ruskent

I have been interested in building houses since my first day laboring on the framing crew when i was 13. It looks like in a few months i should have enough capital to buy my first lot. I really want to get my hands on a lot before people start to think things are getting better and raise their prices!


My main concern is what the acctual house will cost me to build. I know house plans are designed around alot most of the time. I know what style and size house i want to build. I just need to make sure it is fesible and profitable enough venture to take the risk. Would it be possible to get a set of plans drawn up so i can price out the house? It seems that without a detailed set of prints i really can't figure out the price. I know the plan may change alittle bit if i need a walkout basement or something depending on the lot, but i figure i should be able to get within 5% of true cost?

Also, knowing the construction cost of the house will help me figure out the optium lot size/value to make the house worth the most money.


So is it worth it getting plans drawn up before buying the lot?

Any advice would be helpful.

jmic

For you to live in or for speculation ?

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Joe

ruskent

Speculation. I know I need to wait for the market to improve.

oldfrt

It seems like it would be hard to speculate construction costs for a project so far in the future, and not have to build in an allowance for rising material and labor costs too.
Just add those facts to your %,


Seeing you know the size and style,sometimes you can find the prints on line.
I think I paid about $300 for a set of detailed prints that were close to my own plans and then paid a draftsman $100 to make personalized changes.
I already had the lot and was restricted by side yard setbacks This will be a concern ,and you may limit yourself to a certain sized lot for your own plans.

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ruskent

I know the area i am looking to buy the lot and what sizes. I would be looking to start building in the fall.

I am looking to build in the 275-300k price range. Houses are still moving in that range.

valerko

Depending on state,area,typo of finish......
I'm doing 2 raised ranches right now in NY about 1 1/2 from city.They'll go on the market for around 375k
Just the houses alone without the lot and site work should be around 125k
They're about 2000 sqft ,couple of roof lines(not just the square modular type raised ranch),700 sqft unfinished basement(above grade) and 2 car garage,3 bedrooms,2 bths,kitchen family room,dining room,nicely finished with HW ,tile ,carpet for bedrooms,lots of EYE Candy

Hope that helps.

Cole

What style of house, what size?

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ruskent

That helps alot. Where i am looking to build is 1.5 hours from the city. And i am looking to do a similar size house also.

framerman

I don't want to deter your ambition, but it doesn't sound like you've done enough educating yourself on this end. I would highly suggest investigating ALL your costs and yes, this needs to come from plans. It's not a plan without a plan. You don't really need a detailed plan, you need YOUR plan. Most builders get the builder prints, about 12 sheets or so, but unless you're going to pay someone to deck it out complete, you will need to be the one figuring your prices and details and you should be doing that anyway.

It's your money coming out of your pocket and if you miss something and didn't plan for it, it can really make your excitement in building your first spec home completely disappear and force you into a very bad situation.

Besides, there is no harm in doing a starter home and working your way up from there. Starting big means you can also fall big, just watch your step and cover your bases.

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and endeavors to live the life which one has imagined,
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