Builders, cost per square foot?

[joey2665]

Originally Posted by Momofthreema

Thanks Everyone! I agree that it doesn't seem to make sense unless you have money to burn. If you need a mortgage, there's no way that the house would appraise high enough at those rates to pass the appraisal contingency.

It's too bad, because we like the lot. But, it seems like waiting for an existing re-sale is the way to go.

I really appreciate the discussion!

Again appraisal is about location. If the location warrants you can spend 300 per square but if it doesn’t you are correct you can overbuild for a neighborhood and not be able to get a mortgage.

Without us knowing the location you are considering it’s hard to give you an opinion based on your situation


Sent from my iPhone using Winnipesaukee Forum mobile app

[Momofthreema]

Originally Posted by joey2665

Again appraisal is about location. If the location warrants you can spend 300 per square but if it doesn’t you are correct you can overbuild for a neighborhood and not be able to get a mortgage.

Without us knowing the location you are considering it’s hard to give you an opinion based on your situation


Sent from my iPhone using Winnipesaukee Forum mobile app

I did the math, at 300/sq ft we would be over built by more than 100k in a neighborhood that maxes at 600-ish...so it totally doesn't make sense

[joey2665]

Originally Posted by Momofthreema

I did the math, at 300/sq ft we would be over built by more than 100k in a neighborhood that maxes at 600-ish...so it totally doesn't make sense

That’s too bad.


Sent from my iPhone using Winnipesaukee Forum mobile app

[Formula260SS]

Originally Posted by Momofthreema

I did the math, at 300/sq ft we would be over built by more than 100k in a neighborhood that maxes at 600-ish...so it totally doesn't make sense

That's really where I was going with my "calculations"....sorry to hear that. Just make sure your not missing something that swings it your way

[Susie Cougar]

Originally Posted by Momofthreema

I did the math, at 300/sq ft we would be over built by more than 100k in a neighborhood that maxes at 600-ish...so it totally doesn't make sense

If I remember correctly, your original post said that you wanted to spend $350,000. At $300 a square foot, you could only build a 1000 square-foot house, because you still have to buy the lot. And I’m not sure anybody lets you build anything that small anymore.

[Formula260SS]

I'm looking at a new construction listed in Londonderry, $699,900.00 for 3245 sq/ft, been on the market for 82 days which is kinda weird.

I know good lots in town if you can find one is 150K, that gets the house to $549,900 which equates to a sq/ft price of $169.50

Even if the land was free it rolls up to $215.68 sq/ft

Yes for some reason your way better off finding something already built

[garysanfran]

You can look up current for sale and past sold properties, new construction spec and resale and it will tell you value/ sq. ft. Although that may include land.

[TheTimeTraveler]

Originally Posted by Formula260SS

I'm looking at a new construction listed in Londonderry, $699,900.00 for 3245 sq/ft, been on the market for 82 days which is kinda weird.

I know good lots in town if you can find one is 150K, that gets the house to $549,900 which equates to a sq/ft price of $169.50

Even if the land was free it rolls up to $215.68 sq/ft

Yes for some reason your way better off finding something already built

Is that the new house right up next to Interstate 93...?

[Formula260SS]

Originally Posted by TheTimeTraveler

Is that the new house right up next to Interstate 93...?

no it's in a desirable southern part of town about 5 miles from exit 4.

[Momofthreema]

Originally Posted by Susie Cougar

If I remember correctly, your original post said that you wanted to spend $350,000. At $300 a square foot, you could only build a 1000 square-foot house, because you still have to buy the lot. And I’m not sure anybody lets you build anything that small anymore.

We would bump up our price range to build, just so we could have exactly what we want in a house, so the house would be about 2000 square feet(so a 725k house in a neighborhood that maxes at 600k). Im super conservative with finances, so we would like to buy in the 400k range, but after looking at our desired area, we are going to have to bump up to get what we want.

Again, it just doesn't make sense to build where we're looking. We are much better off buying existing construction than trying to build in this high flying market. I really appreciate the help, and now I understand why a lot in a desirable neighborhood might sit.

[Biggd]

Originally Posted by JEEPONLY

Consider replacing two existing buildings- each 40ft. x 40ft.:
#1- Basically, a garage- standard height.
#2- Cottage- year-round use/two interior walls/12 ft. ceiling/nothing fancy (paneled walls/vinyl-plank flooring) w/6 x 40 screened-in porch (not over poured basement).

All the "guts" are in the basement- hot water hearer, furnace, well pump- so no rebuild cost, there, in my request.

I'm asking this in view of the fact that many numbers have been tossed around in this thread, but I'm not looking for lot clearing/grading or well digging- just today's prevailing per sq. ft/ cost (or total price estimate) to build (rebuild) each building.

Thanks for your thoughtful and knowledgeable responses.

The house across the street from me, a 30X40 A frame built in the 60's was purchased a few months ago for 550K. The women was going to tear it down and build a new house but builders were telling her that could take two years.
So she decided to gut and rebuild the place. She told me she got an estimate of 260K but as of a week ago she told me that price has gone up 70K and that doesn't include a new septic which it needs.
The place is going to be about 1600 sq ft not counting the walk out unfinished basement.
I think she's going to have 400K into the rebuild by the time it's finished and it's still an A frame.

[JEEPONLY]

Originally Posted by Biggd

The house across the street from me, a 30X40 A frame built in the 60's was purchased a few months ago for 550K. The women was going to tear it down and build a new house but builders were telling her that could take two years.
So she decided to gut and rebuild the place. She told me she got an estimate of 260K but as of a week ago she told me that price has gone up 70K and that doesn't include a new septic which it needs.
The place is going to be about 1600 sq ft not counting the walk out unfinished basement.
I think she's going to have 400K into the rebuild by the time it's finished and it's still an A frame.

Thank you. Very helpful!
Are talking Mass. or Meredith?
Funny- I'm talking about 60's buildings!

I know you can't know, but I'd be interested to find out how much the current building is insured for.

[Biggd]

Originally Posted by JEEPONLY

Thank you. Very helpful!
Are talking Mass. or Meredith?
Funny- I'm talking about 60's buildings!

I know you can't know, but I'd be interested to find out how much the current building is insured for.

Meredith, just let me say that she is sparing no expense. They are doing a fantastic job but it's still going to be a million dollar A frame when done.