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Typically, it’s more affordable to buy an existing home than it is to build a new one. New construction loan interest rates tend to be higher than interest rates for traditional mortgages. Additionally, the cost of materials is likely higher when building a new home than it was when an existing home was built (unless it’s a very new one). You’re also paying for all new appliances, finishes, permits, inspections, and connections for water, gas, and electricity. 

The average price per square foot to build a house is about $150 per square foot. Overall, the cost to build a house ranges anywhere from $100 to $500 per square foot, depending on where you build. The primary cost factors include location, size, and style of house you build.

The cost to build a detached garage for two cars costs about $26,400 on average. Prices range from $19,200 to $33,600, depending on your location, the garage size, height, materials, and site prep required. Additional cost factors include any plumbing, electrical wiring, and insulation. If you need to build a concrete foundation for a new detached garage, you can expect to pay $1,000 to $8,600 for this essential addition.

The average cost to remodel a garage is around $18,000, ranging from $1,500 to $50,000, depending on size, materials, location, and other factors like plumbing and electrical. Garage remodels that include changing the roof and walls add significant expenses to the project. Plus, you can expect to pay about $1,400 for the building conversion permits. For a simple remodel, like painting interior walls and recoating the garage floor, it will cost about $2 to $5 per square foot.