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I’d like to see some discussion on square foot building costs for houses. For example what is included in ‘hard costs’. Also when I see a figure such as $100 per sf. does this include the entire footprint of the home or only the living area? Measured to the outside of the walls or the inside? It would seem that for a number such as this to be meaningful it would need to be applied or calculated the same everywhere. Any thoughts? How is it done in your area?
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All space inside Main body of house. No porches, garages, decks etc.... Measured from the outside of the foundation.
Here in Massachusetts we're coming to the opinion that 100 dollars doesn't make it anymore. That figure has been used here for 10 years!
*Greg,There is no standard way to measure sq ft. In most of new england (i'm in RI) we use the method Jon described.In FL they include the garage.... and then qualify the number by saying "2000 under air" meaning that's the living area.I've had a few discussions w/ FHB editors about how they consider it when they do sqft prices of the homes profiled in the magazine. I propose we (all construction professionals) begin pricing homes by the pound. Or perhaps by the cubic foot. That'll keep everyone on their toes.When I'm asked by potential clients how much I build homes for I usually respond "between $50 and $200 / sq foot" And that's so. OR I respond to the same question, "$8 to $12 per sq foot". That's the way I price my fee to construct a home.I teach Residential Construction Technology for real estate appraisers as part of their continuing education requirements and they always push me for square foot pricing information.Every home is different. They just want to quantify their job to make it easier too. Quick and dirty sq ft pricing is a perenial problem and it will always confound builders and clients.Mike
*Jon,I'm in RI and people still expect $75/ft. - Our 10 year ago pricing. Just when I thought we might catch up to MA you broke the 100 threashold. I'll bet you're busy too. Everyone I know in eastern MA is swamped and see no end.
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Thanks for input. I'm still listening if anyone else any info from their area. It does seem a bit confusing and it is always the figure people ask for when pricing new construction.
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I'm in the midwest(northeast Iowa),$65-$90/sq.ft. here.We also use the outside dimensions of the living space. Alot of the houses I build are sold as spec. houses or turnkey,so this also includes lot price,sewer,utility hookups,etc. Alot of variables in pricing a house this way,depends alot on cabinet choices,floor coverings,siding & shingle type,etc. What we do is put in allowances for these items,so a $95,000 house may end up at $110,00 by the time the customer decides on all the choices available to him(her).
*Why don't we buy cars buy the pound wouldn't that make about as much sense????? All of these are base price no options. >........CAR...........Weight....MRSP.....$PER LB.>Daewoo Lanos SE .......2447....10,600...4.331834>VW Beetle GLS..........2778....17,900...6.443484>Chev. Suburban K2500...5694....29,739...5.222866>Pontic Bonneville......3587....29,880...8.330080>Corvette...............3307....38,197...11.550347>Lincoln Continental....3868....38,430....9.935367>Cad. Deville Concours..4063....43,230...10.639921>Cadilac Escalade 4WD...5572....45,875....8.233129>Mer.-Benz S 600 V......4960...134,230...27.0625>Average cost...........................$10.69 per pound
*I agree. Like I noted above lets price homes by the pound.By the way Fred, are your car figures correct? Looks like Daewoo's a bargain
*Fred,No kidding around, I think your system is brilliant and reliable!Lets start a "mass" movement in ballpark home pricing!!!Have a good day,Jack : )ps Do up the pricing for homes...
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I think weighing all the pieces in the house is another good use for the new guy. Just think all he will learn putting every piece on the scale. let's do it. Rick
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Mike, The prices are current from the Edmunds Car site. Wouldn't a better bargain be for my local Mercedes-Benz dealer to sell me the S600 for $53,220 based on the $10.69 per lb average.
In fact I wonder what a new Ferrari weighs???
