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Scratch estimating cost to build a house
| April 30th, 2015 at 3:45:05 AM permalink | |
| AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18210 | First, the backstory. The neighborhood I live in has an alley behind the main street. Back about 1900 the lots were full-depth, meaning a huge back yard. Eventually people either sold off the back half or built smaller houses to rent to the mill-hunkys in need of inexpensive living. I live in one of the mill-hunky houses. The lot in front of my place is vacant. Has been since forever according to the neighbors as it burned way back. Current owners bought the lot in 1976 per the county. This past week a note came erroneously to my mailbox and another is posted. Note says the lot is a vacant eyesore with taxes unpaid. It is not an eyesore, the neighbors mow it, but taxes are not paid. I plan to call the county today to see if it will be placed for sale. It is assessed at less than $2,000 with houses on it probably topping out at $70K. So I think bidding for it will be minimal if it goes to bid. I am hoping I can buy a tax lien or something if I move forward. What I need to know is, does anyone here know any back-of-an-envelope ways to estimate building costs? IOW, how many $$$ per square foot for a basic basement, two-floor place? I have asked and to get custom plans will be a touch over $500. I just want to see if it can be built at a cost to be a viable rental. The President is a fink. |
| April 30th, 2015 at 6:04:41 AM permalink | |
| Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | Ofcourse you can.... and so will any other successful bidder...so you might as well gain benefit from all the noise and trucks and dust. Local library perhaps or local Barnes and Noble has all these estimating sq foot costs by region and that should be a start. Internet probably a shorter trip. Why let something be built close to you by someone else.... you build it! Remember though... there is usually a period of redemption after a tax sale or atleast after it goes to lien. Wherein the former owner can come into court with all the back taxes and penalties. Don't start building until that date has passed. Construction Estimator - 2015 Craftsman National Estimator. www.bnibooks.com/National-Estimator(252) 379-1332 2015 Craftsman National Estimator. In Stock, Fast Delivery, Order Now! 2015 RS Means Cost Data Estimate Building Costs | Craftsman-Book.com Craftsman-Book.com Download all 11 of Craftsman's 2015 estimating costbooks. Only $118.50 Spend Less Time Estimating & More Time Building with Sage Estimating. |
| April 30th, 2015 at 8:28:20 AM permalink | |
| kenarman Member since: Oct 24, 2012 Threads: 14 Posts: 4515 | Construction costs vary by region and building quality. Building codes, particularly environmentaly friendly ones can make a huge difference. Having said that if you used $125.00 / sq. ft. as a starting point you would probably be in the range. "but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin |
| April 30th, 2015 at 2:38:30 PM permalink | |
| beachbumbabs Member since: Sep 3, 2013 Threads: 6 Posts: 1600 |
Off the top of my head (not knowing that much about your life/income/dependents/plans), why not build exactly "the house you always wanted" and rent out the mill-hunky one once it's done? If you're living exactly where you want to be, and can control building costs and have design control...I envy you. FWIW I have a dream house built in great detail - it's what I do to get to sleep when my brain is buzzing about something else. Never doubt a small group of concerned citizens can change the world; it's the only thing ever has |
| April 30th, 2015 at 2:48:03 PM permalink | |
| AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18210 |
A few reasons. One, it would *not* be the "terminal house"/dream house. Various reasons, but it boils down to not enough ways to make side income from it in this location. The mill-hunky house is exactly the right size for one person. The unit upstairs pays my bills. And I just got it the way I want it. Then there is the thing that a lot of the remodel work has shall we say, "character." Meaning I know how to make it work right, but a stranger living here is going to break things and complain. For example, shower door is tricky to open because the house is not in square. You have a good thought, but the other lot won't make it work. My other hope is if I can get the lot that the town gentrifies. Robert Morris University is near and they kind of are trying to make this a "college town." That won't really happen, but there is a nice downtown that could support more restaurants, bars, coffeehouse, etc. Then I could rent to the hipster market...... The President is a fink. |
| April 30th, 2015 at 2:49:19 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 | I'm always reminded of The Grass is Greener. A Brit family have a huge castle and only live in a very small part of it. I knew a guy years ago who had a 3 story Victorian, and lived in about 200 sq ft of it. He was single, the rest of the house just sat there. He rarely even went upstairs. I have a fairly large house and spend 95% of my time in two 10x10 rooms, the bedroom and the office. Modern appliances allow this. I can have a 23" flatscreen and a microwave and a computer in both rooms, where not that long ago a 23" TV was the size of a large dorm fridge. There were no micro's, you used the kitchen stove for everything. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| April 30th, 2015 at 3:00:16 PM permalink | |
| Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 |
Check laws and zoning. Land use map etc. Most profitable might be SRO construction Single Resident Occupancy (a defacto frat house) or build for the Yuppie/Gentrification. Or instead of building a Single Family Residence construct a twofer or a fourplex. |
| April 30th, 2015 at 3:07:15 PM permalink | |
| Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | From Tales of the South Pacific: "If you don't have a dream, how you ever gonna have a dream come true?" Bloody Mary. |
| April 30th, 2015 at 3:57:49 PM permalink | |
| AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18210 |
I would like to do a duplex but do not think I have the lateral width. I missed the call from the county and have to call back tomorrow to see what the deal is. I really wish I could remember the name of the complex in AZ that were threeplexes but one was really narrow and 2 or three floors, just to show an architect. Although that would be way too wide, I could make it two. possibly. The President is a fink. |
| April 30th, 2015 at 5:06:05 PM permalink | |
| Face Member since: Oct 24, 2012 Threads: 61 Posts: 3941 |
Lol, I just tried this, building a dream house in my head. Took about 2 and a half minutes. Can't tell if I'm unimaginative, or just simple XD Be bold and risk defeat, or be cautious and encourage it. |