attention builders and subs. need advice >>
- Thread starter MadJack
- Start date
Jack,
Before you build look at several plans. You may find that you like an idea in one plan and decide to change your original plan to include these changes. I have seen people combine three or four different plans into the house. As for selling it you should be able to put the house up for sale once the ground is broken. You should be able to make 15 to 20% on your house.
Before you build look at several plans. You may find that you like an idea in one plan and decide to change your original plan to include these changes. I have seen people combine three or four different plans into the house. As for selling it you should be able to put the house up for sale once the ground is broken. You should be able to make 15 to 20% on your house.
Jack ... you didn't mention or I didn't see whether or not there is a time stipulation on when you must begin construction on the house after purchasing the lot. If there's no time factor ... i would be tempted to just sit on the lot because it will increase in value. Your only concern would be taxes & insurance vs plans, permits, subs, etc. Go ahead a wait 3-4 years to see what the increase value would be and sell if you like the profit... otherwise during this time you could concentrate on a plan, subs, construction costs and be ready to pull the trigger if need be. Also suggest checking with city on impact fees that may be seperate from your permit fees.
Jack, I,m a builder and some of the advice so far has been pretty good. One important starting place is the location of the lot you buy. There are subdivisins where the houses are selling better than others. The lot itself would be better if it was'nt on a street with heavy traffic. I know you said that you want to sell it without a realator. Althogh this is possible, you will really limit your advertizing. Having a realator list it on the mls brings alot more potential buyers. You could still make at least 10% on the project. You might be able to find a realator who will list it for you at a low percentage and you could still do the leg work. I would also talk to a few realators in the area to find out the best kind of house to build. For instance, in our area 2 storys with 4 bedrooms and a 3 car garage seems to be the way to go. I like the master bedroom on the first floor but alot of the younger couples buying the houses in our area want it on the second floor with the other bedrooms. Open floor plans are also very popular. The right house and lot is an important place to start. I'll add more when I have time. Good luck.
Jack you might check out List Free Realty, I think it charges 500 to sell a house instead of the standard fee. A buddy of mine owns a franchise here, you could call him.
- Feb 12, 2000
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Good advice on finding the house plan that sells best. You also may want to make sure your house plan is not too similar to the other 6 houses in the sub. Are there not other guidelines besides the outside covering? Interesting.
I absolutely would not go with a full service realtor on this. I would do what Agent suggested and use a discount realtor to get exposure on MLS for $500. I sold a condo in Atlanta like this. But before this since you are not on a timeline, I would do it by owner before either of these options.
What would you think about narrowing down the houseplans to 3-5 choices and letting the board vote in a poll for the best one? Now that would be the ultimate forum-built home starter!
I absolutely would not go with a full service realtor on this. I would do what Agent suggested and use a discount realtor to get exposure on MLS for $500. I sold a condo in Atlanta like this. But before this since you are not on a timeline, I would do it by owner before either of these options.
What would you think about narrowing down the houseplans to 3-5 choices and letting the board vote in a poll for the best one? Now that would be the ultimate forum-built home starter!
i'm currently looking at plans now. i don't think i will change the plans as the house isn't for me to live in but to be sold. unless the house sells before it's completed i don't see anything getting changed. i know where you're coming from because i made many changes to my house during the building process.eman said:
thanks
there is a 2400 square foot rancher that sold in 9 days after being listed. it sold for the asking price of 299k. he didnt have the info on the other 2 homes handy but i will find out about those as well. there are 3 homes built and 4 lots left. i'm thinking i can get a 2000 sf rancher built for $80-$90 per sf around here, maybe less. sell for 250k-290k?zig said:
i've talked to a realtor and he told me that ranch style homes with a full basement goes well around here and homes in the 250k range sell well too. that's exactly why i'm looking at this size/priced homes.
thanks
good idea, agent and dawgball. thanks. i remember you talking about the sale of your condo, dawgball and remember how highly you recommended going that way.
as far as the plans go. yes, i can pick out 5 or so and have the board vote on the one to build. yup....sounds like a good idea to me.
as far as the plans go. yes, i can pick out 5 or so and have the board vote on the one to build. yup....sounds like a good idea to me.
gonna ask the builders a question here.
