I’m getting ready to put my condo on the market soon and shopping for a house a little further out in the country. One of the stipulations I’m looking for is a house that has a workshop building or land that one can be built on.
I’ve found a place that has an 1800 sf steel builidng on concrete slab in the back yard, which would be the shop of my dreams size wise. I’m trying to figure out how much a buildling like this would be worth as part of the proporty. Anybody know anything about these type of structures as far as how much they cost per square foot, etc?…
It looks like it has about a 40 x 45 foot print, 10 foot walls, rafters but no ceiling (other than the roof), it has one open area that’s about 40 x 30 and then two smaller rooms, one of which looks to have been set up as a spray booth with a fancy looking exaust fan.
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Do you mean a steel sided building like a pole barn or a structural steel building with steel siding?
The cost of steel siding has been going up over the last few years, as has everything else. Depending on how the building was constructed you could be looking at anything from $30 to $75 a square foot.
Ask your insurance agent to give you a cost estimate for coverage. Look up the property at the local property valuation administration. See how much it is worth on the tax roles.
Steel buildings are among the cheapest type of construction there is. My guess would be around $35 to $50 a sq ft. So that would put the cost of such a building at around $65 to 100k. Some of it depends on what it has in it. Plumbing? Heat? AC? I said cost though. Real hard to say how such an accessory building would effect the price of a residence. Could be somewhat above or below the cost to erect it. All depends on how desirable such a thing is. A realtor is your best bet. Do you have one to help you with the purchase? Granted, you gotta take what they say with a grain of salt since their primary goal is just to sell you something.... Other than that there is really no down side to having an agent as a buyer. Being involved with new homes I know of several that we deal with but more from the selling end....
BTW - I looked at your profile since building costs are regionally effected and lo and behold we live in the same city... Send me an E-mail and tell me more about where you are looking.... Maybe I know something specific about that area...