The floor areas of the cellar, the porches, and the house itself (the
superstructure) are shown with each plan. They do not include unexcavated
cellar space nor unfinished space in attics. The areas were figured from
the working drawings (see p. 7) because in some cases the dimensions
given in the plans herein are approximate only. The superstructure area
of a house of more than one story is given here as the area of the
first-floor plus the usable area of the second-floor. Stairways, halls,
and closets are included. To estimate very roughly what a house might
cost, multiply the number of square feet of cellar floor space by a cost
per square foot based on the costs stated above. Do the same for the
house superstructure and the porches, and add the figures together. This,
with allowance for price changes since the spring of 1934, will give
a rough estimate of total cost of the house. The actual cost will, of
course, be affected by the materials and home equipment which the owner
selects and by the skill and efficiency of the builders.
If the owner can furnish part of the material or labor, or if interior
finish or equipment is omitted, the initial cash outlay may be reduced.
Estimates based on local prices and wage rates are to be preferred to
those based on the cost figures given above.
Little study has been given to what amounts farm people are justified
in spending for their houses, but several investigations have been
made of expenditures for housing by people with fixed incomes. It is
generally agreed that the house ordinarily should not cost more than two
and one-half times the average annual net income of the family. In the
case of the farm family the value of the living furnished by the farm
should be considered as part of the income. Another generally accepted
rule, which perhaps is more nearly applicable to farm conditions, is
that not more than 25 percent--usually not more than 20 percent--of the
average annual net income of the family should be required for housing,
including principal payments, interest, taxes, insurance, repairs, and
miscellaneous costs.