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Questions about building a house and costs

Posted on 7/24/14 at 2:04 pm
Posted by Jack Daniel
In the bottle
Member since Feb 2013
25385 posts
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?
Posted by Geauxld Finger
Baton Rouge
Member since Jan 2005
31657 posts
Posted on 7/24/14 at 2:06 pm to
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 by Jack Daniel
In the bottle
Member since Feb 2013
25385 posts
Posted on 7/24/14 at 2:08 pm to
No. Trying to find a rough cost estimate to decide on size of house
Posted by SetTheMood
The Red Stick
Member since Jul 2012
3182 posts
Posted on 7/24/14 at 2:10 pm to
quote:

cost per sq. ft.
Is entirely dependent on the level of amenities you and your wife want in the home.
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
71284 posts
Posted on 7/24/14 at 2:11 pm to
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 by Jack Daniel
In the bottle
Member since Feb 2013
25385 posts
Posted on 7/24/14 at 2:14 pm to
That's also a concern of mine. Since its an area I am not from, I do not know many people.
Posted by Geauxld Finger
Baton Rouge
Member since Jan 2005
31657 posts
Posted on 7/24/14 at 2:16 pm to
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 by kingbob
Sorrento, LA
Member since Nov 2010
66968 posts
Posted on 7/24/14 at 2:17 pm to
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.
Posted by whit
Baton Rouge
Member since Sep 2010
10998 posts
Posted on 7/24/14 at 2:18 pm to
I'm about to build one in P'ville for about $93 sq ft.
Posted by ChadJones4Heisman
Baton Rouge
Member since Jan 2008
2406 posts
Posted on 7/24/14 at 2:18 pm to
Geauxld knows what's up
Posted by Jack Daniel
In the bottle
Member since Feb 2013
25385 posts
Posted on 7/24/14 at 2:20 pm to
You subbing out or turn key?
Posted by NOLAGT
Over there
Member since Dec 2012
13495 posts
Posted on 7/24/14 at 2:20 pm to
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 by whit
Baton Rouge
Member since Sep 2010
10998 posts
Posted on 7/24/14 at 2:22 pm to
I'm subbing everything out.
Posted by saderade
America's City
Member since Jul 2005
25719 posts
Posted on 7/24/14 at 2:26 pm to
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 by pdubya76
Sw Ms
Member since Mar 2012
5945 posts
Posted on 7/24/14 at 2:31 pm to
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 by Jack Daniel
In the bottle
Member since Feb 2013
25385 posts
Posted on 7/24/14 at 2:34 pm to
So you did all that work yourself and still paid $100 a sq. ft? shite!!!
Posted by kingbob
Sorrento, LA
Member since Nov 2010
66968 posts
Posted on 7/24/14 at 2:34 pm to
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 by Who Me
Ascension
Member since Aug 2011
7090 posts
Posted on 7/24/14 at 2:34 pm to
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.
Posted by T4
Member since Mar 2014
288 posts
Posted on 7/24/14 at 2:37 pm to
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 by Capital Cajun
Over Yonder
Member since Aug 2007
5525 posts
Posted on 7/24/14 at 2:37 pm to
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.
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