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Started By
Message
How much do you typically save from Building your own house?
Posted on 1/3/11 at 6:38 am
Posted on 1/3/11 at 6:38 am
What I mean is buying a lot and getting a contractor whom has built houses in this particular neighborhood to build it for me. What percentage is normal to save on the value of the home?
9
Posted on 1/3/11 at 6:56 am to GIR
I think it's around 10 percent
Posted on 1/3/11 at 8:38 am to GIR
quote:That depends on if you count the expenses associated with your assured divorce as part of the building costs.....
How much do you typically save from Building your own house?
Posted on 1/3/11 at 8:53 am to GIR
I've thought about building for the last 3 years. What I've found is that the cost to build is much more than buying an existing home. Is this your question ?
Posted on 1/3/11 at 9:10 am to WaveForLSU
A big question is how much is your time worth to you?
I watched my dad self-contract our own house when I was younger and it was a royal pain in the arse. He probably worked 50 hours a week at his own job and 50 more at the house. Although we saved a ton of money and were able to build a nicer house than we could really afford I don't know if it was worth the time.
I watched my dad self-contract our own house when I was younger and it was a royal pain in the arse. He probably worked 50 hours a week at his own job and 50 more at the house. Although we saved a ton of money and were able to build a nicer house than we could really afford I don't know if it was worth the time.
Posted on 1/3/11 at 9:17 am to WaveForLSU
quote:
I've thought about building for the last 3 years. What I've found is that the cost to build is much more than buying an existing home.
Not if you are in a real estate market that is ridiculously expensive.
Posted on 1/3/11 at 10:19 am to LSURussian
Posted on 1/3/11 at 10:37 am to GIR
The key to building your own home is you get the design, fixtures, appurtenances, etc. you want up front. There is no retro fitting or living with other peoples taste if you build yourself. Whatever savings you think you can achieve by building yourself will be sucked up by our wife's need for better fixtures, flooring, crown molding, etc. I guarantee your wife will chew up any savings you might think you can achieve.
Last thing and its probably the most important thing. Spend money on your foundation. Make sure it's designed correctly and get it stamped by a structural PE that is familiar with the soil conditions in your area. Also, get a foundation warranty from your contractor and/or the sub-contractor he uses.
Last thing and its probably the most important thing. Spend money on your foundation. Make sure it's designed correctly and get it stamped by a structural PE that is familiar with the soil conditions in your area. Also, get a foundation warranty from your contractor and/or the sub-contractor he uses.
Posted on 1/3/11 at 10:43 am to EOT
I built my own home using the Owner Builder Network 3 years ago. We ended up spending right at $95/sq ft. We could have done it much cheaper but we went overboard on the finish out stuff (floors, appliances, cabinets, counters). It was tough but it was the best paying part time job I've ever had. Builders were quoting me $120/sqft. I saved around 68,000. I would never have been able to do it without using the OBN. They made it much easier and helped me throughout the process.
Posted on 1/3/11 at 10:43 am to GIR
The downside of building your own is that the subcontractors know they will never be working for you again. There is a much greater risk that they will cut corners. With a professional builder they want to assure their future jobs.
Posted on 1/3/11 at 10:46 am to GIR
quote:
What I mean is buying a lot and getting a contractor whom has built houses in this particular neighborhood
A builder is only as good as his subs he uses.
quote:
What percentage is normal to save on the value of the home?
Its like looking at new trucks on a sales lot. One has a sticker price of $20,000 and the other has a sticker of $30,000.
Its what you put into the house. All the extras. Its no end to what you can spend on a house. You can get a tub for $800 or one for $3,000. It adds up quick. Labor is the big thing right now. It takes a little leg work, but shop around, you can save money. I've been using some subs since the 70's. Some of the work you can do yourself and save. Most times the money people save, they put back into the house with upgrades.
Posted on 1/3/11 at 10:49 am to GumboPot
quote:
Last thing and its probably the most important thing. Spend money on your foundation. Make sure it's designed correctly and get it stamped by a structural PE that is familiar with the soil conditions in your area. Also, get a foundation warranty from your contractor and/or the sub-contractor he uses.
I only build homes with cable foundations.
quote:
I guarantee your wife will chew up any savings you might think you can achieve.
This could be true.
Most get a set (Sets) of plans and get bids on everything, total everything up and then add around 15%. People always miss something, upgrade, prices go up, etc.
Posted on 1/3/11 at 10:54 am to Zach
quote:
With a professional builder they want to assure their future jobs.
Somewhat, now days a builder may be slow, a change of subs maybe normal for him. Many do. Some builders may try and cut corners, to make more profit. Some get a kickback from a sub, just by a recommendation.
Too many things can go into building.
Posted on 1/3/11 at 10:59 am to GIR
what size/price range house we talking about?
Posted on 1/3/11 at 11:17 am to GIR
So many things can go into building a house. If you really want to build a house you can save money over an existing house plus get exacly what you want. If you sub it out yourself you can save money as opposed to getting a builder to do it. Many people will have different opinions on this matter.
I personally just sub contracted our new house. Was it time consuming and at times did I want to kill my subs...yes. But I had fun doing it and I saved about $10-15 a sq ft doing it myself.
I personally just sub contracted our new house. Was it time consuming and at times did I want to kill my subs...yes. But I had fun doing it and I saved about $10-15 a sq ft doing it myself.
Posted on 1/3/11 at 11:40 am to ScottieP
assuming that yuo dont do ANY work yourself a contractor's mark up is generally 20%; however, one thing to consider is the fact that contractors have relationship with subs and can usually get a better price on that end
Posted on 1/3/11 at 12:53 pm to Haughton99
I am going to be building my own home in about 5 months. What is this Owner Builder Network that you used? Any info you can give me would be greatly appreciated. TIA
Posted on 1/3/11 at 1:55 pm to SoggyNachos
quote:
I am going to be building my own home in about 5 months. What is this Owner Builder Network that you used? Any info you can give me would be greatly appreciated
Owner Builder LA
I used these people to help me build my house. Bill Martin was so much help through the whole process. I still call him from time to time with questions. He gives you a list of subs that you get bids from and they treat you like a builder because if they dont they are taken out of the network. He gives you a budget and a schedule to keep everything simple.
Posted on 1/3/11 at 2:50 pm to Haughton99
Well, so much for that. They only service the Ark-La-Tex area and have no contacts or similar programs in BR. I wonder if the CRBA has come together and forbid something like this from forming around here. Nevertheless, thanks for the info. It would be nice to have something like that in this area.
Posted on 1/3/11 at 3:12 pm to SoggyNachos
quote:
Well, so much for that. They only service the Ark-La-Tex area and have no contacts or similar programs in BR. I wonder if the CRBA has come together and forbid something like this from forming around here. Nevertheless, thanks for the info. It would be nice to have something like that in this area.
Check with LINK. Bill started as a franchisee with them and then split off when the allowed another franchise in this area. They might have someone in Baton Rouge. He was still with the original OBN when I built my house.
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