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re: Size of home to build...Keep going back and forth...

Posted on 9/19/16 at 1:19 pm to
Posted by ItNeverRains
37069
Member since Oct 2007
25363 posts
Posted on 9/19/16 at 1:19 pm to
quote:

Sorry...Here is a little more info...The reason we are considering building is we want to have a house that is going to be the hang out house. I know a pool isn't the best investment, but it is one of the reasons we want to build a house. Get exactly what we want to make it place everyone will want to be at as opposed to our kiddos want to go elsewhere to hang out. 


See my first post. Not impossible, but in my experience this is the type of house you will likely have to build vs find. You'll want around 2k ft2 on upstairs for kids bedrooms/baths and bonus room for hangout.
Posted by dallaslsufan
Dallas
Member since Sep 2004
400 posts
Posted on 9/19/16 at 5:00 pm to
I am so in my own world and really don't have a clue what most people would do in my situation. I know it shouldn't matter, and it doesn't, but I am just curious as to how much a family would spend on a house in my situation. I feel like I am going way overspending if I spending $500 - $600k in addition to the lot I already own...I feel foolish...But at the same time, I think we need the space...I'm just struggling and I want someone to tell me it is fine...hahaha...Sorry for sounding like a flake. Thanks for the feedback so far!
Posted by tiger91
In my own little world
Member since Nov 2005
36702 posts
Posted on 9/19/16 at 7:19 pm to
We have 3 kids ... one isn't really ever here but the other 2 are (24, 19, 15). We moved 2 years ago from 1800 sq ft and teh boys sharing a room to 2400 and everyone has space and will always have their own space to "come home to" when they're older and married with kids.

It doesn't feel too big .. I think any bigger and it would.

eta: and yes our new home has a pool; bought it actually from friends and she admitted that we were basically getting the pool for "free" which we really did.
This post was edited on 9/19/16 at 7:20 pm
Posted by Chad504boy
4 posts
Member since Feb 2005
166043 posts
Posted on 9/19/16 at 8:28 pm to
4000 is the new 3000
Posted by Bayou Tiger
Member since Nov 2003
3657 posts
Posted on 9/19/16 at 9:30 pm to
quote:

I feel like I am going way overspending if I spending $500 - $600k in addition to the lot I already own...I feel foolish...But at the same time, I think we need the space...I'm just struggling and I want someone to tell me it is fine
Based on your finances, it's fine - really. This assumes that your business and income will keep trucking along, which is a big assumption.

Life's not just about accumulating wealth. With young kids and great financial progress so far, you should spend some of it wisely on things your family will enjoy.
Posted by makersmark1
earth
Member since Oct 2011
15714 posts
Posted on 9/20/16 at 5:06 am to
2700 square feet is plenty.

You have to heat and cool it. Mine is 3200. I wish it were smaller with an more efficient floor plan.

Recommendations:
No dining room
Small kids rooms.
Jack and Jill kids bathroom.
Have a nice kitchen, but don't overdo it with every amenity
Posted by DukeSilver
Member since Jan 2014
2719 posts
Posted on 9/20/16 at 5:41 am to
quote:

For someone who seems as financially responsible as you sound, I'm surprised you would make a terrible financial decision to want to build a pool. You will lose money right there. If you just have to have a pool, I'd look at buying a house that already has a pool and let the previous owner take the hit on the pool.


Why is this stupidity posted so often on this website?
Posted by dallaslsufan
Dallas
Member since Sep 2004
400 posts
Posted on 9/20/16 at 6:46 am to
What is your opinion on a pool then?
Posted by Junky
Louisiana
Member since Oct 2005
8351 posts
Posted on 9/20/16 at 6:47 am to
quote:

$600k in cash in the bank. Maxing the approx $50k a year into 401k. About $200k in retirement...37 years old.


I would consider retirement.

Dang I must be a poor man and don't know it.
Posted by ItNeverRains
37069
Member since Oct 2007
25363 posts
Posted on 9/20/16 at 8:41 am to
No problem. I basically did the past 8 months the what you are purposing to do for yourself. We had 2700ft2 down, 4bd/4ba home with another 400ft2 bonus room up on same street. But house wasn't setup to be hangout house. Sold and bought lot on same street. Now have 4800ft2 (2700 down, 2100 up) and it is perfect. Bonus up is 850ft2 with 12' ceilings, full media and game room with kitchenette rough in for when kiddos get a little older.

Get a little ROL on your money.
This post was edited on 9/20/16 at 8:42 am
Posted by BeauxNArreaux
Tennessee
Member since Jun 2016
746 posts
Posted on 9/20/16 at 2:24 pm to
Remember, the resale/appreciation value is generally better when you're a smaller house among larger houses, as opposed to being the biggest house on the street.
If all other things are equal between the two lots, Id build in the one surrounded by houses larger than mine.
Posted by b-rab2
N. Louisiana
Member since Dec 2005
12575 posts
Posted on 9/20/16 at 9:04 pm to
quote:

2700 square feet is plenty.

You have to heat and cool it. Mine is 3200. I wish it were smaller with an more efficient floor plan.

Recommendations:
No dining room
Small kids rooms.
Jack and Jill kids bathroom.
Have a nice kitchen, but don't overdo it with every amenity



I must be old school but I want a dining room and larger kids rooms in my next house. J&J is fine
Posted by guttata
prairieville
Member since Feb 2006
22504 posts
Posted on 9/20/16 at 10:30 pm to
I have a builder friend who thought the same way, so he built a house in Samta Maria that did not have a dining room. Figured that nobody uses the room and the square footage would be much better served by making larger kitchen and bedrooms. Went to sell the thing and couldn't get any bites. First thing every potential buyer asked was, where's the dining room?
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
65423 posts
Posted on 9/21/16 at 1:12 am to
You sound dead-set on building. Obviously you have the necessary resources but have you done it before?

Some folks wish they hadn't the first time and won't ever do it a second time and others do it every two years.

Personally, I favor finding an existing house and if you have to add the pool to it, do so. If it already has one or installing one you'll have the whole winter to get it right for spring.

I'm also a less is more on the square footage, 3,000 sq. feet or less that's well-laid out is fine for two adults and twins.

Good luck!

This post was edited on 9/21/16 at 1:13 am
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