I am curious as to the square foot costs of other builders posting here? Not including real estate, building nicely upgraded spec homes I’m coming in at about $62 per foot. I’m in a coastal environment with some extra requirements to meet local code, but they aren’t too costly. I’m building mostly smaller homes, less than 1,000 sqft, using some exterior stone work, tile entries, tile counter tops and tub surrounds, nice trim package, etc.. Pretty much just above average, quality homes, no OSB, all plywood sheathing.
I know how variable real estate prices and development are, but I’m curious as to the range of building costs.
Replies
"range of building costs."
It's a BIG range. We don't normally answer questions about sqft cost because of it and the wide assortment of variables. Often, the questioner is asking so he can compare to an estimate he has and we could booby trap a good professional builder with replies.
But since you are in the busines and talking about what you are coming in at as an after the fact assessment, I suspect it might be worth while discussing.
I built my own for about $40/ft, subbing out the Plumbing and heating for inslab and radiators on hot water. Paid my self about $8/hr for five months.
I built a saltbox camp for $58/ft about ten years ago - real economy methods used.
I built a high end one with some custom features and some economy features for about $80 a few years ago
I do mostly high end remodeling though and it comes to around $100 to 380/ft.
I'm finishing up a nice new one that we've been on for two years on and off, according to the customers budget. It will probably end up at about 130/ft or so but it is all nontypical stuff and the start-stop scenario didn't help contain costs.
Thanks for the reply. No, I'm a builder, though I appreciate your thoughts about someone trying to use info against their own builder. We do a fair amount of remodeling also, and as your post points out, there is a huge range of costs per foot there. I am just really curious as to what other builders are in homes, especially specs, on a per foot basis for the structure, only living area, not counting garages.
There are some ads in local nickel type papers advertising new construction, on your lot, for $35 per foot. I don't know how they can do it, and they're probably really not.
New construction, heated space, $180-$225; unheated $70.
Built my own digs back in '95 for about $48 a foot, subbed out the foundation, chimney/fireplaces, and sheetrock. $48 includes septic, well, etc. Did everythng else solo. Appraised last year for $232 a foot.
Per foot prices are so apples-to-oranges that it really is nothing more than a "gee whiz" number.
You are right, if you compare apples to organges. If you take similar construction and finish though you can use something like the R.S. Means books to make area adjustments as well as to adjust for extra bathrooms, etc.
In my experience builders that don't know what their square foot costs are for various construction types generally aren't very successful, or haven't been at it very long. In our local builders association everyone can tell you within two bits what their square foot costs are, and it is amazing how close we are all to each other, comparing apples to apples. I look all the time at what differences would be between using a sub for a certain phase as opposed to having my own crews do the work. There are certainly differences other than cost to consider, such as time, but times boils down to money anyway.
I am assuming that at $232 per foot it included real estate, which is the biggest variable accross the U.S. There are certainly lofts in major metro areas that go for over $600 per foot. I am only concerned with single family residences that were built as spec homes. If anyone cares to share what their square foot cost range is I would be very interested.
My $232 a foot is just for the structure.
I don't do spec homes, but the ones going up around here (CT) price out at around $95 a foot, land not included.
They're typically sorta-kinda 2-story colonial style, about 2400 sq ft, poured foundation, frame construction, own septic, own well, underground utilities, 2-car garage, wood floors downstairs, carpeting up, 2.5 baths, sheetrock (no plaster), oil-fired forced air heat w central air, laminated-type architectural shingles. Minimal trim..."standard" base and casing, nothing fancy. Basic cabinetry, basic hardware. Tiled bath floors, basic bath fixtures. Crappy windows...dual-pane, argon, but often not low-e.
Thanks for the info. I am on the other coast, and I know costs typically are less here than in the NE. Is that $95 sqft price a cost figure with no profit added in? Or is it the price that the structures are appraising at/selling for?
The private septic/well is obviously another variable. In our area for beachfront that doesn't have public water/sewer available the septic system alone can get quite expensive. Thankfully there is still a lot of oceanfront and bayfront property that does have public sewer and water.
If that $95 figure is for cost without profit figured in it is about $25 higher than this area for similar construction and amenities. When we built in a more urban area the development and impact fees per lot alone added about $7 a foot. In Alaska it was a whole different story, material was more, labor was more, but plentiful cheap land and almost nonexistent development costs.
We are building smaller spec homes now, aimed at retirees and vacation home buyers. We're in a market where anything under 100k is typically a very old place, so specs under that do okay. Of course our cost per square foot is much higher than if the home was two or three times the size, but we don't hold them long. There are a great many builders building expensive spec homes in this area, some sell right away, others take some time. Ocean front, bay front and lake and river front always sell relatively quickly, but the land is expensive enough to demand a more expensive home.
