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Velvet
by swamp_fever2002. 05/02/24 06:48 PM
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8 registered members (BAR1225, sloughfoot, Ron A., Bronco 74, Holcomb, Hammertime7v2, Jotjackson, hallb),
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guests, and 0
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Key:
Admin,
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Re: building a house
[Re: jake44]
#1352574
05/18/15 11:17 AM
05/18/15 11:17 AM
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Joined: Apr 2007
Posts: 3,633 Gardendale
BigDalk
10 point
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10 point
Joined: Apr 2007
Posts: 3,633
Gardendale
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last time that I looked into this (about 2 years ago), I could do much better buying a home than having one built. I checked several builders and the cost per sq ft for what I wanted was higher than i could buy already built. Now, if you have the time to contract the work out yourself, you might could come out saving some money.
"The aggies are going to destroy bama" Burbank
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Re: building a house
[Re: jake44]
#1352585
05/18/15 11:45 AM
05/18/15 11:45 AM
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Joined: Dec 2012
Posts: 9,643 Pisgah Al
Bigbamaboy
14 point
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14 point
Joined: Dec 2012
Posts: 9,643
Pisgah Al
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Building Vs Buying.
Building: Get exactly what you want You know the specs and quality of components No surprises such as hidden damage, rot, etc Exactly where you want it.
Buying: Less or no wait Less stress Possibly less expensive Less to no work
Eli, Eli, lama sabachthani?
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Re: building a house
[Re: jake44]
#1352587
05/18/15 11:48 AM
05/18/15 11:48 AM
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Joined: Jan 2012
Posts: 9,826 North Jackson
ridgestalker
14 point
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14 point
Joined: Jan 2012
Posts: 9,826
North Jackson
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If you do your homework it can be worth it in a lot of ways.
"The Heavens declare the glory of God;and the firmament sheweth his handiwork" Pslam 19:1
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Re: building a house
[Re: jake44]
#1352595
05/18/15 11:55 AM
05/18/15 11:55 AM
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Joined: Dec 2014
Posts: 5,034 Northport, AL
Phil_Army
12 point
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12 point
Joined: Dec 2014
Posts: 5,034
Northport, AL
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You can usually buy more house for the money if you buy an existing home and remodel it. Get with a realtor and have them search for homes that are priced low per square footage. Typically you'd want to find $80/sq ft or lower. Probably a more solid built home from the 50's-90's that just never was updated, that's what I would do
Broker/Owner and Area Representative for 1st Class Real Estate 2018's #1 Real Estate Agent according to the Tuscaloosa News
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Re: building a house
[Re: jake44]
#1352609
05/18/15 12:13 PM
05/18/15 12:13 PM
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Joined: Jan 2005
Posts: 14,300 Hoover
Fattyfireplug
Booner
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Booner
Joined: Jan 2005
Posts: 14,300
Hoover
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I've done both.
I'd build again, but do none of the physical labor.
Contract everything out yourself and you can build and save $.
I may be wrong, but $30k equity on a $200k home won't get you out of PMI.
As for price for SQ/FT. I can't imagine building anything for $70/sq/ft. At that price range you're better off buying a dated home and updating it while you live there. Once complete, refinance with a new appraisal and get rid of PMI that way.
Character is not developed in moments of temptation and trial. That is when it is intended to be used.
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Re: building a house
[Re: jake44]
#1352637
05/18/15 12:42 PM
05/18/15 12:42 PM
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Joined: Mar 2005
Posts: 3,058 Central Alabama
WIDGEON
10 point
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10 point
Joined: Mar 2005
Posts: 3,058
Central Alabama
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Thanks to all of you for the advice...I appreciate,I feel like I can have one built for $70 sq.ft,but it's a tough decision,I'm worried more about where we (me wife,9yr old and 15 mo old)would stay while it was being built,but we will see I'm young 32,and wanna make the right decision You wont get a built house for $70 sq ft.
