I am interested in any information available related to the square foot cost of new construction. I fully realize that the interior lavishness will be a major driver, but I am looking for the cost of a basic interior 1 story townhouse(carriage home) frame construction with a finished basement. The location is in the Mid-Atlantic region.
Any reference to Web sites, gov’t data, or builders data would be welcomed.
Replies
dblegl,
there is no standard that is reliable..
It's been asked a thousand differant ways but it remians constant..
Is the site accessable or difficult is there strong or weak local competition, build the house with SIP's ICF's or Stick build?
Build to minimum standards or or usable standards or with consideration for the enviornment?
How do local rules impact costs. labor rates? climate, standards..
What tolerances are called for . What schedule is allowed?
Thanks for the response. As I thought it is more complex than I had hoped for. I should explain that my main reason for getting some reference data is to prepare for an appeal with our State Tax Assessor. The state has come up with a per sq.ft. cost of $115.68 for a 2 story inside townhouse. To that they add for a garage, fireplace, heating/air cond. and any baths over one. They then add 28% to that for estimated cost of rebuilding today. Then from their records they have determined that in the past they have undervalued similar homes by 5% when compared to the selling price. Thus they then bump the total up by another 5%.
I have no explanation as to where they got the sq.ft. cost from, and what year was it developed, nor how they got the 28% markup. I was hoping to be armed with supportative data to present a logical refutation, and wanted to start with the sq.ft. baseline.
I should explain that my main reason for getting some reference data is to prepare for an appeal with our State Tax Assessor. The state has come up with a per sq.ft. cost of $115.68 for a 2 story inside townhouse.
Having been married to a property tax villan, you're going to be fighting an uphill battle since it often doesn't matter squat what the market value of your house is, depending on how the tax laws have been written. You'll want to talk with someone in the know as to how the tax is determined, not what your house is worth. To see what it's worth an appraiser would be needed since the value doesn't have to correspond whatsoever with construction costs in your area.
Personally, unless you inlist the assistance of professionals in this area, it's going to be bad for your stress level with not much good coming of it. My advise is worth not much more than it cost you, but tax assessors hear your story many times a day.
Beer was created so carpenters wouldn't rule the world.
State tax assessor? Does your state have a property tax? What state are you from? Your profile is empty. Only state I know of that has a property tax at the state level is NH.IdahoDon is right. You may be fighting a losing battle. Your only hope is to show that the basis of your assessment is different from that of others in the area or that they have used incorrect information (square footage, quality of materials, etc.).As long as people pay a value-based property tax (almost literally a tax you pay on someone else's buying power), there will be squabbles as to what the value really is. I guess we're all really sorry your house is so overvalued while your neighbor's certainly is undervalued.
The state is Maryland. The assessments are done by the state and the local(county) jurisidictions set the millage rate that they apply to the assessment value. The state is divided into three areas and each one is re-assessed every 3rd year.
My increase (40%) is not different than my neighbors. I have checked the re-assessment figures of all surrounding homes. All are virtually identical save for the gingerbread inside. The irony is that the house was built in the summer of 2005. I took title in July 05. Since then the market values (selling prices, not listings) has decreased in 2006 and 2007. The state provided me with their detailed data, county by county (including mine) that documents this trend. I would propose that since my original assessed value was established after settlement and history documents a general housing price decrease since then, then my assessment should go down, not up 40%.........The pause was for you to stop laughing.
I know it is tough to fight city hall. If it was 5-10% maybe I would drop it and not appeal. But if no one did, this could go on forever. My question to Breaktime was to arm myself with more ammunition. Attack from all fronts.
In any event thanks for your input and time. I find that I can always learn more by using many of the internet forums available and that the using public is always willing to share.
My personal experience with property assors is restrictedto NY, but, if everyones asssesment goes up, your taxes should remain the same. When they reasses don't they refigure the tax rate?
I too live in Maryland. Are you saying they have raised your value 40% from what you actually paid in 2005?
The actual increase of my current re-assessment is 38.97% over what I was assessed in July 2005. I used the 40% as an average as many of my neighbors ( in very similar homes) were re-assessed higher than I was. What my ultimate $ payment will be is a function of the Tax Rate my county will set per $1000 of value. Since you live in Md. and appeared to be puzzled you must live in a section of the state that will be reassessed in 2009 or 2010. Don't you just love it when a Democrat becomes Governor. Just think of what is to come when Obama or Hillary take over the big Enchilada.
i usally appeal 10-15 propeties a year,and to tell you the truth sometimes i don't have a leg to stand on.still win about 70% of them,the others i appeal next year:]
but if you bought a new home at x amount$ 3 years ago i would think this would be a walk in the park. when new it sold for all it was worth [builders don't make much money selling under market] then you only have 3 years of market trends to track,if the market has went down so has yours.went up,sorry.
i know they hear all the strories,but come on who cares what new cost are,your walls aren't new no more so there has to be deprication figured in. as a buyer do i want new or used for the same price.
go in there and kick there but,and what i always like to think about is that guy your talking to probably rents a trailer on the outskirts of town because his 9.00 a hour job with the state it's all he can afford.don't be intimadated by the property tax man,irs yes,but not property tax. larryif a man speaks in the forest,and there's not a woman to hear him,is he still wrong?
You can try some of the square foot cost books. I know R.S. Means puts one out, but it'll only get you a very rough idea.
http://www.buildsense.com/cost.html
CaliforniaRemodelingContractor.com
Nobody said "Welcome" yet seeing as how this is your first post, so welcome to BT...
I'll contribute to the hazing before somebody suggests the search function and give a 'straight' answer for my own construction...
I try for less than 5 cents per square foot on my sheds, nearly 100% recycled material (only a few % of nails are recycled), even fuel for the backhoe is recycled.
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Edited 3/6/2008 11:16 am ET by junkhound
It would appear that your product line may have been subject to the many foreclosures resulting from the sub-prime mess. Don't be disheartened though, Hillary will come up with a new Federal Program to house many of Obama's faithful and your inventory will be snapped up. Don't sell cheap though. At least get 4 cents per Sq. Ft. LOL
so what does that work out to???0.000005cents /hour for your labor.
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"After the laws of Physics, everything else is opinion" -Neil deGrasse Tyson
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If Pasta and Antipasta meet is it the end of the Universe???
hour for your labor
I build sheds instead of jog or run on a treadmill <G>
Dude.
=)Naive but refreshing !
You should be able to do that for somewhere between $90 and $180 per sf depending on features and finishes. Try HomeTech Online estimating software if you want to get closer than that.
m
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"You cannot work hard enough to make up for a sloppy estimate."