Current price to build a home?

[foghorn918]

Mine in 2008 was $105 sq.ft.

 

[Capm_Spaulding]

I am still fairly young, no kiddos yet, though eventually. We bought our current house in 2018 for $116/sq ft at a decent APR, though FHA so we are paying PMI.

We have since doubled our income and the house has appreciated around 30%. What brought about my question is I was just thinking recently of selling and taking the equity to buy land and build; we could rent for a year or two during that time.

I don’t want to upgrade or get a bigger house really, I’d like to stay around 2000 sq ft, just in a better area. I love our house now, but it was bought with the mind of a 20something, so things like school districts, hospitals, neighbors, etc weren’t even on the radar. Logan county in general has not been the kindest to us in our time here.

We like quality things, but they don’t have to be fancy, we just prefer buy once cry once type financial planning, so I figure mostly average/builder grade except for a few things that require that wincing for a better long term return. Hell, we even looked at pole barn plans, but those are running 200+ right now, so it seems everyone had the same idea.

We consider ourselves lucky to have slid under the closing wall in 2018, but it sounds like maybe none of the rest of this is a possibility in JB’s world.

 

[okieshooter777]

We just closed on August on a home we built. builder was 155sf and was about 2200 SF. wood floors, custom cabinets, granite, wood burning zero clearance FP...etc.
included well. septic
Did us a great job,

lucky we locked and didnt have to pay 7+ interest.


btw we looked at the barn metal homes, and it was going to cost more despite what we have been told.... and we would have had a barn not one of the amazing ones you see online for $155 psf

 

[Jcann]

My son just built a house west of county line road and north of Wilshire Rd in Canadian Co for +/-$170 a square

 

[Fredkrueger100]

No one would build a 1000sf home except maybe Rausch Coleman and that’s in their hoods

Those suckers are throwing up those homes all over Shawnee. There are currently five different places around Shawnee where they are building. One of them was in an already developed addition with nicer homes. So I’m sure their property values tanked. Guarantee in 10 years or so they will all be ghettos.

 

[Capm_Spaulding]

We just closed on August on a home we built. builder was 155sf and was about 2200 SF. wood floors, custom cabinets, granite, wood burning zero clearance FP...etc.
included well. septic
Did us a great job,

lucky we locked and didnt have to pay 7+ interest.


btw we looked at the barn metal homes, and it was going to cost more despite what we have been told.... and we would have had a barn not one of the amazing ones you see online for $155 psf

Wow, that sounds amazing. Who was your builder? PM if ya like.

 

[Timmy59]

I am still fairly young, no kiddos yet, though eventually. We bought our current house in 2018 for $116/sq ft at a decent APR, though FHA so we are paying PMI.

We have since doubled our income and the house has appreciated around 30%. What brought about my question is I was just thinking recently of selling and taking the equity to buy land and build; we could rent for a year or two during that time.

I don’t want to upgrade or get a bigger house really, I’d like to stay around 2000 sq ft, just in a better area. I love our house now, but it was bought with the mind of a 20something, so things like school districts, hospitals, neighbors, etc weren’t even on the radar. Logan county in general has not been the kindest to us in our time here.

We like quality things, but they don’t have to be fancy, we just prefer buy once cry once type financial planning, so I figure mostly average/builder grade except for a few things that require that wincing for a better long term return. Hell, we even looked at pole barn plans, but those are running 200+ right now, so it seems everyone had the same idea.

We consider ourselves lucky to have slid under the closing wall in 2018, but it sounds like maybe none of the rest of this is a possibility in JB’s world.

You have pmi because the down wasn't big enough. Pmi is wasted $ but you know that . If it were me I'd save and continue saving until a sizable egg was nested. Then a plan . If $ permits buy the land, pay it off. Next step and next step. Are you far enough along that pmi can be eliminated ?

 

[skyhawk1]

We just closed on August on a home we built. builder was 155sf and was about 2200 SF. wood floors, custom cabinets, granite, wood burning zero clearance FP...etc.
included well. septic
Did us a great job,

lucky we locked and didnt have to pay 7+ interest.


btw we looked at the barn metal homes, and it was going to cost more despite what we have been told.... and we would have had a barn not one of the amazing ones you see online for $155 psf

I would like to know the builder also, I may fire mine and he hasn't even started.
Thanks

 

[Capm_Spaulding]

You have pmi because the down wasn't big enough. Pmi is wasted $ but you know that . If it were me I'd save and continue saving until a sizable egg was nested. Then a plan . If $ permits buy the land, pay it off. Next step and next step. Are you far enough along that pmi can be eliminated ?

PMI doesn’t drop off anymore. You have to refinance to conventional to get rid of it, and the higher current interest rates plus closing wouldn’t make it worth it.

I have no regrets though, all we could afford at the time. We’d really be up a creek if we hadn’t bought when we did.

 

[joegrizzy]

I was referring to the contracting end. It’s hard to find contractors willing to do small homes these days.

that's a VERY telling stat. the house market doesn't exist for people that don't own houses; it exists for the people buying multiple properties.

this is NOT sustainable. keep importing those slaves tho; i'm sure it will work eventually.