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Started By
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re: What's the average % a builder chargers for a house?
Posted on 1/8/14 at 8:56 am to mack the knife
Posted on 1/8/14 at 8:56 am to mack the knife
quote:
i charge 10% of appraised value.
This is frickin crazy. Appraised value also includes builder profit.
What if the appraisal has 20% external/economic obsolescence ?
2
Posted on 1/8/14 at 9:16 am to Drop4Loss
Appraisals have replacement values on them. I imagine that's what he goes on.
Posted on 1/8/14 at 9:19 am to Drop4Loss
How do you get an appraisal on a house that hasn't been built?
Posted on 1/8/14 at 9:21 am to Motorboat
Magic!
Posted on 1/8/14 at 9:27 am to 4LSU2
quote:
20 to 25% is about right
Well worth it, IMHO.
I've done lots of foolish, dangerous, and risky things in my life. I would probably do most of 'em again.
One thing I will not do again is build my own house.
Posted on 1/8/14 at 9:28 am to Motorboat
Appraisals are worthless.
They are the "lie detector tests" of the real estate world.
They are the "lie detector tests" of the real estate world.
Posted on 1/8/14 at 9:30 am to VetteGuy
12-15% is a good norm. 20-25%..... tell builder to go frick himself.
Posted on 1/8/14 at 9:31 am to tigertown80
depends, mine charged less than 5% as he charges a flat fee. talk to different contractors and ask what you are getting for that price. my contractor sucked but it was fine as I did quite a bit of the work and it was worth it for the price i paid, you will have to make the decision on what you are expecting in return for the money. choose wisely.
Posted on 1/8/14 at 9:31 am to Motorboat
quote:
How do you get an appraisal on a house that hasn't been built?
They do it based on what it will be and where it is with comps of course. Then when the house is built they do a final recertification of value.
This post was edited on 1/8/14 at 9:32 am
Posted on 1/8/14 at 9:44 am to Chad504boy
25% is cheaper than a good defense attorney would charge to defend me in a murder case (subs), so I think it's a good deal. 
Posted on 1/8/14 at 10:51 am to munchman
When acerage is involved and you are building a home somewhere on the acerage, you have a surveyor survey out a piece of the property where the home is built. That piece of the property with the home will be appraised.
Posted on 1/8/14 at 10:55 am to tigertown80
Get your GC license and DIY..
A friend did this and saved a shitload.
The hard part is making sure everyone shows up on schedule or it fricks up everything..
A friend did this and saved a shitload.
The hard part is making sure everyone shows up on schedule or it fricks up everything..
Posted on 1/8/14 at 11:03 am to LSUAlum2001
Ahh building your own house – my cousin, a couple of colleagues and my best friend did it – I think it took 5 yrs off each of their lives, ½ ended up in court and none that I know would do it again. As vetteguy says maybe 20-25% is a good deal if they do a good job and you avoid the legal fees/headaches. Ive never had a desire to have a house built and doubt I ever will. Give me a house my wife likes and I will make it my own enuff to like it as well – dealing w/ a sub or 2 on an existing home is enuff – f’n dry wallers are the worst
Posted on 1/8/14 at 11:06 am to OntarioTiger
I paid our builder a set fee to build the house. When all was said and done, that came out to 8% the cost of the build
Posted on 1/8/14 at 12:35 pm to munchman
quote:
munchman
quote:
My reason for the question is what do you do if you are building for a guy who has, 2000 acres, how do you calculate the land value or as you say it, the value of the lot?
what i have seen is what the poster above stated about having the home-site's boundaries set by a PLS. as an example: a friend of mine built his house on some inherited property, +/- 150 acres. the mortgage company/bank would only value 2 or 3 acres of it as a residential lot, the rest was valued as raw undeveloped land at a lower unit price.
Posted on 1/8/14 at 12:49 pm to tigertown80
8-12% is normal in my experience.
Don't listen to anyone telling you 25%. They are clearly ignorant
Don't listen to anyone telling you 25%. They are clearly ignorant
Posted on 1/8/14 at 12:55 pm to Athanatos
quote:
Athanatos
quote:
Don't listen to anyone telling you 25%. They are clearly ignorant
i'll do it for that, but would be happy at 10%.
Posted on 1/8/14 at 1:22 pm to mack the knife
quote:
Appraisals have replacement values on them. I imagine that's what he goes on.
No such thing, there is a "replacement cost".
Posted on 1/8/14 at 8:37 pm to lsu777
5% are you kidding, that's why your builder sucked
Posted on 1/8/14 at 8:41 pm to LSUAlum2001
It's a little more difficult than just going to get your GC license, need insurance etc and pass the test, which isn't too hard unless you don't have a construction background or experience which it sounds like op doesn't have. Also municipalities usually don't require you to have a license to build your own home
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