*I suppose you could charge a client anywhere from 50 to 200 bucks a sq ft. It al depends on what is inside and what improvements need to be done on the outside. But if it helps much, some basic rule-of-thumb costs are as follows: (National average as found in 1999 National Construction Estimator from Craftsman Books.)Construction Cost Index for New Single Family Homes 1998 3rd quarter 70.22 The figures under the column "$ per SF of Floor" show construction costs for building a good quality home in a suburban area under competitive conditions in each calendar quarter since 1981. This home is described below under the section "Residential Rule of Thumb." These costs include the builder's overhead and profit and a 450 square foot garage but no basement. The cost of a finished basement per square foot will be approximately 40% of the square foot cost of living area. If the garage area is more than 450 square feet, use 50% of the living area cost to adjust for the larger or smaller garage. To find the total construction cost of the home, multiply the living area (excluding the garage) by the cost in the column "$ per SF of Floor."Construction costs are higher in some cities and lower in others. Square foot costs listed in the table above are national averages. To modify these costs to your job site, apply the appropriate area modification factor from pages 12 through 15 of this manual. But note that area modifications on pages 12 through 15 are based on recent construction and may not apply to work that was completed many years ago.--------------------------------------------------------------------------------Deduct for rural areas 5.0%Add for 1,800 SF house (better quality) 4.0 Add for 2,000 SF house (better quality) 3.0 Deduct for over 2,400 SF house 3.0 Add for split level house 3.0 Add for 3-story house 10.0 Add for masonry construction 9.0 There you go,Pete Draganic
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I like the by the pound idea especially here in Florida where we build with masonry walls. We could start filling all the cells with concrete instead of just those with reinforcing. And since most of our market is for retireres on fixed incomes maybe we could get some kind of government assistance program where they supplement a certain $$ per pound. Maybe then construction workers here could make a living.
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We all think too small. I've wondered when the time will come where a customer (home owner, tenant,etc.) pays the contractors the way an actor, musician, etc. is paid each time the "product" is used. Put a coin box on the front door, a fixed amount each year? This sounds far fetched, but I'm sure someone smarter than me is figuring out how to make this work. I'm sympathic to contractors, I think their work is much more valuable than entertainers' or lawyers'.
*Few actors earn residuals and at any given moment 95% are unemployed. This you would wish on carpenters?!
*What is the price range per sq.ft. for an unfinished basement , 1 12' garage door,1 small door,8 ft.6 in top of concrete to bottom of truss.
*SteveThe big expense comes in getting that new unfinished basement under your exiting house. Then again if you want a basement FINISHED about $40.00 sf should be close. Thor
*Sean,I think we have to start the "free estimates cheerfully given" folder next....What do you think?Free Estimates....Boy did I get tired of doing that in the boom times of the late eighties....Topic Independence Time,Jack : )
*Mike: In an engineering office, we got into a silly train of thought for a few weeks and (in-house only) reported all cost as $/pound. From 10 to 5,000,000 gallons, tanks cost about $1/gallon. Most packpacking gear is $50/pound: Stove, 1 pound, $50; sleeping bag - 4 pounds, $200; tent - 5 pounds, $250. Calc'd it for a house and it was a right about $1/pound. Of course most of the $ was in plumbing, electrical and other 20th century bits while most of the pounds were in the foundation. So you could start answering, "Between 70 cents and $2/pound to build your house." -David
*Mike,Potential customers have asked me to give them a sq/foot price for remolding, I always tell them that this is not possible, is there a way to figure out a number to work with for gutremodel work, for example? thanks for any help.
*It's called RENT.I know several developer / contractors who build to own and rent out. They self finance and after 10 or whatever years it takes to 'pay-down' they clean-up.
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I'd like to see some discussion on square foot building costs for houses. For example what is included in 'hard costs'. Also when I see a figure such as $100 per sf. does this include the entire footprint of the home or only the living area? Measured to the outside of the walls or the inside? It would seem that for a number such as this to be meaningful it would need to be applied or calculated the same everywhere. Any thoughts? How is it done in your area?
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I Chicago's northshore, remodeling costs are at the $150- / ft range. on additions/ kitchens ( no cabinets, fixtures. But, Mike is right, quoting sq. ft. only makes problems.