If you’re considering building a custom home in Richmond or Chesterfield County, you’re probably asking the most important question: How much will this cost? At McMahon Custom Homes, we hear this every day — and we’re here to give you real answers you can plan around.
In this article, we’ll discuss the cost of building a custom home in Virginia, key factors that affect pricing, and how to avoid costly surprises.
Average Cost to Build a Home in Richmond, VA
Building a custom home in Richmond typically costs between $175 and $300 per square foot, depending on your choices, finishes, and site conditions.
For a 2,500 square-foot home, you could spend anywhere from $437,500 to $750,000 — not including land.
But these numbers are just a starting point. Let’s dig deeper.
If you own land, great — you’re ahead of the game. But if you’re still looking, know that lot costs in Chesterfield, Midlothian, and the greater Richmond area can vary from $60,000 to over $250,000.
Also consider:
The more square footage, the higher the cost—but it’s not always linear. Open-concept designs, cathedral ceilings, and complex rooflines can increase material and labor costs.
This is where homeowners have the most control over their budget. Options like:
…all impact the final price.
At McMahon Custom Homes, we build for long-term performance. High-efficiency HVAC systems, spray foam insulation, and smart home upgrades might cost more upfront, but they save you money for years.
A seasoned, transparent builder will guide you through costs before you’re locked in. We help clients understand where to invest and where to save so the home fits both their vision and their budget.
Our process is built around clarity and collaboration.
✅ Transparent estimates before you sign
✅ Allowance-based pricing to give you flexibility
✅ Regular cost reviews throughout the build
✅ Builder-grade options with upgrade potential — not a one-size-fits-all approach
Is Building More Expensive Than Buying?
Yes — custom building costs more upfront than buying an existing home. But the tradeoff is huge:
And in a hot market like Richmond, building new is often the smartest long-term investment.
There’s no “one-size-fits-all” price for building a home in Virginia. But with the right team, a clear process, and a realistic budget, building a custom home can be one of the most rewarding decisions you’ll ever make.
Thinking About Building in Richmond or Chesterfield?
Let’s talk. At McMahon Custom Homes, we help families turn ideas into dream homes — with no guesswork or pressure.
📞 804-774-5217
📍 Serving Richmond, Chesterfield, Midlothian, and surrounding communities
