Building a new home in Maine averages around $282,14. But with additional expenses like land costs, excavations, permits, and others, this figure can easily climb to $432,140.
Moreover, constructing a new home can take 9 to 12 months. In contrast, purchasing an existing home in Maine, with a median sale price of $384,700 as of August 2023. It can be completed in 1.5 to 2 months.
Consequently, buying a turnkey home not only proves to be cheaper but also significantly faster than building a new one. However, the decision between building and buying will depend on several factors.
These variables also include your spending limit and the amount of personalization you require. And whether you would like to move into an existing house or buy a new one.
Average House Building Costs in Maine Summary
| Category | Cost |
| Average Home Building Costs in Maine | $282,140 |
| Minimum (800 sq. ft.) | $112,800 |
| Maximum (5,000 sq. ft.) | $705,000 |
| Average Range | $287,500 – $427,500 |
Soft Costs to Build a House in Maine
Soft costs in home construction are expenses that contribute indirectly to the building process. These costs typically include land costs, permit fees, design costs, and interior furnishing expenses. Here is an overview of typical soft costs for building a house in Maine.
Land Costs
When building a house in Maine, one of the first expenses to consider is the cost of land. The average price per acre in Maine is approximately $48,400.
However, this cost can vary significantly based on the location, size of the lot, and other factors. It’s important to note that the cost of land is separate from the cost of preparing the land for construction.
Clearing and leveling the land can range from $1,500 to $3,000, depending on the complexity of the job.
Permit Costs
Building permits are legal documents required for new construction in Maine. These permits help ensure that the construction meets safety and building code standards.
Further, the cost of a building permit can range from $1,000 to $2,000, depending on the size and scope of the project. Additional permits, such as HVAC, plumbing, and electrical permits, can also add to the overall permit costs.
Home Interiors
Once the construction is complete, the next soft cost to consider is furnishing the house. This includes furniture, electronics, kitchenware, and bathroom essentials.
Moreover, the cost of furnishing a home can vary greatly depending on personal taste, item quality, and purchasing location. A budget of at least $20,000 is recommended for furnishing a 2,500 sq. ft. home.
Home Interior Designer
For those who prefer professional assistance with interior design, hiring an interior designer is an option. An interior designer can provide 3D views and renderings of the home. It helps to select furniture and decor and maximize space utilization.
Further, the cost of hiring an interior designer can vary based on the complexity of the project and the designer’s experience. A budget of around $5,400 is common, but this cost can be higher or lower depending on the requirements.
Cost Breakdown of Building a House in Maine
Let’s explore the hard costs associated with building in Maine.
Material Cost to Build a New Home
Building materials generally account for about half of the overall construction costs, totaling around $147,500. The material costs can vary based on factors such as the size of the house and the specific materials chosen.
| Component | Cost Range |
| Flooring | $7,500 – $35,000 (based on $3 – $14 per square foot) |
| Drywall | $2,500 – $10,000 (based on $1 – $4 per sheet) |
| Siding | $5,000 – $22,500 (based on $2 – $9 per square foot) |
| Lumber | $7,500 – $20,000 (based on $3 – $8 per board foot) |
Contractor Charges
A general contractor is like the boss of a construction project. They hire and manage different workers, like electricians and plumbers, to get the job done. The contractor’s fee generally ranges from 10% to 20% of the total construction cost.
Electrical Costs
The average electrical cost for new construction in Maine is $7,500 – $12,500.
This includes both rough-in and finishing work and can vary based on property size, wiring type, material, and labor rates As a result, it can reach up to $120 per hour.
Roof Installation Costs
Roof installation costs can vary based on the type of material selected, roof slope, and home size. Here are the average roofing prices per 100 square feet in Maine.
- Asphalt Shingle Roof: $1,864 – $3,029
- Tile Roof: $8,737 – $13,980
- Wood Shake Roof: $6,116 – $8,038
- Slate Roof: $8,679 – $11,359
Plumbing Costs
In Maine generally amounts to $12,000, which includes fixture installations like toilets, faucets, basins, bathtubs, and pipe installation. The average plumbing cost per square foot is $4.50, totaling $4,080 on average.
HVAC Installation Costs
The cost to install a new HVAC system can range from $1,500 to $12,500. Depending on factors such as the cooling area, type of system, and brand. Additional factors can increase HVAC installation costs by $2,000 or more.
Labor Costs
Usually, labor costs range from $100 to $150 per square foot. This covers overhead expenses, subcontractor fees, and construction worker wages.
However, The total cost may vary depending on factors like worker skill, location, union vs. non-union, season, project complexity, and material.
FAQ’s
Are homes expensive in Maine?
Yes, The average Maine home value is $377,025, up 8.3% over the past year, and goes to pending in around 25 days.
How much does it cost to build a house in Maine?
An estimate of $550 – $650 per square foot is typical in the midcoast Maine area, which includes everything except the land.
How much does it cost to build a 1500 sq ft house in Wisconsin?
The average cost to build a 1500 sq ft house in Wisconsin is $318,000.
What is the cheapest cost to build a house?
The cheapest homes to build cost $75 to $275 per square foot on average and include barn-style houses, modular homes, shipping container homes, and tiny houses.
Final Words
Building a new home in Maine can cost around $282,140, with additional expenses potentially bringing the total to $432,140. However, this process can take between 9 to 12 months.
Alternatively, buying an existing home in Maine, with a median sale price of $384,700 as of August 2023, can be completed in 1.5 to 2 months.
Ultimately, the decision between building and buying a home will depend on several factors. The cost can vary due to factors like the level of customization, the preference for a new or existing home, and budget.