My father and uncles would know how to build a house, and they would be willing to build one for me. If I bought the land, and told my family what I wanted in the house, would that be cheaper than buying one?
How much work would actually be involved with it?
2006-11-20 08:16:18 · 6 answers · asked by dizzy_19832002 1 in Business & Finance ➔ Renting & Real Estate
It is a lot of work, but you can hire people to do the things you don't know how to do or don't want to do. It is much cheeper to build your own than to buy a new one. Make sure to check backgounds of all contractors, and only hire ones who are bonded. Have regular inspections by someone who is knowledgable to make sure the building codes are met.
2006-11-20 08:19:24 · answer #1 · answered by Chensona, RDA 3 · 0⤊ 0⤋
Building a house will get you a better deal than buying older home. In NY where I'm from to buy a lot and construct a home may run you somewhere between 500k-550k. However if you were to buy a brand new house it would cost you around 650-675k. Older homes sell for 500k +. It is not necessarily cheaper but you would have a much better deal than buying an old home for the same price. Building a home is alot of work, time and money. You will need to be familar with all zoning ordinances, building codes, permit requirements etc. A home can take up to 6-12 months depending on your area.
2006-11-20 09:19:56 · answer #2 · answered by tianaramal 4 · 0⤊ 0⤋
I agree with other writers. If they will build it, how lucky you are!
Be sure you know what you want BEFORE you begin. Don't just tell them - you can actually buy plans for houses so that nobody has to guess what you want. There is a book called "Affordable Houses" or look at the link below. If you have never owned a home before you may have problems in communicating what you want.
Remember that even with a plan, you have to make every little decision from the tile on the bathroom floor to how wide the refrigerator opening should be to the light fixtures and more. I would suggest that you go to all kinds of new building developments that are within your price range or slightly above your price range. Take a close look at the type of finishing details that are in the homes. The price of the details can kill your budget if you don't watch out.
Also, you may want to think about future people who will be living in the house (aka resale value). Even if you cannot afford to finish off an extra bedroom and bath upstairs, for example, you might want to build the framework and install the basic plumbing requirements and just close the door!
Again - plan, plan, plan and communicate like crazy. You need to be there a LOT because tearing out is a lot more expensive than doing it right the first time.
Just remember: storage, storage, storage!!!
2006-11-20 08:29:56 · answer #3 · answered by kramerdnewf 6 · 0⤊ 0⤋
Yes its a lot cheaper if you have the skills to do so.
Its a lot of work and remember you need to run it like a business. especially if there is a construction loan involved.
Someone in your family posseses a builders license I hope?
2006-11-20 08:26:36 · answer #4 · answered by Jonny B 5 · 0⤊ 0⤋
If you know someone that build homes then I think it would be cheaper because it's the labor that gets your pocket.....However working with family is touchy....a lot of arguing, disagreeing...could turn ugly
2006-11-20 08:18:49 · answer #5 · answered by graciegirl 5 · 0⤊ 0⤋
if you have the skills yes it is but the easy stuff like framing is also the cheap stuff so to save you need skills in wiring-plumbing-finish carpentry plus you need to source and transport the materials - don't forget the permit and inspection requirements
2006-11-20 08:20:00 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It all depends on what you want and the market around where you live.. any more details?
2006-11-20 08:18:12 · answer #7 · answered by A G 2 · 0⤊ 0⤋