosen by its designer. It will be more expensive to build a steel-structured structure. You may also need to consider custom-made windows and doors, which can quickly increase the cost per square foot.
Architecture and Design Fees
Santa Fe architects typically charge 7 to 12 percent of the total construction costs in percentage terms. This rate can change depending on the complexity of the project, the amount of detail required, the size of the home, and other factors such as the workload. For a Santa Fe home measuring 2,500 square feet, the basic construction cost would be $750,000. The total architecture fee for a single-family home will be between $52,500 and $90,000. Additional services are typically charged per hour.
New Mexico House Construction Costs
A typical house costs $300 per square foot to build. A home measuring 2,500 square feet could be built for as little as $200 or as much as $400. This is between $500,000 and $1,000,000.