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esponet

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Discussion starter · #1 ·
well in our search for our little ranchette, we are thinking of purchasing this one land. its about 4.6 acres and has a 1900sq/ft modular home. we were thinking of buyig it and building a custom built home on the land.
i asked my father inlaw, since he is in the construction buss, but he never done custom homes, only remodels. he told me for about 3000 sqft home plan on spending about $450,000. and for a 6 car detached garage plan on spending about $50k.

any expert out there can shed some light if its really gonna be that much???
the property were about to make an offer is only $500,000 but with another $500,000 that would be a mill. and i don't think i would have that kind of financing.

btw yes we live in cal. so estates are expensive here.

heres a link to something were thinking about as far as the home
http://www.jtscommunities.com/index.php?mvcTask=community&id=403d2364378bd50612970d31bf19b872

"ponderosa" we want something like this.

heres the floorplan
http://www.jtscommunities.com/plans/102_rev2-1-06/images/102.jpg

thanks
 
#4 ·
Well I hope I can help a bit becuase my father and uncle own a high end new custom and remodling business as contractors. Pricing is tough because it all depends on what you want and knowing your area helps as well (we are located in Oklahoma City Oklahoma). Obviously riff sawn oak cabinets and granite countertops are gonna cost extra. I can tell you that with a good contractor the quality will be far beyond what can be found in a spec home. I would say your price range is close for a general cost but we have built homes that are close to a million that were under 5000 square feet so the sky is the limit.
 
#5 ·
You can get that much land for that amount of money in a lot of states BUT NOT IN CA.Bristol TENN is a nice place and the land is real cheap.I don't know how anybody can afford to live in CA.I go out there twice a month and it blows me away how much a small apt is let alone a house.Some states that is cheap would be,MO,IN,TN,OH AND i'M SURE THERE IS MORE BUT THESE COME TO MIND.
 
#8 ·
Esponet, we did exactly what you're thinking of doing, about 6 years ago. Here's how you do it.

The first step is buying the land, and getting as much equity in the land as possible. Once you've done that, the banks are much more willing to loan to you based on your equity in the land. You will be applying though for a construction loan, as opposed to a standard home loan, and construction loans carry a higher rate than normal home loans. So plan on probably about 1% higher than you would normally expect to pay. Also, construction loans are short term, when you're done, you refinance them into a standard 30 year fixed, or whatever standard mortgage you wish.

So, then the next step is getting permits to build. Hopefully before you've bought the property, you've talked with the local city/country planning department and confirmed that your lot is buildable. In some areas, this is a bigger deal than others. You will also want to find out what restrictions, if any, are in place for your lot. For example, is there water nearby? If so, you'll probably need to submit a biotic report. Is there extensive grading that would need to be done? If so, you'll need an engineering report and plan. What about drainage? You'll need a drainage plan. All of these will normally be necessary before permits will be issued.

If you've made it this far, you will also need architect drawings/plans. I know a great architect that does custom homes and is wonderful, contact me off-board if you're interested. She did our home and we love her work. Expect to pay $15-60k for plans through the permit phase. If you buy the pre-drawn homes, then expect to have an architect mold them for your local ordinances, and I'm not sure how much that would cost, just depends on where you're going to be putting it.

The actual hard home costs? Well, that also depends on where you are and the cost of labor, materials, etc. but I would say to plan on at least $150/SF for an average home, and upwards of $200/SF for a nice home. We did real hardwood floors, 2x6 framing, custom cabinets, granite, basically cut no corners, built for the long haul, and it cost us around $160/SF but I ended up putting in quite a bit of cash over and above the actual costs for additions that I decided I wanted after we did the original plans.

So, for a 3000SF house, $450k is not out of the ballpark, probably a bit on the low side I'd guess in today's market. You might be able to save some but it's hard to say.

I'm in Santa Cruz, not sure where you are, but feel free to contact me off-board if you want specific details, or if you're in the area and want to stop by for a cold one.
 
