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Key:
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Joined: Oct 2000
Posts: 8,545 Likes: 46
14 point
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14 point
Joined: Oct 2000
Posts: 8,545 Likes: 46 |
Same house that I looked at having built pre-Covid that was $190k is now $280-320k depending on garage or not.
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Joined: Dec 2004
Posts: 20,179 Likes: 81
Freak of Nature
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Freak of Nature
Joined: Dec 2004
Posts: 20,179 Likes: 81 |
If voting made any difference, they wouldn’t let us do it.-Mark Twain
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Joined: Sep 2014
Posts: 8,551 Likes: 5
14 point
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14 point
Joined: Sep 2014
Posts: 8,551 Likes: 5 |
We sold some land back in December. I recently saw the listings for the houses they’re building there now and they were at $185-$200 sq/ft for a 1800-1900 sq/fr home. Unbelievable.
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Joined: Nov 2011
Posts: 22,603 Likes: 22
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 22,603 Likes: 22 |
Everyone always forgets to add in the land when talking home costs. It makes no sense to remove land costs. Especially when comparing to existing homes that will certainly include the land they're on.
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Joined: Nov 2014
Posts: 14,858 Likes: 33
Puts sugar in his cornbread!
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Puts sugar in his cornbread!
Joined: Nov 2014
Posts: 14,858 Likes: 33 |
We sold some land back in December. I recently saw the listings for the houses they’re building there now and they were at $185-$200 sq/ft for a 1800-1900 sq/fr home. Unbelievable. You have to factor in the lot price with that too. Most lots were going for 100k back ten or so years ago. If you own your lot, you may still be able to get a reasonable price for building.
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Joined: Jan 2008
Posts: 1,317
8 point
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8 point
Joined: Jan 2008
Posts: 1,317 |
We’re nearing the end of our build right now and should be in by mid October-ish. Material prices have been a definite challenge, particularly lumber because of when we started, and electrical supplies. I GC’d myself and did quite a bit myself with my brother. We did our own electrical, HVAC, painting, custom cabinets and all the finish work(floors, trim, etc) so I saved a good bit on that stuff. Our cost for about 3900 sqft full brick, granite, on a slab with a 1000 sqft garage, 2 large porches and a 250 ft concrete driveway is gonna be about $108 sqft heated and about $78 sqft under roof. Plus our land which we owned.
We’ve fortunately had great subs that have been prompt, efficient and done a nice job. Especially considering all the construction going on in our area.
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Joined: Jul 2011
Posts: 39,938 Likes: 130
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,938 Likes: 130 |
Site prep can be highly variable.
. Yep, got a friend that's a big house , high end builder. He's building one on the Peninsula on Goose pond Island, on a VERY steep lot . Required core drilling, a soil engineer , special drawings for the footer . Gonna have very tall keyed retaining walls . 250 K for site prep and get the footer in . It's not that big a house . The price of the lot and site prep gonna be close to 1/2 total cost! But , it is on the main channel. 
"Why do you ask"?
Too many people spend money they don't have , on things they don't need, to impress people they don't know.
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Joined: Oct 2019
Posts: 1,572 Likes: 3
8 point
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8 point
Joined: Oct 2019
Posts: 1,572 Likes: 3 |
Until materials come down, it’s gonna be pricey. Concrete reinforcement wire is almost 400$ at Home Depot. That’s rediculous. What's concrete a yard delivered now $140-150 yard for just the mud ? Was told last week 175 plus 30 for delivery cost
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Joined: Feb 2008
Posts: 18,356 Likes: 75
Old Mossy Horns
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Old Mossy Horns
Joined: Feb 2008
Posts: 18,356 Likes: 75 |
All this and I see houses popping up everywhere. I have patients who are builders and they are turning down work. Specs are being sold before framing is done. We are blessed and doing reasonably well but I can’t afford to build a home right now.
Last edited by bamaeyedoc; 09/17/22 10:17 PM.
AKA: “Dr. B”
Aldeer #121
8-3-2000
Proud alum of AUM, UAB, and UA
2023-2024 ALdeer Deer Contest Champions
2024-2025 ALdeer Deer Contest Champions
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Joined: Nov 2011
Posts: 13,750 Likes: 257
Booner
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Booner
Joined: Nov 2011
Posts: 13,750 Likes: 257 |
Not sure but I was happy when I saw my insurance statement if coverage last week… it was lot more than before… I’d think I can get into a decent one for less than $100 if frugal and contract it out Not possible. Wish it was but you’re prob looking at $150/ft if you sub it all out. I’m not even sure you could hit $100/ft on just the slab and raw materials.
