Construction loans are at 3.75% now.
You can easily build a house $200-$25- per square foot, but I have seen several homes costs $300-$450 per square foot because of the desired quality by the buyer, not the contractor.
You've received some good answers below.
I just wanted to let you know that I work with some excellent builders who are building custom homes in Willow Glen and they have streamlined the process to get their costs below $200/sf while maintaining excellent quality features and amenities. These guys are good.
If you are looking for some guys who know what they are doing and would like to speak with them about your project, let me know and I will arrange an introduction.
Best of luck to you!
Keller Williams Realty
Right the present cost for 5000 sq. ft. will likely run around $200-$250 for mid to high grade construction
and $150 for low to mid grade.
If you are looking for a builder let me know, at 408-656-5343.
The answer to your question really depends on WHY you are building a 5000sf house; meaning, are you building for investment or lifestyle? Knowing this could easily sway an average estimate as provide below by $150/sf. As you prepare your plans the architect you work with should be able to provide an estimate.
In 1993 I tore my own house down to the subfloor, ripped off the roof, gutted all the old electrical, HVAC, etc. and doubled its size. The single best thing I did before doing this was taking the "Homeowner's Essential Course - How to build, Remodel, and Maintain your home" taught by the Building Education Center. This course allowed me to act as the General Contractor during the whole process. I used the savings to install many upgraded systems/features. The current cost of the course is $545 per person. It was the best money I ever spent!
The second best thing I did was waiting until just before I had approved plans to pick ALL of the appliances, lights, knobs, etc. This in itself can be more exhausting than a marathon. Perform this work up front and you will reduce the chances of costly change orders and ending up in divorce court or the Betty Ford Clinic.
I always tell people who are considering a major remodel or building a new home that it is going to be expense but the divorce is going to be more expensive.
This is a difficult answer without more details.
Typically, the cost is figured as a per square foot cost, meaning it could be $200-$300 per square feet.
Much will depend on options and materials, and what floor plan you have.
You would find this a useful question for a builder, and I have several I can refer if you like.
Do you have your financing in order?
Sr. Mortgage Planner
Silicon Valley Capital Funding