re: new residential construction prices

quote:

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We are planning to build in the next year or so. We own the land in full.

Have construction costs come down much since the COVID peaks? Is 175sqft a reasonable range if we aren't going all out on finishes?

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I had friends that were trying to build new construction in late 2020/early 2021 and they eventually backed out midway through. Idk what the rules are regarding it, but their issue was that the original quoted price went up $75k in a matter of weeks because of material prices (wood was insanely expensive). I couldn't imagine a builder telling me "hey you need to pay more now because it got expensive oopsie" and not have an agreed to price on construction. This was being done in one of those larger developments near University Club.

But yeah, as as everyone else is stating, your biggest issue would be the interest rate right now. Absolute bananas.