Thanks for the info, it is always interesting to compare costs in different area.
The $95 cost is the selling price.
Land cost varies out here a bit...but the guys building spec houses are typically building on lots that run for about $55-75K. These somewhat basic spec houses are going for about $300-360K.
A good lot can have a simply leach field for the septic. They can be had for about $4-5K. Galleys can run about twice that. If the lot needs an engineered system, it's a blank check type of thing. $20-30K. Ouch!
Wells aren't too bad. Most wells run about 180', a total package (drilling/casing/pump/pipe/tank) will be around $4000.
Not many spec houses go into town water/sewer. Most of these houses are going up on old wooded areas that are being bought, divided up into lots, and resold.
Our town has a pretty strong anti-sewer program going right now. They're trying to keep the State Gov't at bay in terms of not forcing the town to expand the current sewer system. The biggest reason is that if sewer lines go in, industry can start building in town. Septic costs have risen as a result, mostly paperwork and permitting hassles. We've been working on revamping the zoning regulations as well to curb, or at least contain, new residential building. Some good ideas, some not so good. The one thing they have in common? It'll cost more to build.<g>
We're having somewhat of a sewer battle too. A lot of the property in our area is waterfront, or close to waterfront, both salt and fresh water. There is a big movement to require that septic systems be even further from the water. On top of that there are groups pushing to make the setbacks from water even greater. In many cases it would make some lot's not buildable.
It sounds like your town is at least planning for inevitable growth. Things usually work out better that way.
You're right about increasing (I think it's everywhere) regulation and development costs driving the cost of building up. Some counties around here are having to charge high impact fees per lot just to be able to continue to upgrade water systems to be able to handle the new demands.
It sounds like your lot costs are similar to a lot of the metro areas in the Northwest. Closer to metro you pay 75k for a lot that might be only 4,500 feet, away from town you can get a third of an acre or more for the same money.
There aren't many spec houses around here above the 300k range. I know that homes back east are more expensive though. A cousin bought a house in Jersey about three years ago for 400k and it's already appreciated over 100k, according to her anyway. She says she could have the same home here for under 200k. With land costs somewhat similar, how much of the extra cost is going to the builders?
I worked on a 6' x 6' corner bumpout which cost the customer a bit over $30K......
...so.....looks like that worked out to be $833.33/ft sq.
Sounds reasonable...I'll be pricing all my remodeling work at $830/ft sq from now on!
Jeff.......Sometimes on the toll road of life.....a handful of change is good.......
OK just for giggles,
I'm building a timberframe home, I budgeted $50,000 for it and so far I'm on target. When finished it will be about 5000 sq.ft. Massive over built, using White oak, Black walnut, Hard maple, Cherry etc. So it should come in around $10 sq.ft.
Now to be fair, I'm recycling a lot of the millwork, hardware, heating, and plumbing. I'm evan reusing almost all of the wiring since it's armored cable in great shape and less than 15 years old. I did buy a few new windows but almost all of the old ones will be reused.
That's cheap alright. Figure your time at a reasonable rate and what does the square foot cost work out to? On every spec I look at our schedule, if my crews do more of the work it isn't just the cost of their total wage package. If we are busy enough that I could have had them working on another project and used a sub, then that has to be part of the equation. If a sub charges 5k to frame a house, and it would cost me 4k in total wage costs to my own crew, but I could have the crew scheduled on other work that would net the company 3k in the time that it would take to frame the house, then I'm really only paying 1k to have the house framed, or that is one way to look at it. I believe that many builders don't consider a lot of the true costs. You'll be in your place for $10 a foot, but if you had someone else do the work, what could you have made occupied some other way? Obviously you may be really enjoying the experience and wouldn't dream of letting anyone else do any of the work. For builders though there are a lot of considerations.
No fair asking Frenchy that question. His building his house beats the heck out of lifting weights or running IMHO. If I charged myself my desk job rate for building anything, it would be over $400 sq ft vs. < $1. My 'tiime' for "running" a marathon would be near a grand these days, - your choice on rate of pay or how LONG it would take me if there was incentive to finish (have to stop for a few brews and a nap you know).
Always like to throw a real low end into sq ft discussions discussions, esp on Sat nite. .
Cabin cost me <65 CENTS per sq ft. , no labor charges (FHB, Nov, 1990)
Luka's storage sheds may have come in as low as 5 cents sq ft.
Similar to Piffin, if I jack my own house up by Consumer Price index numbers to 2002, it was about $40 sq ft, zero labor included, but everything - all carpet, applicances, elec, plumbing, driveway, etc. included.
Have a few sheds myself that only $ cost was nails (< 10 cents sq ft) , everything else salvage. PS - they look it too!
My chicken house cost about $3.50 /sq ft. with free lumber. Dang I must be overpaying somewhere!