The cost of an oak timber frame enclosed with stress skin panels will cost about $30 per square foot of living area. A general rule-of-thumb is that the frame and panel cost may be 25% to 30% of the completed house cost. This is only a generalization and will vary due to geographical area, house design, quality of materials, site conditions, etc. In 2004 in central Massachusetts new house construction cost was about $100 per square foot and up.