2 story vs rancher
since the rancher has more roof than 2 story, is it a big money saver (as far as building goes) to build a 2 story and get more square feet for the same money?
understand what i'm saying?
and, should i select a home that has a simple roof as opposed to the roof with many pitches and valleys? the roofs with all the different pitches and valleys are attractive but must be a big expence over a straight gable roof tha goes straight across, right?
2 story vs rancher
since the rancher has more roof than 2 story, is it a big money saver (as far as building goes) to build a 2 story and get more square feet for the same money?
understand what i'm saying?
and, should i select a home that has a simple roof as opposed to the roof with many pitches and valleys? the roofs with all the different pitches and valleys are attractive but must be a big expence over a straight gable roof tha goes straight across, right?
oh, what about heating? i found out there's no natural gas in that area? no sence spending the big bucks for geo thermal. will an electric heat pump work for this area? (south central indiana)
Jack, I wish you well in your venture. The only input I have is that I have seen some pretty idiotic people do this and make good money. Therefore, since you're smart and have good horse-sense, you should have no problems. GL!
also, I will add that I just saw on the Today show that house sales were down last month. I've also seen some people predicting a crash in the real estate market for whatever that's worth.
also, I will add that I just saw on the Today show that house sales were down last month. I've also seen some people predicting a crash in the real estate market for whatever that's worth.
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thanks man. i don't know about the smart part because i've been screwed royally 2 times and the last time was bad. but, i do learn from my mistakes and feel fairly confident i can make a few bucks doing this with minimum risk.SixFive said:
i'm leaving in 30 minutes for court vs the dikhead that built this house i'm living in now.
if anybody wants to see the covenants, shoot me an email and i will forward them to you. only if you're sincere about helping me out with this project. no nosey folk need apply 
jack@madjacksports.com
jack@madjacksports.com
You have both right. A 2 story is less expensive to build but if ranches are selling well it might not be enough of a savings to make the difference of selling faster. I base my house framing price by square footage. Then I look at the roof. If its really steep and complicated the labor cost is definately going to be alot more. You're right about it being alot more attractive to people though. I think you could pick out an attractive house without making the roof too complicated. It can have some different pitches and valleys if the roof is mostly walkable and not too busy.
I would pick a ranch and 2 story plan with similar square footage,(because labor price should be close with similar square footage) and have a lumber salesman bid both for you to see how much you can save in material costs.
I would pick a ranch and 2 story plan with similar square footage,(because labor price should be close with similar square footage) and have a lumber salesman bid both for you to see how much you can save in material costs.
Have you looked into any pre-fab homes...............I see there becoming popular in some areas?
This is a great thread......lets keep it going to fruition.
My brother is currently building a house for spec in Lake Havasu, Arizona. He just started the process, and I'm watching closely, so I'll chime in if I can add anything of benefit. I'm using him as a "guinea pig" as I plan on doing the same thing.
My brother is currently building a house for spec in Lake Havasu, Arizona. He just started the process, and I'm watching closely, so I'll chime in if I can add anything of benefit. I'm using him as a "guinea pig" as I plan on doing the same thing.
Jack,
It is always recommended by building industries to hire a licensed builder for many good reasons, one is that they are insured, so if one of their worker is injured during construction, he's responsible not you. Also, there's 10 years workers gurantee on their finish product (check w/ local contractor law), they'll have to come back to repair/replace for the defects.
Whether you should build a single story or two, with/without basement, style, size...etc. it all depends on the market and what buyers want in that area, in order for you see if the project is worth while to do, but most importantly is whether there's PROFIT to be made.
I won't pre-sell the home, most buyers may want their custom finishes/paint colors...etc. you'll waste more time to satisfy them than to complete your project in time. My 2 cents.
GL in your investment:thumb:
It is always recommended by building industries to hire a licensed builder for many good reasons, one is that they are insured, so if one of their worker is injured during construction, he's responsible not you. Also, there's 10 years workers gurantee on their finish product (check w/ local contractor law), they'll have to come back to repair/replace for the defects.
Whether you should build a single story or two, with/without basement, style, size...etc. it all depends on the market and what buyers want in that area, in order for you see if the project is worth while to do, but most importantly is whether there's PROFIT to be made.
I won't pre-sell the home, most buyers may want their custom finishes/paint colors...etc. you'll waste more time to satisfy them than to complete your project in time. My 2 cents.
GL in your investment:thumb:
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