Building Your New Home

i asked how much YOUR home cost

not how much mine will cost

New home builds depend on the area you live and the budget you have to build. We have built three new homes in the past 14 years ranging from $350,000 to $750,000 depending on the State we lived in and the going rate for the same size home in that State. We got a deal in our new State for a 3500 sq. ft. home at $600,000 with tons more amenities than we could have done in the last State at that price. I upgraded everything I could to the highest end. A steal. Every place is diffferent.

2009-02-22 01:19:14 by Lady Cadilaq

This is a completely new build we did for a woman whose house was in such poor condition it left us with little other options but to deconstruct ...

My husband and I live in a home that will only sell if we list for $40K under market value. We don't want to sell for that low but need to sell in order to buy our dream home. If a builder could buy our current home for market value we would build with them for a house that is double the price of our current home. Thier incentive would be to make a sell on a $500k house. This happens to be in a new neighborhood where the house would be built and they still haven't had their first buyer (homes for sale since Janurary 1st, 2007). They're very motivated, that is why they have chosen to offer $90k in upgrades and perks.

Buyer beware!

2007-03-07 12:24:39 by MBA mom

Is it cheaper to buy a home or built a new one please? Let’s say you get the loan from a bank you buy the land and start building…

What do you know about building your new home?

Merci Beaucoup mes amis!

You've got it a little backwards. First you have to own the land you want to build on. The bank won't even think about loaning you money to build a home when they don't even know where you may build. Then if you are going to build the house yourself, you'll have to be able to prove to the bank that you know how to start and complete a home. This is called a construction loan. The bank will want to see the blueprints/plans for the house in order to evaluate its value when construction is complete. If you're going to have a contractor build the home, then he will have to be approved by the bank. And usually what will happen, the cost over runs will be about 10% to 15% above what you figured, because there's always some problems that arise. the one great thing about purchasing a home that is completed, you won't go through all the frustrations that pop up when you construct your own home. The builders today don't have the know how or expertise to build a quality building. If you're around the construction site, you'll hear "that's close enough" or "that's good enough" so often you'll wonder what kind of a house you'll end up with. I thought that Steve Doyle Builders in Lima, Ohio was a good contractor, but his company was entirely made up of poor construction contractors that were second rate on their best day! That was ten years ago and we're still waiting on them to come back and finish their "Oops" list! And believe me, they said oops plenty of times! I wouldn't hire them again ( or their contractors ), to build me a dog house! Lesson learned! That doesn't mean that your build wouldn't go well and on time. But it's just something you have to realize can and often does happen when you build your own house. Good luck with whatever you decide!

2010-05-07 16:17:34 by NANCYJ

My husband and I decided to build a new home in Killeen, TX since his job (the army) just relocated us there from Tennessee. I went down to Killeen and signed the paperwork this past Monday (5 days ago). They gave us a date to close on the house, which is June 3rd. They say they can build homes in as little as 60-75 days depending on the weather.
Well since i signed the paperwork last Monday, I was wondering if they even started building the home yet? I would just drive to go check it out but it's a lonnggg drive. My agent said she'd take pics occasionally and send them to me on Facebook, but obviously I don't expect her to do that for a long time and I don't want to harass her about it. I was just wondering about how long do they take before they actually start building? I'd imagine it would be soon if we're closing in 68 days. Any knowledge on the subject would be greatly appreciated! Thank you!
No, when we close on the house is when we officially sign on it and move in. She said they will start building as soon as the paperwork goes through, so i wanted to know how long that takes since I forgot to ask the builder.

They don't start building until you Close. I think you signed the P&S you don't own the property until the closing. then your builder can start. I would set up with the builder the closing date and see just when he can start building. From now to then will give him enough time to have the start date on his schedule for just after that closing date.
You said your having the house built. That means it's a custom home. They need to know the closing had taken place before starting on a custom home.
What you signed was a promise to buy. That allows the lawyers to do there title search and for the bank to get there paper work ready.
The builders will not build a custom home on property that you don't really own yet.

Sorry Nelly you have to wait.
GL

TSW
Builder 30 years.

2010-03-27 23:42:40 by nelly01756

building a new home. want to make a list of things to do to make sure we are not forgetting anything or just some ideas that we may not have ever thought of :0)! hoping to get some info from others that may have suggestions for a checklist as far as things to do: decorating, logistics of house plan, where to place outlets, etc.....help!

When building our house I tried to take into consideration that I intend to die in this house, and make sure that as we grew older and were less able to get around, we would still be able to enjoy our home. We put the master bedroom on the first floor and made the floor plan as barrier free as possible. We also made the doors slightly wider so if one of us ends up in a wheel chair, it would not be an issue to get in and out of rooms. We also set up an intercom system so we wouldn't have to scream to hear one another when on opposite ends of the house, and so in a slightly sneaky way, we can hear our children and their friends when in the basement.

2007-05-21 08:23:32 by curious07