Discussion starter · #9 ·
hxturbo said:
Esponet,

I am California too and set to retire in a couple of years. Where can you get that much land for 500K? I wish I could help you with a price on the house.
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i live in sacramento ca. the one were thinking of buying is in wilton ca. (about 15min. away)

well, we talked with the city already. (planning and environmental). the said were we plan on building the house, there should be no problem. we do however need to remove the modular home after were done. the only restrictions we have on the land is that there are 3 vernon pool and we can't touch that area. but it should be ok. its on the last acre or so and we don't plan on building anything there, just a garden if any.
thanks for the help.

btw being theres a small house on it already, we plan on living in it for about 2-3 years. so that we could save up and hopefully have half of whats needed to build. just that might be hard, since were coming fron a 2600sq/ft 3 car garage and moving down to 1900sq/ft with no garage. i think i will man up and have to get atleast the garage built already.
 
#10 ·
I recently sold a custom Estate in Orange County. For California, the prices you are quoting are way too low for a high end custom home. The best way to get an idea is to go see a builder and get a quote for a house. You're going to be shocked. Trust me. Your garage alone will cost you double what you are guessing for that size. For the house, count on at least $250 sq foot and going to $400+ depending on materials. By the time you get done with landscaping and interior....who knows. But you need to get bids from at least 3 reputable builders first. It will be cheaper if you use their semi-custom plans versus having your own design. There will also be clauses in the contract for "unforseen circumstances" that can really increase your costs. If you add a pool and Spa with outdoor BBQ, the hardscape and landscape will run about $90 to $100 grand. Good luck and watch your wallet.
 
#11 ·
I spent twenty years in the custom home industry before changing careers. I've been out for 15 years so I can't be of much help on current pricing which, BTW varies by location, style of house, and how busy the contractors in your area are. I will say this. Since Katrina the price of all building materials has gone way up. My wife and I are remodeling an older home and I just spent 45 bucks per roll for two rolls of insulation and 14 bucks a sheet for sheetrock. Just a box of 8d gun nails for my power nailer (1000) nails which is not as many as you think once you get going, was 58 bucks. The tile the wife wants is nearly 4 bucks a square foot and the bathroom fixtures she bought set me back 700 bucks and the whirlpool tub cost just over 2 grand. :eek:

Oh am I going to get so even at Carlisle.
 
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#12 ·
esponet said:
i live in sacramento ca. the one were thinking of buying is in wilton ca. (about 15min. away)

well, we talked with the city already. (planning and environmental). the said were we plan on building the house, there should be no problem. we do however need to remove the modular home after were done. the only restrictions we have on the land is that there are 3 vernon pool and we can't touch that area. but it should be ok. its on the last acre or so and we don't plan on building anything there, just a garden if any.
thanks for the help.

btw being theres a small house on it already, we plan on living in it for about 2-3 years. so that we could save up and hopefully have half of whats needed to build. just that might be hard, since were coming fron a 2600sq/ft 3 car garage and moving down to 1900sq/ft with no garage. i think i will man up and have to get atleast the garage built already.
Click to expand...
Small world. I live in Wilton. Land out here has really climbed in the last few years. We moved out in 93 and for several years the values really didn't move. But the last 5 years have seen a lot of upward movement.

If you can get out here I highly recommend it; it is a great place, good people, and excellent schools.

Jody
 
#13 ·
Well, we will only be about 150 miles apart if I get my wife convinced to move to our property in Red Bluff. I have a small ranch 3 1/2 acres with a house with an attached gargage and a 6 car detached garage/shop on it. My folks live there now and I will own it outright when they want to move back to the Bay area. My wife wants to move to be near our kids in San Diego and I am trying to convince her that we shouldn't retire to where the kids are. That's why god invented airplanes. Anyway, I'm working on her and I told her I will tear down the house and buid her a custom home. I will be checking on costs per square foot as well.
 
