House Plans

[Road Head]

This builder has an arrangement with someone that does that work. He doesn't do design work himself. Only weighs in on cost/expense factors as part of the design.

Sadly, you are going to have to spend a chunk of money before you ever know if you can afford to build or not. The builder and architect can't bid anything before you have land, and you dont know if you can afford to build if you dont have a solid bid in-hand. You are in a tough spot.

I would ask the builder to show you a couple examples of homes he has built in the past year that are similar to what you envision, and get both his breakdown of the numbers as well as the current owners. Make sure you are getting the same story on both ends. Then see how those numbers work with your budget.

 

[BobKid]

My dad drew his plans on a sheet of copy paper and started building. He also did it himself. I would not recommend that strategy.

Had a coworker who did that. Lived in a travel trailer onsite and only built as he could pay cash for materials, so it took him several years to finish. We called some of the elements "Bill's WTF features" because nobody could figure out WTF he thought he was doing when he built things the way he did. Only things he paid to have done was wiring and septic; everything else he either did on his own or he had a bunch of friends over to help with. I still remember how hard it rained just after we poured his slab, and all the ridges it left in his floor.

 

[BobKid]

Sadly, you are going to have to spend a chunk of money before you ever know if you can afford to build or not. The builder and architect can't bid anything before you have land, and you dont know if you can afford to build if you dont have a solid bid in-hand. You are in a tough spot.

I would ask the builder to show you a couple examples of homes he has built in the past year that are similar to what you envision, and get both his breakdown of the numbers as well as the current owners. Make sure you are getting the same story on both ends. Then see how those numbers work with your budget.

Learned that the hard way. We were using recently built houses on the market in the area to estimate build costs and they were off 15-25% from what it would take to replace them.

Once we started getting bids and being familiar with the market at the time, I figured we would've been at least $200K underwater the day we moved in.

 

[Jeepnut28]

If I wasn't so dirt poor, I would love to have a modern house custom built for us.

maybe someday.

 

[wct097]

The problem I'm having is reconciling the entire budget vs what I can get by buying. If it costs me $75k for land and $350k to build 2k sq-ft, then I'm into it for $425k when I could probably buy something comparable for closer to $300k. That's an obscene difference in price.

My mom's house, for example, is 1800sq-ft on a basement with 5ac of land. Her appraisal came in at $230k. Granted, it was built in the mid-80s, but still.

Seems to me like people used to figure their house was worth a bit more than they paid once complete, but things just don't look like they add up like that. I feel like I'd be spending far in excess of the end value.

Had a coworker who did that. Lived in a travel trailer onsite and only built as he could pay cash for materials, so it took him several years to finish. We called some of the elements "Bill's WTF features" because nobody could figure out WTF he thought he was doing when he built things the way he did. Only things he paid to have done was wiring and septic; everything else he either did on his own or he had a bunch of friends over to help with. I still remember how hard it rained just after we poured his slab, and all the ridges it left in his floor.

I could see myself trying that if I were single.

 

[wct097]

On a different, but related note, there is some property down this private road for sale that would have an absolutely phenomenal view of the mountains.

Google Maps

My agent it looking for a price from the sellers for the parcel that is apart from, but listed with, the house. It's 54ac with a tax assessment of $171.7k. I'm expecting somewhere from $150-180k asking price for it, which puts it well out of our comfortable budget range. Our total budget for land and building is about $400k.

 

[BrandonM7]

The problem I'm having is reconciling the entire budget vs what I can get by buying. If it costs me $75k for land and $350k to build 2k sq-ft, then I'm into it for $425k when I could probably buy something comparable for closer to $300k. That's an obscene difference in price.

My mom's house, for example, is 1800sq-ft on a basement with 5ac of land. Her appraisal came in at $230k. Granted, it was built in the mid-80s, but still.

Seems to me like people used to figure their house was worth a bit more than they paid once complete, but things just don't look like they add up like that. I feel like I'd be spending far in excess of the end value.



I could see myself trying that if I were single.

You should be having that problem. I'm glad you finally are. Building custom right now is a ****ing horrible idea unless you shit gold and piss oil.

Building was a cool fad in the early 2000s, then some really bad shit happened, now there are a bunch of cool houses available and great prices.

 

[SAD]

i have an opinion on this subject matter, but am not going to post it.

 

[abqtj]

i have an opinion on this subject matter, but am not going to post it.

wimp

 

[BobKid]

Just start with a 2 bdrm barndominium on a nice piece of land and build the house later.

 

[SAD]

wimp

 

[Justin]

i have an opinion on this subject matter, but am not going to post it.

I won't be able to sleep tonight.

 

[SAD]

I won't be able to sleep tonight.

benedryl?

 

[JLS]

Just start with a 2 bdrm barndominium on a nice piece of land and build the house later.

Make the barndominium nice enough and I'd probably never get around to building the house.

 

[wct097]

Just start with a 2 bdrm barndominium on a nice piece of land and build the house later.

That probably would cost me $200k.

 

[BobKid]

That probably would cost me $200k.

Sounds about right depending on level of finish on the living space. Then once you build the house a couple of years down the road, it'll become your home office, guest quarters, shop, and barn.

I've got several friends who did it this way. One actually rents out the living space and uses the income to offset his mortgage.

 

[wct097]

Sounds about right depending on level of finish on the living space. Then once you build the house a couple of years down the road, it'll become your home office, guest quarters, shop, and barn.

I've got several friends who did it this way. One actually rents out the living space and uses the income to offset his mortgage.

If I drop $200k on a barn, all I'd be able to afford in a couple years would be a nice double wide.

 

[Road Head]

If I drop $200k on a barn, all I'd be able to afford in a couple years would be a nice double wide.

If you could find a nice chunk of land with a livable house on it, that you could eventually subdivide and custom build, that would be ideal.

 

[FinlayZJ]

Can you find a piece of land with a ranch or something smaller than you want for cheap? Buy that and then add on or pop the roof and add a second story.

 

[Road Head]

Can you find a piece of land with a ranch or something smaller than you want for cheap? Buy that and then add on or pop the roof and add a second story.

Two houses on my street are getting that treatment. 1960's ranch'ers on the lake. Both of them are getting massive additions in the form of a "snout" garage, second stories, and also adding on to the back. The are basically taking turning the rancher into a "T" with the original house being the "l".