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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 average cost to hire an architect for your home project ranges between $2,200 and $10,500. However, depending on location and project type, you might end up paying as little as $600 or as much as $45,000 or more. For example, the average cost of hiring an architect in North Carolina is between $1,800 and $2,000, but in California, that price tag jumps to $3,600 to $15,200. 

The price you pay for your architect also depends on their experience level. For example, a principal architect, the firm's owner, typically charges $150 to $250 per hour. However, an intern architect with three to five years of experience usually only charges $45 per hour. 

Knowing if you need an architect for your project can be tricky, especially if you've never worked with one before. In general, small remodeling projects like replacing fixtures typically don't require the expertise of an architect. However, larger projects, like moving walls or adding an addition to your home, should include an architect to ensure the project is structurally sound.