Discussion starter · #14 ·
SS4Real said:
I recently sold a custom Estate in Orange County. For California, the prices you are quoting are way too low for a high end custom home. The best way to get an idea is to go see a builder and get a quote for a house. You're going to be shocked. Trust me. Your garage alone will cost you double what you are guessing for that size. For the house, count on at least $250 sq foot and going to $400+ depending on materials. By the time you get done with landscaping and interior....who knows. But you need to get bids from at least 3 reputable builders first. It will be cheaper if you use their semi-custom plans versus having your own design. There will also be clauses in the contract for "unforseen circumstances" that can really increase your costs. If you add a pool and Spa with outdoor BBQ, the hardscape and landscape will run about $90 to $100 grand. Good luck and watch your wallet.
Click to expand...
i guess, whats my inlaw is quoting me is a good deal, he is a general contractor/ architech. so i guess i could save alot by not having to pay for the plans. he told me what he quoted me would be the actual work done.

as far as the garden and pool, that is seperate. me and m wife were thinking that once done we could sell the modular home, (being that its movable i think) and that should pay for half the pool atleast. we are gona think this through and probably decide if this is something were gont to do. if so then were going to make an ofer.

camcojb

yeah we have been loking in the wilton galt area. we made an offer at this one 3100sq/ft ranchette in galt, but withrew it a couple of days later. and decided to look around some more, and possible give custom built a try.
 
#15 ·
Wow is it ever expensive to live and build in CA.

Heres a comparison for you guys, I am a custom home contractor in Wisconsin. I currently have a very high end home under contract and being framed right now. All brazilian cherry hardwood floors, granite tops , marble floors, 21'x16' screen in the theater and 36 reclining black leather seats in the theater. Plus just about any other high end option you can think of. 6 fireplaces, sunken whirlpool, cherry cabinetry...............All built on 6 acres that borders a 10 acre pond. The house is 11,000 square feet with a 2000 sq. ft. garage.

The actual contract cost for us to build him the house is 1.5 mil.

Now I am all for warm weather and oceans too, but man sometimes I think you guys are nutty to pay those prices.

Esponet, just be careful who you pick to build your new home. Their are a lot of shady builders out there ,(meaning everywhere in general, here too), it is very easy to get screwed by a contractor. It is even easier for a contractor to bury wording in a contract that can put the screws to you. Watch out for escalation clauses and such. An escalation clause will let the builder pass on increased product cost to you if the costs go up during construction. That may sound fair to some up front, but if you are dealing with a competent contractor, he got his prices for the home locked prior to construction, so his prices are not going to rise. We saw quite a bit of that after Katrina, contractors quickly increased the prices on homes, even though their prices never moved.

Good luck with your new home, it should be a very fun experience for your wife and you. If its not, you picked the wrong contractor.

Jeff
 
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#17 ·
Well, I can't say much about cost ... Living in CA, you guys are in a world of your own. I would have a heart-attack having any note for that much!!

Anyhow, I am building a house this year ... semi-custom. Basically took the Lowe's book, and fit the plans to how we wanted them. My brother is the general contractor ... shop's across the street from the house.

So far, the land purchase price was miniscule compared to the development cost ... $7k for 6.5acres ... $8500 for 450ft gravel lane ... $800 for 30" driveway culvert (that was cheap) ... $6200 for electrical service (still negotiating that one) ... $1000 building permits. Obviously, prices are different here ... but you can see that the land purchase price doesn't play much into the general scheme.

Current standing is a 2-bay 30x50 pole barn for $15k. We're pricing high to finish <$225k with 4000sf, 3-car garage (heated), and barn (heated).

Couple large areas we're finding to cut cost ... are in the contractor pricing. I'm going to fit up both my electric and plumbing utilities. Local contractors were costing $15k / ea for ~$2-4k materials. My labor rate is a lot cheaper, plus I know a lot of really good trades people that will work for $15/hr CASH.

Most contractors will talk (quote) prices/sf ... so far this has seemed bogus to me. Obviously the range is huge ... but legitimate ranges around here is $80/sf to $150/sf for a finished house. I found this about as helpful as the car dealership that won't put a CASH PRICE on the window.

Anyhow, one other thought on your remove ... replace the modular plan. Be careful, as you might be required to install current to code services. Biggest of which is septic (if you're not on a city sewer) ... this could cost large to dig up, and replace.

Oh well, lots of luck with your status ... I've been out of work a couple times, and I really would be in the hospital with a note that large sitting over my head. I don't know how you guys do it.

Neal
 
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Neal Wright
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