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Message
Home building costs? (St Tammany)
Posted on 4/8/21 at 8:14 pm
Posted on 4/8/21 at 8:14 pm
I invested well in some land a few years ago and built a house on it. I’m watching all of this crazy money being spent on the real estate market. I think I can get at least an 80% profit.
I’m thinking about selling most of it and keeping a couple acres to build on.
All that to ask, what are building costs per sq ft running right now? Have they jumped like existing prices? I know finishes determine final, but what are we looking at ballpark 3000 sq ft house for modest finishes?
I’m thinking about selling most of it and keeping a couple acres to build on.
All that to ask, what are building costs per sq ft running right now? Have they jumped like existing prices? I know finishes determine final, but what are we looking at ballpark 3000 sq ft house for modest finishes?
14
Posted on 4/8/21 at 8:49 pm to Sheepdog1833
The problem with selling in a high market is having to replace it. At least $200 sq ft.
Posted on 4/8/21 at 9:09 pm to Sheepdog1833
Just got a bid back yesterday, 200 / sqft (including lot cost). Price of lumber is stupid but everything I read says it isn’t coming down any time soon
Posted on 4/8/21 at 9:44 pm to Sheepdog1833
200 a sq foot. We're 90,000 over out budget and that just because the price of wood. We have yet started waiting for the bank. But man its scary
Posted on 4/8/21 at 9:48 pm to Sheepdog1833
$175 to $190/ SF if you already own the land.
The larger issue is that the appraisals are not capturing actual construction costs with the inflated material prices and labor demand. If you do not have the extra liquid to bridge the gap when construction is compete and close on the mortgage, you are screwed.
Another huge variable that is quickly coming into play here is the availability of building materials. I've had over a dozen calls from suppliers this week alone warning me of material allotments from their manufacturers. They cannot confirm lead times after this month.
Not only are we seeing real-time inflation, we are close to seeing projects come to a screeching halt waiting on materials.
The larger issue is that the appraisals are not capturing actual construction costs with the inflated material prices and labor demand. If you do not have the extra liquid to bridge the gap when construction is compete and close on the mortgage, you are screwed.
Another huge variable that is quickly coming into play here is the availability of building materials. I've had over a dozen calls from suppliers this week alone warning me of material allotments from their manufacturers. They cannot confirm lead times after this month.
Not only are we seeing real-time inflation, we are close to seeing projects come to a screeching halt waiting on materials.
Posted on 4/8/21 at 9:48 pm to welder69
shite half a mil for 2500 sq ft?
So building costs have followed. Crazy
So building costs have followed. Crazy
Posted on 4/8/21 at 10:36 pm to Sheepdog1833
It’s ridiculous.
Posted on 4/8/21 at 10:58 pm to Sheepdog1833
We just got our bid on 4100 total sq ft @ 165 per sq ft in Lafourche parish.
We own the lot already.
House should have been around 110 per when we originally started looking 2 years ago
We own the lot already.
House should have been around 110 per when we originally started looking 2 years ago
Posted on 4/9/21 at 7:23 am to Sheepdog1833
I can give you a pretty good indication
225/sq foot with Wolf/sub zero kitchen package, hardi plank siding, wood floors, fiberglass windows and doors and 10 foot ceilings.
The lumber alone will be 150,000 to 180,000.
Still cheaper than many houses are selling for in Slidell
225/sq foot with Wolf/sub zero kitchen package, hardi plank siding, wood floors, fiberglass windows and doors and 10 foot ceilings.
The lumber alone will be 150,000 to 180,000.
Still cheaper than many houses are selling for in Slidell
This post was edited on 4/9/21 at 8:28 am
Posted on 4/9/21 at 9:53 am to SlidellCajun
quote:
225/sq foot
quote:
Still cheaper than many houses are selling for in Slidell
If there was any residual doubt we are in a bubble it's now gone
This post was edited on 4/9/21 at 9:54 am
Posted on 4/9/21 at 12:32 pm to NewOrleansBlend
Just talked to a couple builders. Consensus seems to be around 135-160.
According to them, Electrical wire doubled in price this week. And windows are very hard to come by.
According to them, Electrical wire doubled in price this week. And windows are very hard to come by.
Posted on 4/9/21 at 6:54 pm to TigerDat
quote:
We just got our bid on 4100 total sq ft @ 165 per sq ft in Lafourche parish.
Is this a turn key? We are starting in September in napoleonville but we are subcontracting. Called about materials the other day and it was about 30k more than what it was 2 years ago. Puts us at about 132 per sq ft.
Posted on 4/9/21 at 7:11 pm to shoelessjoe
Friend of mine told me he is at 184/sf in Metairie and he owns the lot and is gonna be his own GC
Posted on 4/10/21 at 8:21 pm to Neauxla
New construction in Prarieville are going for north of $220 a foot. A house in my neighborhood just went for $232. People are driving around on weekends asking if we’re interested in selling while my neighbors and I are doing yard work.
The market is insane and it can’t last.
The market is insane and it can’t last.
This post was edited on 4/10/21 at 8:23 pm
Posted on 4/11/21 at 6:47 am to Sheepdog1833
$200 per foot, plus land cost
Posted on 4/11/21 at 10:03 am to shoelessjoe
quote:
this a turn key? We are starting in September in napoleonville but we are subcontracting. Called about materials the other day and it was about 30k more than what it was 2 years ago. Puts us at about 132 per sq ft.
Yes, we are using Pelican Builders group out if Thibodaux.
Posted on 4/12/21 at 10:49 am to TigerDat
I've been getting quotes at $150/ft but for gross, not living.
Posted on 4/12/21 at 7:45 pm to Neauxla
Ours is total not living
Posted on 4/12/21 at 10:08 pm to Sheepdog1833
quote:
Electrical wire doubled in price this week
It’s been going up, but in no way has it doubled in price in the last week
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