Building home on own lot: pro and cons

[BommaliNinnodhala]

40 minutes ago, AFDB__REBEL said:

pro and cons chepanndi bros...

planning to buy land and build custom home....

In the current situation — gas crisis — inflation — supply chain issues — don’t recommend 

[AFDB__REBEL]

2 minutes ago, no01 said:

plus you cant buy open lot in a community? mostly outside of community lo lots untai..where there is no association.

Pros - no association fee, no community rules n guidelines etc...just follow your city rules anthe

Cons - Usually oke community lo unte more secure, oka neighborhood lo unna feeling vasthadi, mostly desis andaru oke chota untaru so kids ki easy for playing, club house/pool etc amenities undochu.

 

one i am planning is in community

[no01]

Just now, no01 said:

plus you cant buy open lot in a community and build your own house. Mostly outside of community lo lots untai..where there is no association.

Pros - no association fee, no community rules n guidelines etc...just follow your city rules anthe

Cons - Usually oke community lo unte more secure, oka neighborhood lo unna feeling vasthadi, mostly desis andaru oke chota untaru so kids ki easy for playing, club house/pool etc amenities undochu.

 

custom builders usually localities untaru...Toll Brothers lanti premium builders or Medium range like Pulte etc vallu manam chupinche lot lo kattu ante kattaru....so u need to find a local guy who is trust worthy and build the house on time, as promised. U need to monitor on day to day activity, its your headache. 

[AFDB__REBEL]

Just now, BommaliNinnodhala said:

In the current situation — gas crisis — inflation — supply chain issues — don’t recommend 

bro---can start building house later also if you have land no ? dont have to build in these situations but someday you can start

th

[no01]

1 minute ago, AFDB__REBEL said:

one i am planning is in community

ala single oka custom built option isthunnara? is very unusual

[Android_Halwa]

36 minutes ago, AFDB__REBEL said:

pro and cons chepanndi bros...

planning to buy land and build custom home....

There is paper work involved initially and this is the pain point. Obtaining permissions from the city, electricity, sewage and water, approvals from the city, etc. Usually builder ki contract isthe vadu ie work outsource chestadu….depending upon the city rules, oka 3-4 months min padtadi. 
 

Before you apply for permit, you have to finalize the plan and submit the building plan, usually done by the contracter but it takes time.

Coming to custom plan, unless it’s a millionaire house niku peddaga custom plan emi vundadu…builder gadi degara vunde oka 10-20 plans Lo kastha atu itu customize chesi istadu…usually they won’t beyond their stretching limits to customize as architecture planning is very expensive…but you should be happy with the level of customization a builder offers. Floor plan la customization peddaga vundademo but interiors customization chesukovachu…chala flexible vuntadu local builder aithe..

Coming to loan, this is a tricky part. Most builders have tie up with local credit societies and banks and they ask you to go through them…builder tho signing chesetapudu agreements Ki and plans Ki chal varaku you have to pay from your pocket…sometimes these will be covered in the loan and sometimes they do not…so it gets very tricky…okkokkadu okkolaaga manage chestadu…

[AFDB__REBEL]

4 minutes ago, no01 said:

ala single oka custom built option isthunnara? is very unusual

that community has all custom homes, and has HOA

[tom bhayya]

26 minutes ago, CooLgUy4U said:

Even I am trying, spent already 6/7 months into this.

Cons (can't say) : lot of research need to be done, time and patience.

Pros: you will definitely save Money, gain experience/knowledge and last & imp satisfaction and good feeling.

 

How will you save money? 

[AFDB__REBEL]

2 minutes ago, tom bhayya said:

How will you save money? 

direct buy 1 million aithe, customize can be be around 900K-800k
builder is not taking lot price from you.

[phatposts]

Plans, Permits, zoning, utilities, town sewer or septic, etc. ila start cheyyali. Veetiki construction manager ni hire cheyyachu or you can do yourself with an attorney's help. Takes time for approvals and all costs are out of pocket initially. 