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Joined: Nov 2011
Posts: 13,750 Likes: 257
Booner
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Booner
Joined: Nov 2011
Posts: 13,750 Likes: 257 |
Until materials come down, it’s gonna be pricey. Concrete reinforcement wire is almost 400$ at Home Depot. That’s rediculous. What's concrete a yard delivered now $140-150 yard for just the mud ? Plus taxes, environmental fees, and don’t forget that fuel surcharge. That’s contractor pricing and I buy a bunch. If you’re a “one off” single time buyer, add $25-$30 per yard more. I had my guys do a slab for a buddy’s barn at my dead cost and I bought the mud on my account and just let him pay me for it. Concrete was $25/yd cheaper than what he was quoted (same company) and using my guys saved him $2000 on the slab prep and finishing versus the lowest of the three quotes he’d gotten.
Last edited by abolt300; 09/17/22 11:11 PM.
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Joined: Dec 2004
Posts: 25,471 Likes: 4
I am Cornholio
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I am Cornholio
Joined: Dec 2004
Posts: 25,471 Likes: 4 |
Nevermind…….No way in hell I’m paying that and 6% + interest rate
If you’re a common sense person, you probably don’t feel you have a home in this world right now. If you’re a Christian, you know you were never meant to.
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Joined: Jan 2014
Posts: 10,586 Likes: 2
Lucky Bastage
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Lucky Bastage
Joined: Jan 2014
Posts: 10,586 Likes: 2 |
Go on and add another 30% (on top of the 60% we’ve already seen YTD) to the HVAC portion of a new house after the January 1st DOE efficiency changeover, too.
The fool tells me his reasons; the wise man persuades me with my own.
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Joined: Oct 2000
Posts: 8,545 Likes: 46
14 point
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14 point
Joined: Oct 2000
Posts: 8,545 Likes: 46 |
How many people are going to be under water and upside down in these houses?
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Joined: Jun 2015
Posts: 15,383 Likes: 77
Old Mossy Horns
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Old Mossy Horns
Joined: Jun 2015
Posts: 15,383 Likes: 77 |
All this and I see houses popping up everywhere. I have patients who are builders and they are turning down work. Specs are being sold before framing is done. We are blessed and doing reasonably well but I can’t afford to build a home right now. Yup same here. I’ve got a beautiful piece of property outside Auburn that I would love to build on but can’t afford to. Thankfully we found a house we’re happy with in Opelika.
Last edited by AU7MM08; 09/18/22 08:07 AM.
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Joined: Dec 2001
Posts: 14,546 Likes: 23
Booner
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Booner
Joined: Dec 2001
Posts: 14,546 Likes: 23 |
How many people are going to be under water and upside down in these houses? All of them when the crash hits.
"You think I care? Roll Damn Tide"
Have you tried Google?
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Joined: Feb 2007
Posts: 26,561 Likes: 166
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 26,561 Likes: 166 |
How many people are going to be under water and upside down in these houses? All of them when the crash hits. My question is Is this the new normal for cost because of inflation? I’m wanting to do some remodeling and hoping for prices to fall back In the mid to late 80s helped a good friend and his dad build houses and a subdivision. Starter homes cost around $25 a ft and custom homes were around $30. It crazy how much the dollar has been devalued.
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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Joined: Jan 2014
Posts: 4,494
10 point
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10 point
Joined: Jan 2014
Posts: 4,494 |
I'm hoping prices continue to fall, but I don't see them going back to pre covid levels without a complete crash. We are hoping to build next year but if prices don't decrease some we may not. I can't and won't afford to build at $150 plus a sf. We are starting to look into the barndo / red iron possibilities and doing all the interior work ourselves because of the ridiculous prices.
I cannot see how the housing market can continue at the rate it has been going with record high inflation and rising interest rates. Huntsville may be an exception for a little while because of the money moving into the area from out of state, unfortunately I'm impacted by the Huntsville market. When the market finally does correct a lot of folks will be under water and with interest rates rising they won't be able to afford to refi either. I have no plans to put us in that situation.
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Joined: Dec 2015
Posts: 27,316 Likes: 252
Pumpkin - The Thermal Expert
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Pumpkin - The Thermal Expert
Joined: Dec 2015
Posts: 27,316 Likes: 252 |
How many people are going to be under water and upside down in these houses? I have a customer who just built a big house. It cost him $700k+ to build. It appraised for $450k. He has the money and plans on dying in that house, so to him its not a big deal. However, theres alot of people in the same boat who will sell one day and lose a pile of money doing it. It just made absolutely no sense to me building a house with double or triple material prices, but they just kept right on going. I cant see how this could not get real ugly.
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