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Re: building a house
[Re: jake44]
#1352649
05/18/15 01:01 PM
05/18/15 01:01 PM
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Joined: Sep 2013
Posts: 1,265 Mobile al
Surefire1911
8 point
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8 point
Joined: Sep 2013
Posts: 1,265
Mobile al
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I would build. I also know I could come out ahead bc that's what I do for a living. Try finding a piece of property out of the city to build on so you don't have all the dumbass codes to follow. A man could go broke trying to afford all the straps required in mobile/baldwin county.
Wolves don't lose sleep over opinions from sheep
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Re: building a house
[Re: jake44]
#1352657
05/18/15 01:09 PM
05/18/15 01:09 PM
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Joined: Dec 2013
Posts: 1,162 Madison County
hgmike
6 point
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6 point
Joined: Dec 2013
Posts: 1,162
Madison County
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My parents finally built their dream house about 7 years ago. It cost them right around $167,000 when it was all said and done. Contract everything out yourself to find the best price. There's little things you can do that cut the cost like doing your own baseboard and crown molding, installing tile yourself in smaller rooms, and painting. All are relatively easy to do with a little know how and can save money. If you use a contractor talk to people he has built houses for. Their contractor walked off the job after the framing was half complete and left them in a mess at first.
God, Country, Corps, Family, and Alabama Football.
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Re: building a house
[Re: jake44]
#1352704
05/18/15 02:21 PM
05/18/15 02:21 PM
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Joined: Jan 2014
Posts: 4,915 Alabama
Cactus_buck
12 point
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12 point
Joined: Jan 2014
Posts: 4,915
Alabama
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Just FYI. If you plan on going with an FHA loan then it doesn't matter how much you put down on a house you have PMI for the life of the loan. This changed after 2013. So the paying 30% and recouping your insurance money is no longer an option. You could go with a different loan like a USDA or traditional loan. I know all this because I'm getting ready to do the same.
I believe the FHA loan was designed for new home buyers who couldn't afford 30% down. But new downside is the inability to get rid of PMI
Last edited by Cactus_buck; 05/18/15 02:26 PM.
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Re: building a house
[Re: dirtwrk]
#1352708
05/18/15 02:31 PM
05/18/15 02:31 PM
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Joined: Feb 2015
Posts: 298 AL
Beak_Buster
4 point
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4 point
Joined: Feb 2015
Posts: 298
AL
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Rember you get what you pay for at 70sq contact a reliable builder not DR Horton and stone Martin pm if you need some names Exactly what this says, you want to get a builder that does quality homes and not quantity homes. Also if you build in the city limits and have to get everything inspected the new energy codes are making homes cost a lot more.
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Re: building a house
[Re: Beak_Buster]
#1352725
05/18/15 02:48 PM
05/18/15 02:48 PM
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Joined: May 2015
Posts: 409 alabama
tikkaman
4 point
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4 point
Joined: May 2015
Posts: 409
alabama
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I built my house in 05, and I paid cash to most of the subs and saved a lot of money. I also installed all the hardwood and did all the tile work myself. I put in all the doors, windows, all the siding, wrapped the colums on the porch, landscaping (trees and shrubs, planted grass, etc) I took 6 months, but I have a high end house for about $70/sq ft. It was a great learning experience. BTW, spend the extra money on higher end fixtures and appliances. Its worth it. Good Luck.
Last edited by tikkaman; 05/18/15 02:52 PM.
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Re: building a house
[Re: whack-n-stack]
#1352785
05/18/15 03:48 PM
05/18/15 03:48 PM
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Joined: Feb 2013
Posts: 8,403
Atoler
14 point
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14 point
Joined: Feb 2013
Posts: 8,403
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Not using a contractor will probably save you 8-15% of the total cost of building. If you don't know what you're doing, it could add 8-20% more. This...and also realize that dealing with subs can and will be a full time job. Specifically if you can't get someones sub list.
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