Then interview few construction companies on what they can do etc. 

You will be involved in SO MANY decisions - foundation, framing, lumber supplies, electricians, plumbers, framers, roofers, etc. This is easier. Then comes personal and cosmetic stuff. You need to research a ton of stuff to be able to make decisions. High end custom homes aithe - oka small example vesta choodu (from a FB friend's wall)

1: You have to be willing to “manage” the whole thing. If you’re a details person (and want things done right), you have to stay on top of it. I literally talk to someone every day (usually multiple times per day). If you stress easily, this may be too much for you. But this avoids costly mistakes by making sure things are how you want them from the get-go.

2 You really need to have a decisive personality. You can’t spend time agonizing over every single decision, simply because there are just too many to make! 90% of the time I’m a yes or no, black or white kind of person, and that’s very beneficial. Case in point...today’s discussion with the door guy & trim guy for the door leading into the home office:

Is this a door or CO?

Wait, what’s a CO?

Cased opening.

Oh, then no, it’s a door.

What kind of door?

Double French doors.

6’ or 8’ ?

8

What kind of doors?

Barnwood? solid or glass?

Oh, glass.

What kind of glass?

Clear, frosted, rain, beveled, sea spray...

Oh, clear.

How many panels?

Uh, what’s normal?

6, 9, 12, 16, 18...just depends on what you like...

Okay, sizing looks good for 12.

How do you want them framed?

Shaker, no router marks. Here, like this photo.

Stained or painted?

Painted.

What color do you want them painted?

White.

What color white? Same as the color you picked for the baseboards & crown molding?

Yes.

Do they swing into the room or out?

Out.

Is it a security door or a pass-thru?

It means do you want them to lock?

Oh. Sure, yes.

What color knobs?

Black

What color hinges do you want?

I need to pick a color for door hinges? Really? Ok. Brushed nickel.

What style door knob?

Uh....

Here’s a book, pick one out & call me.

Ok.

That’s 15 decisions for one doorway. Now, take all that & multiply it by about a thousand, and you’ve built a house!

 

Good luck!

 

[GelakoduKri]

50 minutes ago, AFDB__REBEL said:

pro and cons chepanndi bros...

planning to buy land and build custom home....

Issue I faced - 

1 Lumber price went up I had to deal with price increase, If I had a builder locked in price I would have saved $25-$35 K on material only. 

U need to deal with price fluctuations. + or - 

2 And city grading issue , back yard lo we had some elevated area which got rejected after the work isdone by city due to some flood water issues. oka $10k bokka for redoing it. 

3 construction and closing loan is kind of hassle 

[CooLgUy4U]

9 minutes ago, tom bhayya said:

How will you save money? 

as per my research, spoken to the builders/realtors. you will save good money in the construction. at least 100k - 150k.

[Android_Halwa]

9 minutes ago, AFDB__REBEL said:

direct buy 1 million aithe, customize can be be around 900K-800k
builder is not taking lot price from you.

Builder does bulk work and his construction cost will be lower…where as individual lot, cost will go up. If it’s CA, usually $90-$110/sft for ranch style and another $30 for duplex.

building a home is expensive than buying…

[CooLgUy4U]

6 minutes ago, CooLgUy4U said:

as per my research, spoken to the builders/realtors. you will save good money in the construction. at least 100k - 150k.

and also keep in mind that construction rates would be high and short term.

[Kreole_]

28 minutes ago, GelakoduKri said:

Issue I faced - 

1 Lumber price went up I had to deal with price increase, If I had a builder locked in price I would have saved $25-$35 K on material only. 

U need to deal with price fluctuations. + or - 

2 And city grading issue , back yard lo we had some elevated area which got rejected after the work isdone by city due to some flood water issues. oka $10k bokka for redoing it. 

3 construction and closing loan is kind of hassle 

Did you opt for One time close construction loan?