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I’d like to build a custom home.
How do I determine the cost for materials,labor, i.e. oak flooring, cabinets, subflooring materials, etc.
How do I determine the quality of materials.
How do I verify the contractor is using the materials that are specified.
What is the average profit margin for a builder. What’s fair and reasonaable for a good builder.
I’d like to build an above average quality home at a fair price and not get taken to the cleaners. Thank you all for your help.
Replies
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Your kidding, right? You can't be serious with this post, you aren't are you? Or, is this, what do you call it, a troll?
*Hire a good builder you trust and you don't have to worry about any of this. Custom homes aren't a commodity like milk or socks; fair and reasonable are determined by the value you place in the workmanship and business professionalism of the builder. It almost sounds like you're starting out with a slightly distrustful eye to the whole project; if this is the case, nothing anyone can say here, or any builder can tell you, will not be jaundiced with some amount of suspicion on your part. You simply won't be happy or will always have nagging doubts; and, if you agree, then simply buy an existing house where the price is locally governed by the market.
*If you are going to "general" it. Get cost take-offs for everything being as detailed as possible i.e cabinet knobs, toilet paper dispenser, etc. All tasks being subbed-out, get quotes from those subs that you will want doing those specific tasks. Add everything up then add 15% and you should be close. (I'm in the nearcompletion stage of doing just that).You will spend an incredible amount of time running back and forth to the lumber yard, hardware store, etc. If you are going to have it built; visit as many houses similar to the design as what you are envisioning as possible. Look at their prices, calculate the price per square foot (deducting the lot price out first) to get the range of what to expect. In this situation, the range will (and should) be quite varied since there are "semi-custom" homes and custom homes that all look alike (at first glance). The semi-custom homes are just large "production" homes where they let the buyer pick out colors other features using "allowances".Best of Luck
*"I'd like to build a custom home."Like Fred implied, is that the question, or is it "I'd like to have someone build a custom home for me who is competent yet low cost?"If it really is as you phrased it, then the DIY answers are simple - your and your wife's labor is "free", prices and quantities come with self education (ask specific questions rather than "troll") which along with catalogs are also "free"
*Locally, in Ohio, New construction goes for about 100-200 dollars per square foot of home, if you have someone else build it.I imagine you may be able to do it yourself for less but you never can tell.Pete
*I get the feeling from a lot of people that they think having a new home built is like buying a car. They go from builder to builder comparing costs, and assume each builder will produce the exact same product.
*I will build your house for $5,988,799.00.
*if you live within 20 minutes of me, i'll build it for a lot less than mark...just as soon as i free up my schedule....send me a deposit so we can put you on the calendar....
*Find out what new homes are going for in your area then add or subtract for nice things. & there ya go! This is about where ya wanna be. Then check your bank roll and see if you can make the move. If you can't afford it then cut back on nice and size till you get to the price you can roll over for.
*Colin, I recommend you go look in a book store for building information. There are a few books out there that can give you most of the information you seek. A detailed answer can't be done on this forum.In general:I'd like to build a custom home.Find houses in your area that appeal to you, then find out who built them. There's your first point-of-contact.How do I determine the cost for materials,labor, i.e. oak flooring, cabinets, subflooring materials, etc. Your architect, or your design/build firm will provide drawings for your house...these drawings will show how much of this or that you will need. For example, 50 running feet of kitchen cabinets and 3000 sq feet of hardwood flooring. Now it's up to you. If you choose cabinets that cost $50 per foot your tab is $2500 for the cabinets; $300 a foot your cabinets will set you back $15000. You want standard strip oak flooring at $2.50 a foot or a nice exotic at $12.50? The list goes on and on and on and...Labor prices vary wildly by locale. Up here in Connecticut, excellent drywallers get $25-30 a board. My sister lives in Kentucky, down there they get $6-$8 an hour. How do I determine the quality of materials. Again, your architect and builder will help you through this stage...they should be able to get you in the right direction. Design centers and many supply yards cater to retail these days...I'm not talking box stores, I'm referring to stone yards that now have high-end displays of various stone and tile, etc. You go, you look, you do the "touchy-feely" (with the product), you choose, you pay. Beware of "cost allowances." Insufficient allowances are one of the leading reasons for blowing the budget. $10,000 may sound like a lot for kitchen cabinets until you decide you need to have the $300 a foot version. Ensure that whatever product you choose, it is listed in the contract or on the drawings. You want that, and your reputable builder wants that too.How do I verify the contractor is using the materials that are specified. You can either spy on him, looking suspiciously over his shoulder every chance you get, or you can choose a reputable builder that will install what is spec'd. I highly recommend the latter. You'll drive yourself and the builder nuts should you do the former.What is the average profit margin for a builder. Every locale is different, every level of building (tract vs custom) is different. What's fair and reasonaable (sic) for a good builder. How much do you think your builder should deserve for taking 6 months to build your most excellent, custom house? Again, every case, every locale, is different.I'd like to build an above average quality home at a fair price and not get taken to the cleaners. Do your legwork and choose your builder based upon the product he puts out and how you relate to him over a cup of coffee. Don't forget, it's your responsibility to be an above-average customer. You want professionalism from your builder, be a professional customer. Once you find a reputable builder that you feel comfortable with, when it comes time to talk money, then talk money. Un-asked questions will cause an already suspicious mind to go into overdrive. Communicate, communicate, communicate. Keep all the details in writing. Realize that every time a buyer takes a chance by choosing a builder, the builder is taking a chance with the buyer as well. You need to be able to afford the house you want to build. Have your finances in order, as well as realistic expectations. Don't expect the builder to short his children come Christmas because you screwed up on your part and you expect him to pay for it "because." If you make a mistake...omit a detail...change your mind during construction...and feel your builder should not penalize you for it, will you let him off the hook if he makes a mistake?Now head on over to the bookstore and git yerself an edjucashun.Good luck...
*Considering he probably wants $12,500,250.00 worth of house for that price, he might just hire you!heh heh...James
*Yet another unsuspecting fool has stuck their arm thru the bars of the Breaktime cage.........heh,heh, heh...shshsh...here comes another one, everybody be real quiet, and look harmless........
*I'll under bid mark and mike both and throw in the design work, but only if you don't 'help' build it.
*hee hee.... Hey Keith, I'm glad to see that you and I were thinking along the same lines there.
*Mongo's right on as usual.I hate square footage pricing. You can't do it that way unless you've got a pretty detailed shopping list and a set of plans, but no matter what, you can't compare apples to apples that way, and one builder to another is a range from George W. Bush to George Washington, if you follow me...Don't hire me if you're going to nitpick all the time--I've probably already built something for you...Keep it fun if you can,MD
*b WBA At Your ServiceNice work Mongo, thanks for taking the time.Mike, I'm cutting a check as I type. Do you have a figure in mind ?
*tim.... 20 minutes ?ok... 3000 sf custom....just for you...your lot...$599,000....14 months.turn-key........no landscaping...town water / town sewer...3 months lead on the design...we got a deal ?
*Mike,It's a wonder you can stay in business with such low low prices!!Pete
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I'd like to build a custom home.
How do I determine the cost for materials,labor, i.e. oak flooring, cabinets, subflooring materials, etc.
How do I determine the quality of materials.
How do I verify the contractor is using the materials that are specified.
What is the average profit margin for a builder. What's fair and reasonaable for a good builder.
I'd like to build an above average quality home at a fair price and not get taken to the cleaners. Thank you all for your help.