RunRyder RC
 2  Topic Subscribe
WATCH
 1 page 527 views
HelicopterOff Topics › building a house
01-23-2007 12:12 AM  10 years agoPost 1
helibandit

rrApprentice

Jacksonville, North Carolina - United States

My Posts: All  Forum  Topic

if you build a house to sell it what can you expect the cost to be versus what it sells for. i know its a vague question but im just looking to see an aprox like 75% build cost of the amount its actualy worth when sold. anyone? i was adding up some rough numbers and was figuring to build my the house im currently in it would cost about 60000 for everything including land (rough estimate) and my house is worth 105000. does that sound about right?

The only time you can have too much fuel is when your on fire

PM  EMAIL  GALLERY  Attn:RR  Quote
01-23-2007 12:26 AM  10 years agoPost 2
ckoelliker

rrElite Veteran

St. Simons, GA

My Posts: All  Forum  Topic

The bank lends me between 70-80% of the apraised value for a construction loan. I find it hard to do it for the 70%. Bear in mind there are a million different factors such as market size, time of year, etc.

PM  EMAIL  GALLERY  Attn:RR  Quote
01-23-2007 12:37 AM  10 years agoPost 3
Leif

rrElite Veteran

USA

My Posts: All  Forum  Topic

Those numbers sound low, but you don't say what kind of house you are talking about. There are also other factors such as utilities (will the home have township water/sewer or a well and septic system?), foundation options (full basement v.s. slab), driveway paved or not, etc.

You can easily put $20K/acre into a land purchase. A well will run you $5K to $10K and an average septic system will run in the $10K -15K range. That means around $40K for the lot before you even start construction of the home.

Leif

PM  EMAIL  GALLERY  Attn:RR  Quote
01-23-2007 12:51 AM  10 years agoPost 4
ckoelliker

rrElite Veteran

St. Simons, GA

My Posts: All  Forum  Topic

A construction industry saying: Twice as long and twice as much, right on schedule.

Generally speaking, The smaller the house, the smaller the risk, the smaller the return. I would think on anything around a 100,000 you would be lucky to get 10%. Meaning 100,000 dollar house will cost you 90,000 to build and sell. But on the other hand if the bank will lend you eighty thousand and you only need to come up with ten. You could double your ten thousand in as little as four to five months. I would pick a house that would suite your own personal needs. If you can't sell it you can always move into it.

PM  EMAIL  GALLERY  Attn:RR  Quote
01-23-2007 01:23 AM  10 years agoPost 5
EvoFlight50

rrApprentice

Southbury, CT

My Posts: All  Forum  Topic

wow the prices really vary across the country ... last year the builders i was working with were buying just a plain lot for $250,000 before doing an excavating or anything

PM  EMAIL  HOMEPAGE  GALLERY  Attn:RR  Quote
01-23-2007 01:41 AM  10 years agoPost 6
Leif

rrElite Veteran

USA

My Posts: All  Forum  Topic

Yup, but the numbers I quoted are 15+ years old. Based on the last five years of price increases they're probably 5 to 10 times as expensive.

Leif

PM  EMAIL  GALLERY  Attn:RR  Quote
01-23-2007 01:47 AM  10 years agoPost 7
valerko

rrVeteran

ny,dutches county

My Posts: All  Forum  Topic

You're not a builder,have no clue what you're doing,then 150k house is gonna cost you 175k to build.Contractors have different rates for homowners,then builders.

Trust me.

BTW:I've built new house 2 years ago and it cost me 450k(land was 150).
Now I'm building same one and it'll cost around 300k for house only,
3000sqft+_ center colonial on 4 acres.

PM  EMAIL  GALLERY  Attn:RR  Quote
01-23-2007 01:53 AM  10 years agoPost 8
EvoFlight50

rrApprentice

Southbury, CT

My Posts: All  Forum  Topic

valerko

i wired a ton of houses up in dutchess county a couple years ago ... i did a sub division of about 15 houses or something and another subdivision of 3 houses ...

it was about 5-10min away from the new home depot on route 9

PM  EMAIL  HOMEPAGE  GALLERY  Attn:RR  Quote
01-23-2007 02:03 AM  10 years agoPost 9
valerko

rrVeteran

ny,dutches county

My Posts: All  Forum  Topic

There's ton of subdivisions around ther now.Toll Brothers have few of them.
Oh,my house is worths between 550-600k.
Funny thing is exactly same house in lower Putnam or upper Westchester county would be 700-800k (land would be a lot more$$ too)

PM  EMAIL  GALLERY  Attn:RR  Quote
01-23-2007 02:09 AM  10 years agoPost 10
EvoFlight50

rrApprentice

Southbury, CT

My Posts: All  Forum  Topic

dont know if you've heard of the Stensrud's ... they are two brothers and their father ... they've been doing a ton of work the last couple years up there

PM  EMAIL  HOMEPAGE  GALLERY  Attn:RR  Quote
01-24-2007 12:12 AM  10 years agoPost 11
chopper_crazy

rrElite Veteran

Delphos, Ohio

My Posts: All  Forum  Topic

Take a hard look at the economy right now. Everyone is afraid to build their own house or buy a brand new one. I work at a hardware store in a contractor dept. Most of the guys I am talking to says it is getting harder and harder to sell a house. It is really a buyers market. For the most part, people of making what they have, what they want. They are remodeling instead of building from the ground up. To me, it is just too much of a risk right now. Hopefully by summer, things will get turned around.

It's a complex, costly, glow powered anti-gravity machine!

PM  EMAIL  GALLERY  Attn:RR  Quote
01-24-2007 12:17 AM  10 years agoPost 12
whirlyspud

rrKey Veteran

USA

My Posts: All  Forum  Topic

Tear downs around here are 500k for a cheap one.

Mike

PM  EMAIL  Attn:RR  Quote
WATCH
 1 page 527 views
HelicopterOff Topics › building a house
 Print TOPIC  Make Suggestion 

 2  Topic Subscribe

Friday, December 15 - 12:32 am - Copyright © 2000-2017 RunRyder   EMAILEnable Cookies

Login Here
 New Subscriptions 
 Buddies Online