2 min read Nov 17, 2022

How Much Does it Cost to Build a House in New Mexico?

How Much Does it Cost to Build a House in New Mexico

If you are tired of looking for homes online and attending open houses in person you might feel like giving up on home buying altogether. In such a circumstance home sellers often turn towards buying land and building their own house instead. But the question is how much does it cost to build a house in New Mexico and can you afford it?

How Much Does it Cost to Build a House in New Mexico?

It costs about $290,000 on average to build a house, as of August 2022. This is much more than the median home value of $268,737 in the same month. So, is building a house more expensive than buying one?

Well, it depends. When building a house of your own you have to account for land costs, labor costs, material costs, and more which vary across regions. So even if $250,000 is the average, homeowners usually spend about $110,640 – $448,411 to build a house from scratch.

So, in some cases building a house costs more than the median home value, and thus it will be more expensive than buying a new one.

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How Much Does It Cost to Build a House New Mexico

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