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My family and I hope to build a modest 3BR, one story with a walk out basement – about 2000 Sq ft. We can’t seem to get a bid for less than $350K, which is well above our budget. We live in rural western Maine. (Is there a non-rural Maine?) Are we being unrealistic concerning housing costs? We already own a lot, which we’ve improved.
Thanks,
Jim
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Define the term "modest". I'm not in the new home buildin' business, but $175.00/square foot doesn't sound modest to me. Is the site real remote or something? Is electricity available? Are there material suppliers within 20 miles? I'm thinkin' I could build a pretty nice shack for that kind of dough.
*I have to agree with crazy legs. $175.00/sq.ft. sounds pretty high for a "modest" single story excluding a lot. I build 1700 to 2000 sq.ft. modest homes here in Wisconsin for around $105K to $135K with a lot. I know it's not the east coast where everything seems to be more expensive, but that seems to be out of line for "modest". I think you need to evaluate some of your decisions on some of your interior finishes and fixtures. Or you may just need to get some more bids. Good luck!
*.......is it a box 28' x36' two stories, or is it a 72' ranch...lots of site work ?...how are you getting to meet the prospective builders ?do you live in the town you want to build in?what are you specing for interior ? does it include all finishes, appliances, entertainment systems ?what ya got?
*Unless your site work is astronomical it sounds like your being taken to the cleaners. Is this in line with other homes appraised in your area. What is the appraised cost per square foot for your construction loan. If your doing this out of pocket get your plans appraised as a lender would do. This might cost you a few hundred but then you will know what cost you should be paying. I'm in the process of constructing a 4000 sq. ft. rambler outside Washington D.C. at cost well under $100 sq. ft.And this area is among the higest in the country. Good luck.
*Jim,Thanks for the reply. We're not planning anything fancy. Our original plan called for a metal roof (nice to have in Maine)and 9' ceilings in the first floor for some transom windows - but after some sticker shock, my wife and I revised our sights. Our most recent plans were pretty basic, (simple roof, nearly square footprint) but not bare bones. It did include appliances (not Sub-Zero-is), but not entertainment stuff, and so on.Thanks,Jim
*Mike,Thanks for your note.Our lot is sloping and hence a walkout basement under one story. Some site work. We've already brought in power and had a well dug. Test pits showed no ledge to blast.We live in town, and know all of the local builders. I dunno.Jim
*James,We hadn't thought to have our plans appraised (a good idea), but I don't know if that would change a contractor's bid. We had hoped for around $100/sq ft cost.Thanks for your help.Jim
*Are there other people in your area who have recently had work done by the local contractors? Would it be feasible for you to check the public records for the work done and to contact those people for "reference" and quiz them on their SF costs? I can go right to the property appraiser's data base with my computer and get current (almost) market value, last sale price, taxes, etc. I can check permits, current and past just by knowing the address. A little research can give you negotiating power.
*J...The price seems very high unless you are not telling us about expensive floors, appliances, cabinets, plumbing fixtures, fully finished basement that you are not including in your square feet...Tell us more and or get a breakdown of costs from one of the builders...What about porches and decks and stone work and sidewalks and patios and paved driveways and landscaping budgets...Around here a custom 2000 foot home complete will cost you 100 to 200 per foot.near the stream,aj
*...Jim... western Maine ain't exactly the gold coast.. sounds like a 32' x62' or so with a walk -out.. one floor.. septic system,, site workappliances and flooring ... paint .. turn -key..I get the feeling the local builders don't build enough new houses.. or they're so busy they're putting you off..Just from what I read here, I'm guesing you just haven't met your builder yet.. but when you do he'll probably do a great job for $200K..And if you can't get it built for that now... wait 'til late summer.. when they're looking to hole up for the winter...if they can get a weather tight shell by Thanksgiving , they'll finish it up when it's cold and they want the indoor work..You're standing in the middle of spring brakup right now.. and most of the commitiments are all made..b but hey , i been wrong before
*Jim, Another thing you can do to check pricing is get quotes yourself. Go to flooring company pick out flooring and get quote. Same for pricing appliances. Give your plans to local contractors and get quote, like dry wall, electrical, plumbing, painting, foundation etc. As many as you can and see if coming close to what AC is quoting you. If a wide difference than you are being taken to the cleaners. I do not recommend that you try building it yourself but you can check pricing.
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My family and I hope to build a modest 3BR, one story with a walk out basement - about 2000 Sq ft. We can't seem to get a bid for less than $350K, which is well above our budget. We live in rural western Maine. (Is there a non-rural Maine?) Are we being unrealistic concerning housing costs? We already own a lot, which we've improved.
Thanks,
Jim