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Started By
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$236,000 To Rebuild A 1,120 Sq. Foot House In OPP - Huh??
Posted on 10/16/23 at 4:33 pm
Posted on 10/16/23 at 4:33 pm
A family member of mine is shopping around for insurance in homeowner's insurance in Orleans Parish, and she's being told that her coverage has to be for $236K on a home that's 1,120 square feet.
Nothing fancy at all about this place, typical ranch style home, low ceilings everywhere, etc. Just an extremely basic house.
If this cost is way too high, how can someone dispute this in the right way that can be effective in getting more realistic coverage?
Thanks in advance!
Nothing fancy at all about this place, typical ranch style home, low ceilings everywhere, etc. Just an extremely basic house.
If this cost is way too high, how can someone dispute this in the right way that can be effective in getting more realistic coverage?
Thanks in advance!
This post was edited on 10/16/23 at 4:39 pm
7
Posted on 10/16/23 at 4:46 pm to TimeAndTide
It isn’t cheap to rebuild after a natural disaster
Posted on 10/16/23 at 4:49 pm to wickowick
quote:
It isn’t cheap to rebuild after a natural disaster
You don't say.
Can we get a little more specific?
This post was edited on 10/16/23 at 4:50 pm
Posted on 10/16/23 at 5:14 pm to TimeAndTide
quote:
Can we get a little more specific?
Price of building materials is way higher.
But more importantly the price of wages for construction workers is significantly higher.
Posted on 10/16/23 at 5:58 pm to TimeAndTide
New construction homes around here should be close to $250/sq ft in this economy, no? Seems close to accurate I would imagine.
Posted on 10/16/23 at 5:58 pm to TimeAndTide
Pretty high. Need to shop more
Posted on 10/16/23 at 6:03 pm to TimeAndTide
quote:
$236,000 To Rebuild A 1,120 Sq. Foot House In OPP - Huh??
Posted on 10/16/23 at 6:09 pm to b-rab2
I'd swear there was a builder or construction company owner on here recently that mentioned it's around $150/square foot for something basic.
Wish I could find the dang post!
Wish I could find the dang post!
This post was edited on 10/16/23 at 7:09 pm
Posted on 10/16/23 at 7:14 pm to bbvdd
Plus your have to demo the old home, and clean the lot off prior to rebuild. This isn’t a new build on a clean slate, it is demo and remodel worse case.
Reconstruction is a lot more expensive per sf than a new constitution it in build.
Reconstruction is a lot more expensive per sf than a new constitution it in build.
This post was edited on 10/16/23 at 7:17 pm
Posted on 10/16/23 at 7:45 pm to TimeAndTide
There's a few builders on here.
Everything is still expensive.
What we consider basic is not really basic. Today's basic homes have granite countertops, recessed can lighting,ceramic tile etc etc.
Basic is really cheap Formica countertops, vinyl tile, and a ceiling fan/light in each room.
Some of those upgrades don't add much, but when you add them all.
Everything is still expensive.
What we consider basic is not really basic. Today's basic homes have granite countertops, recessed can lighting,ceramic tile etc etc.
Basic is really cheap Formica countertops, vinyl tile, and a ceiling fan/light in each room.
Some of those upgrades don't add much, but when you add them all.
Posted on 10/16/23 at 8:54 pm to TimeAndTide
Will you build me a 1,120sqft house to my specifications for 236k?
Posted on 10/16/23 at 9:54 pm to kengel2
[quote Basic is really cheap Formica countertops, vinyl tile, and a ceiling fan/light in each room. Some of those upgrades don't add much, but when you add them all.[/quote]
That's exactly what this house has, and that's why $236,000 has me bewildered.
That's exactly what this house has, and that's why $236,000 has me bewildered.
This post was edited on 10/16/23 at 9:56 pm
Posted on 10/16/23 at 10:07 pm to TimeAndTide
quote:Is there a garage, carport, or patio space in addition to that 1,120 square feet? All of that factors into rebuild cost, plus as someone else mentioned…debris removal.
I'd swear there was a builder or construction company owner on here recently that mentioned it's around $150/square foot for something basic
Posted on 10/17/23 at 6:02 am to Tiger Prawn
quote:
debris removal.
I haven’t looked in a long time I’m sure costs have gone way up, but you used to be able to demolish a home for under $5,000. So let’s say $20,000 at most. That’s not a lot.
Building a home under 1800 or so sq ft is not cheap as getting a contractor and subs out for smaller homes is basically just as costly as it is for a 2000 sq ft home.
My father in law built a barndominium 4 years ago because they couldn’t find a contractor willing to build a 1000 sq ft ‘camp’ house for under $180,000. They ended up with a barndominium they self contracted and it was about $80,000.
This post was edited on 10/17/23 at 6:03 am
Posted on 10/17/23 at 7:46 am to TimeAndTide
quote:
I'd swear there was a builder or construction company owner on here recently that mentioned it's around $150/square foot for something basic.
Why would any decent contractor want to build a house for $150/sq foot when they can make $250 using their subs on another house. The materials may be cheaper for a simple home, but the labor won’t be that much cheaper.
Posted on 10/17/23 at 12:28 pm to Tiger Prawn
quote:
Is there a garage, carport, or patio space in addition to that 1,120 square feet? All of that factors into rebuild cost, plus as someone else mentioned…debris removal.
No garage at all, no patio space, and just a very simple carport. The carport at the most would be probably add 3 grand, as most of the time they're just those cheap looking aluminum things on a house like this.
This post was edited on 10/17/23 at 12:51 pm
Posted on 10/17/23 at 2:40 pm to TimeAndTide
what insurer are you talking about? USAA?
Posted on 10/17/23 at 2:42 pm to TimeAndTide
quote:
236K
Ask the agent to run the RCE again with builder grade finishes.
Posted on 10/17/23 at 3:16 pm to BilbeauTBaggins
quote:
New construction homes around here should be close to $250/sq ft in this economy, no? Seems close to accurate I would imagine.
so you're telling me there isn't a single new construction cookie cutter 1200sq ft home for sale under about $325K?
Posted on 10/17/23 at 3:29 pm to TeddyPadillac
quote:
so you're telling me there isn't a single new construction cookie cutter 1200sq ft home for sale under about $325K?
Not many if any
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