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Questions about building a house and costs
Posted on 7/24/14 at 2:04 pm
Posted on 7/24/14 at 2:04 pm
I'm not sure if this is the best board or not. I posted this on the money board and no responses. The wife and I decided to build a house on family land in Natchez, MS.
Anyone her have an idea of cost per sq. ft. For that area? I will sub it out myself.
Also, I have a descent amount of money saved up. Should I borrow from the bank for the house then put the money down at closing or pay contractors with cash personally?
Anyone her have an idea of cost per sq. ft. For that area? I will sub it out myself.
Also, I have a descent amount of money saved up. Should I borrow from the bank for the house then put the money down at closing or pay contractors with cash personally?
Posted on 7/24/14 at 2:06 pm to Jack Daniel
quote:
I will sub it out myself.
Also, I have a descent amount of money saved up. Should I borrow from the bank for the house then put the money down at closing or pay contractors with cash personally?
This seems like a tricky thing to do. You got architectural plans yet?
Posted on 7/24/14 at 2:08 pm to Geauxld Finger
No. Trying to find a rough cost estimate to decide on size of house
Posted on 7/24/14 at 2:10 pm to Jack Daniel
quote:Is entirely dependent on the level of amenities you and your wife want in the home.
cost per sq. ft.
Posted on 7/24/14 at 2:11 pm to Jack Daniel
quote:
Anyone her have an idea of cost per sq. ft. For that area?
If you don't know this.
quote:
I will sub it out myself
I wouldn't do that.
Posted on 7/24/14 at 2:14 pm to Jcorye1
That's also a concern of mine. Since its an area I am not from, I do not know many people.
Posted on 7/24/14 at 2:16 pm to Jack Daniel
quote:
No. Trying to find a rough cost estimate to decide on size of house
anything anyone gives you is going to be an arbitrary number. I would hire an architect that can put you in touch with a builder and bid it that way. Get your drawings done first. Pick what you want: # of bed rooms, bathrooms, kitchen size, amenities etc. Don't just pick a sf. Make a list of must haves, wants, and other possibles. Fit the SF to fit your wants not the other way around.
Posted on 7/24/14 at 2:17 pm to Jack Daniel
Rules of advice:
Never sub out the job yourself unless you are:
A. A licensed general contractor
B. Know what the heck you are doing
C. Have the time to watch your subs like a hawk and price out bids for work
D. Already know and have reliable subs willing to do the work
If you don't have these things, then find a reputable GC and stick with them.
As for pricing, that's difficult to say. There are simply too many factors to work up a conceptual estimate. I would start with working out a budget of how much you can afford to spend and then try to maximize the house for the money.
Never sub out the job yourself unless you are:
A. A licensed general contractor
B. Know what the heck you are doing
C. Have the time to watch your subs like a hawk and price out bids for work
D. Already know and have reliable subs willing to do the work
If you don't have these things, then find a reputable GC and stick with them.
As for pricing, that's difficult to say. There are simply too many factors to work up a conceptual estimate. I would start with working out a budget of how much you can afford to spend and then try to maximize the house for the money.
Posted on 7/24/14 at 2:18 pm to Jack Daniel
I'm about to build one in P'ville for about $93 sq ft.
Posted on 7/24/14 at 2:20 pm to Jack Daniel
Sounds like a nightmare waiting to happen IMO. I am building right now...and sure I "think" I could sub it all out well enough (I cant really). Issue is there are a TON of subs...who do you pick? The good ones are busy with contractors...that leave the not so good. I know some people who built like that...had a leak in one room. The framers blamed the window installers who blamed the foam insulation installers who blamed the roof people...and so on. My builder is only charging 10% over cost...and for that headache...well worth it IMO.
This post was edited on 7/24/14 at 2:22 pm
Posted on 7/24/14 at 2:22 pm to Jack Daniel
I'm subbing everything out.
Posted on 7/24/14 at 2:26 pm to NOLAGT
I am legally the contractor on my current build but I am paying a builder a flat fee to oversee and organize everything. I don't see how anyone could do it without contracting experience or lots of help from someone.
Posted on 7/24/14 at 2:31 pm to Jack Daniel
I did it last year in Amite county. I paid a local GC to oversee the foundation,framing...through black in. I subbed out the metal roof, hvac, electrical, plumbing,countertops,Sheetrock hanging, and finishing. We did all painting, insulation, and clean up.i bought the appliances online and installed them myself.My buddy and I did all the trim inside.. He is a master carpenter so I pretty much was a helper. He built all the window casings. It was 7.5 months of nothing but the house. We ended up getting more house than we could have using a GC for everything. Our house is 3000la/4605 total. It's a 2 story with 4br/3.5ba and a full mil apt. I have 303k in it. I owned the land outright prior to building.
Posted on 7/24/14 at 2:34 pm to pdubya76
So you did all that work yourself and still paid $100 a sq. ft? shite!!!
Posted on 7/24/14 at 2:34 pm to saderade
quote:
I don't see how anyone could do it without contracting experience or lots of help from someone.
My dad just got raped by subs on a renovation job because he tried to sub it out himself and refused to let me run the job for him (I'm a contractor). He wanted me to put my name on it while having zero control and actually just be a gopher for the men on the work site. F That. He got raped because as was said prior, the good subs (especially electricians) don't want to work on a small job because there's no profit. They either want it to be cost plus a percentage fee (where they can rape you), or the put in a crazy high lump sum quote because they don't really want the job anyways. Even if they do take the job, your job will be very low on their priorities, so if another one comes along that's worth more, they will literally stop in the middle of your job, do the other one, and then maybe come back to finish yours later if they feel like it.
It's a tough situation and a lot more headache than it's generally worth. It can be cheaper, but runs the risk of being a lot more expensive before all's said and done, and will most assuredly take eat up a ton of your time.
Posted on 7/24/14 at 2:34 pm to Jack Daniel
I subbed out the building of my house in 2010.
I think I ended around $93 a square foot also.
You don't have to be an expert contracter to sub it out yourself. You will need good subs, a flexible schedule to be able to at the property just about every day while work is being done, and most of all common sense.
I might not be able to do plumbing or be able to frame up a house on my own but generally a person with a little common sense can look at something and tell when it's fricked up.
I think I ended around $93 a square foot also.
You don't have to be an expert contracter to sub it out yourself. You will need good subs, a flexible schedule to be able to at the property just about every day while work is being done, and most of all common sense.
I might not be able to do plumbing or be able to frame up a house on my own but generally a person with a little common sense can look at something and tell when it's fricked up.
Posted on 7/24/14 at 2:37 pm to Jack Daniel
Email me a list of prioritized amenities, elevation and floor plan of the style of house, description of lot, and length of drives. I can give you an idea pretty quick based off of this. I've built over 20 mil of residential homes in north Ms. so I have good info to go off of
Posted on 7/24/14 at 2:37 pm to Jack Daniel
Get house plans done first then hire a builder. The questions you are asking an your unfamiliarity with the area is a train wreck waiting to happen.
I'm no financial guru but if you have cash, it's king and you should be investing it and not spend it paying contractors. Borrow the money from the bank.
I'm no financial guru but if you have cash, it's king and you should be investing it and not spend it paying contractors. Borrow the money from the bank.
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