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Construction prices are almost impossible to generalize. It probably will depend most on your market and the trim level/features required. Size affects price per sq foot too. In most cases the bigger the house, the lower the cost per foot. Not always though. That doesn't help much does it?

The work you do will obviously affect the final price, but remember it will affect the product too! You will have to sell the house at some point, so make sure you do things right.

Regarding subs; you NEVER get what you pay for. You always get more or less than you pay for. There is no rule about who to hire. You might be best hiring the lowest bid, or the highest bid. The best thing to do is get a feel for how you think you will be able to work with the sub, and ask around to see if they are reliable. Get it in writing. Make sure they have liability and workmans comp or eliminate them completely. If they get hurt at your site and they don't have work comp, you could lose absolutely everything.

I'd suggest building every 2 years because of the tax change that allows you to keep capital gain on your residence every 2 years (consult with your tax advisor). Though this might be daunting for some people, I can think of no other way to make money without being taxed. It's a great deal and I would think it will have to change at some point.

If you are a relatively intelligent person with some understanding of the building process, and perhaps the most important: the ability to make decisions (you'd be amazed at the number of successful people that can't!) you should definately build your own home. And the second one you build is even easier.

Around here it would not be hard to build a house for $80 a square foot. That's not a bare bones house either.

Finally, you will spend more than you plan to. 5% at least. Before you panic though, remember that if you love your house you will tend to stay home more (that saves you money).

Good luck and feel free to email if you want.

Bill

New home construction
Home Improvement
Replies 8 Post by bsmith