House experts chime in

[prince143]

I watched this video on How much a house costs just for labour and material.

https://www.youtube.com/watch?v=koFj9etFd8U&t=211s (Some one tell me how to post youtube video here????)

 

In the video, the guy talks about cost for single family home(2500 sq) in Ohio which is $320,000(includes material and labour). He also mentioned prices adjustments need to be done based on location (I'm interested in atlanta, so added 9% which is  mentioned in end of video). Next he adds 30% as builder markup(Average). 

 

I did the same calculation for a single family house(2700 sq similar to one in video)  in Atlanta which is priced $769,000 based on video to see how much its overpriced

House Link:   https://www.zillow.com/homedetails/3740-Tamiami-Trl-Cumming-GA-30041/338758183_zpid/

1) So based on his numbers 320,000k + 9%(price adjustment for build material and labour for atlanta area)=$350,000

2) Next lets add builder markup 350,000+105,000(30% builder markup)=$455,000

3) Since the house is in 1 acre lot I have found empty lot in same zip code 30041 which is $70,000.

LOT LINK: https://www.zillow.com/homedetails/5310-Ridge-Farms-Dr-Cumming-GA-30041/68629671_zpid/

So now the total adds up to $455,000+ $70,000=$525,000

4) Next lets add site premium(which is common in atlanta area) approx. 50,000 i.e. $525,000+ 50,000=575,000. 

5) We can add another $50,000 for miscellaneous extras which will be $575,000+$50,000=$625,000

I see the difference of $769,000-$625,000= $145,000.

 

House experts please throw light if I'm missing something @csrcsr 

 

[megadheera]

That works if you are ok to live in outside of a community. 

[Balibabu]

 ltt for experts

[Captain_nd_Coke]

Ya thats right... once the nest is empty or they are abt to hit college, you can think of going this route..

 

I thought of going similar way, reached 3-4 gc's and their quotes were like within 50k or around to what I was looking for, outside developments and no hoa's...

I cant be my own gc at this point of life, if you can then you might save arond 100-150k depending upon the levels options thay you go...

So bit the bullet and went with run of thr mill builders in my area

[Charles_Baboru_Naidu]

16 minutes ago, prince143 said:

I watched this video on How much a house costs just for labour and material.

https://www.youtube.com/watch?v=koFj9etFd8U&t=211s (Some one tell me how to post youtube video here????)

 

In the video, the guy talks about cost for single family home(2500 sq) in Ohio which is $320,000(includes material and labour). He also mentioned prices adjustments need to be done based on location (I'm interested in atlanta, so added 9% which is  mentioned in end of video). Next he adds 30% as builder markup(Average). 

 

I did the same calculation for a single family house(2700 sq similar to one in video)  in Atlanta which is priced $769,000 based on video to see how much its overpriced

House Link:   https://www.zillow.com/homedetails/3740-Tamiami-Trl-Cumming-GA-30041/338758183_zpid/

1) So based on his numbers 320,000k + 9%(price adjustment for build material and labour for atlanta area)=$350,000

2) Next lets add builder markup 350,000+105,000(30% builder markup)=$455,000

3) Since the house is in 1 acre lot I have found empty lot in same zip code 30041 which is $70,000.

LOT LINK: https://www.zillow.com/homedetails/5310-Ridge-Farms-Dr-Cumming-GA-30041/68629671_zpid/

So now the total adds up to $455,000+ $70,000=$525,000

4) Next lets add site premium(which is common in atlanta area) approx. 50,000 i.e. $525,000+ 50,000=575,000. 

5) We can add another $50,000 for miscellaneous extras which will be $575,000+$50,000=$625,000

I see the difference of $769,000-$625,000= $145,000.

 

House experts please throw light if I'm missing something @csrcsr 

 

Ltt for @Realityy to wake up @csrcsr or kick on @CSR_10gu_Athi10gaku a$$

[prince143]

Ltt

[astalavistaa]

I sense something wrong with that lot. multiple times listed --> pending --> listed

and last time sold for 10k after listing for 30k

[prince143]

Ltt

[astalavistaa]

8 hours ago, prince143 said:

Ltt

aa lot kontunnaava. manchi place lo undi

[Gorantlamdhav]

On 5/12/2023 at 5:01 PM, prince143 said:

I watched this video on How much a house costs just for labour and material.

https://www.youtube.com/watch?v=koFj9etFd8U&t=211s (Some one tell me how to post youtube video here????)

 

In the video, the guy talks about cost for single family home(2500 sq) in Ohio which is $320,000(includes material and labour). He also mentioned prices adjustments need to be done based on location (I'm interested in atlanta, so added 9% which is  mentioned in end of video). Next he adds 30% as builder markup(Average). 

 

I did the same calculation for a single family house(2700 sq similar to one in video)  in Atlanta which is priced $769,000 based on video to see how much its overpriced

House Link:   https://www.zillow.com/homedetails/3740-Tamiami-Trl-Cumming-GA-30041/338758183_zpid/

1) So based on his numbers 320,000k + 9%(price adjustment for build material and labour for atlanta area)=$350,000

2) Next lets add builder markup 350,000+105,000(30% builder markup)=$455,000

3) Since the house is in 1 acre lot I have found empty lot in same zip code 30041 which is $70,000.

LOT LINK: https://www.zillow.com/homedetails/5310-Ridge-Farms-Dr-Cumming-GA-30041/68629671_zpid/

So now the total adds up to $455,000+ $70,000=$525,000

4) Next lets add site premium(which is common in atlanta area) approx. 50,000 i.e. $525,000+ 50,000=575,000. 

5) We can add another $50,000 for miscellaneous extras which will be $575,000+$50,000=$625,000

I see the difference of $769,000-$625,000= $145,000.

 

House experts please throw light if I'm missing something @csrcsr 

 

What is your question? 
how much profit builder makes? Or you want to build for yourself and asking costs involved?

[rmJU72]

what ur paying a builder for is not just the house, but being inside a community, so ur relatively more secure, have neighbors close by, kids have friends, when parents visit, they also feel safe and comfortable walking around.

if u choose lot and build on ur own, u save money but lose everything else.