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re: Land used in getting loan for new house

Posted on 7/9/13 at 9:05 am to
Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 9:05 am to
Everything I have seen and people I have talked with for $100-110 sq ft you can build a pretty nice house here in Louisiana

eta: i also plan on doing alot of work myself so that will drop the $ sq ft a bit
This post was edited on 7/9/13 at 9:06 am
Posted by Broke
AKA Buttercup
Member since Sep 2006
65044 posts
Posted on 7/9/13 at 9:16 am to
I built for $155 locally. But I have a custom home with some really nice shite.
Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 9:19 am to
quote:

I built for $155


I assume you didn't do any work yourself?
Posted by ItNeverRains
37069
Member since Oct 2007
25397 posts
Posted on 7/9/13 at 9:39 am to
You can absolutely build a nice house for that per sq ft.
Posted by trillhog
Elite Membership
Member since Jul 2011
19407 posts
Posted on 7/9/13 at 9:44 am to
whatever your budget it go ahead and tack on 25% more when building to be safe, things tend to add up quick.
Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 9:46 am to
quote:

25% more when building to be safe
Posted by trillhog
Elite Membership
Member since Jul 2011
19407 posts
Posted on 7/9/13 at 9:48 am to
ok, maybe not that much, but trust me you will go over your budget, probably a lot.
Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 9:52 am to
Well I hopefully I stay pretty close to the goal. I think with the research and planning I am doing/have done it will pay off and help me stay on budget. Im sure there will be things that I overlook and end up costing more than expected but I also try and budget using the higher end of numbers than the average.
Posted by GeauxldMember
Member since Nov 2003
4377 posts
Posted on 7/9/13 at 11:45 am to
$160-170/square foot in or around NOLA. The square footage thing is dangerous though. Consider that I may build a home that's 4200 total square feet, with 2400 square feet of living area. You may be building a house with similar specs at 4200 total and 3600 living. Guess who will be paying more per square foot...
Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 12:04 pm to
quote:

Guess who will be paying more per square foot..


the smaller home will be more per sq ft.
Posted by saderade
America's City
Member since Jul 2005
25730 posts
Posted on 7/9/13 at 1:00 pm to
Our builder said most of the houses he is doing now in New Orleans are built for around $130. These are all custom but most are over 3500 sq feet so that skews the square foott numbers. But he is only the builder and not the contractor so he doesn't take a percent from the subs which saves a lot.
Posted by trillhog
Elite Membership
Member since Jul 2011
19407 posts
Posted on 7/9/13 at 1:21 pm to
idk how long you are planning on staying in this new house, but don't build the biggest house in your neighborhood.
Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 1:32 pm to
quote:

idk how long you are planning on staying in this new house, but don't build the biggest house in your neighborhood.



Plan on being in it for the long haul. There are several other houses that will be the same size maybe a bit bigger and smaller. Im looking at 2,200-2,500 living area.
Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 1:34 pm to
One thing I cant wrap my head around is two story homes are typically cheaper to build than single story homes all things similar. I didnt believe it bc it seems like anytime you go off the ground things would get more expensive, but supposedly you save on concrete, roofing, & plumbing
Posted by GeauxldMember
Member since Nov 2003
4377 posts
Posted on 7/9/13 at 2:54 pm to
quote:

the smaller home will be more per sq ft.


Of course not. The home with more finished space will be more expensive (again, assuming finishes are similar). My point is basically that you can't ask for a square foot price-- unless all things are relatively equal-- and expect it to translate to your project.
Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 3:05 pm to
quote:

My point is basically that you can't ask for a square foot price-- unless all things are relatively equal-- and expect it to translate to your project.


It seems everyone I speak regarding building they want to use $ per sq ft just give me a damn total
Posted by GeauxldMember
Member since Nov 2003
4377 posts
Posted on 7/9/13 at 3:15 pm to
Are they giving you that figure based on existing plans? If so, it's probably close. If not, it's just a swag.

Posted by slapahoe
USA
Member since Sep 2009
7442 posts
Posted on 7/9/13 at 3:37 pm to
no prints...just floor plans with details.

so its probably
quote:

just a swag.
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