Cost to tear down & rebuild?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Here are current prices:

Shanty town construction / doesn’t even exist in 2022 - sub $250/sqft

Low quality, builder grade finishes, nothing custom except for the floor plan. Think your average crappy looking but big McCraftsman - $250/sqft

Good 2nd tier custom construction. Custom finish work / almost nothing builder grade or off the shelf from places like Home Depot. High quality custom finishes but nothing extravagant $300-375

Top tier custom construction. High degree of custom finish work, finest materials and appliances from tile to flooring to hardware, nothing plastic / vinyl all natural materials $400+
Vinyl

Those prices are for construction only, right? Not include land cost, permits, etc. correct?

Correct.

[Anonymous]

OP- where are you at? We were making the same calculation and our builder told us they don’t do new builds in Arlington anymore, only Reno’s bc the process of getting the occupancy permit in a timely fashion has been problematic for them. Although, I can say the permitting process for renovations is also problematic in ArlCo, so maybe just build elsewhere?!

[Anonymous]

Anonymous wrote:OP- where are you at? We were making the same calculation and our builder told us they don’t do new builds in Arlington anymore, only Reno’s bc the process of getting the occupancy permit in a timely fashion has been problematic for them. Although, I can say the permitting process for renovations is also problematic in ArlCo, so maybe just build elsewhere?!

The permits are just taking a bit longer to get. That builder maybe unable to compete against other builders on land purchases?

Drive around in Arlington, there are new constructions going on everywhere. On my less than 2 mile drive to grocery store today I saw 6 new houses being built.

[Anonymous]

We paid $1M at the end of 2020 to build a 5,500 SF house in Bethesda.

[Anonymous]

Anonymous wrote:We paid $1M at the end of 2020 to build a 5,500 SF house in Bethesda.

You did this at the right time. We are getting quotes of $1.5-$1.7 for this now!

[Anonymous]

Anonymous wrote:

Anonymous wrote:We paid $1M at the end of 2020 to build a 5,500 SF house in Bethesda.

You did this at the right time. We are getting quotes of $1.5-$1.7 for this now!

yes! We literally locked in a few months before the pandemic began. Very grateful for this because we couldn’t afford our house today.

[Anonymous]

Anonymous wrote:Here are current prices:

Shanty town construction / doesn’t even exist in 2022 - sub $250/sqft

Low quality, builder grade finishes, nothing custom except for the floor plan. Think your average crappy looking but big McCraftsman - $250/sqft

Good 2nd tier custom construction. Custom finish work / almost nothing builder grade or off the shelf from places like Home Depot. High quality custom finishes but nothing extravagant $300-375

Top tier custom construction. High degree of custom finish work, finest materials and appliances from tile to flooring to hardware, nothing plastic / vinyl all natural materials $400+
Vinyl

Would a builder build me a very nice 1200 square-foot house for 1200 x $400 = $480,000? Single guy here so don’t want a big house but I’m over condo/townhouse living.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Here are current prices:

Shanty town construction / doesn’t even exist in 2022 - sub $250/sqft

Low quality, builder grade finishes, nothing custom except for the floor plan. Think your average crappy looking but big McCraftsman - $250/sqft

Good 2nd tier custom construction. Custom finish work / almost nothing builder grade or off the shelf from places like Home Depot. High quality custom finishes but nothing extravagant $300-375

Top tier custom construction. High degree of custom finish work, finest materials and appliances from tile to flooring to hardware, nothing plastic / vinyl all natural materials $400+
Vinyl

Would a builder build me a very nice 1200 square-foot house for 1200 x $400 = $480,000? Single guy here so don’t want a big house but I’m over condo/townhouse living.

Yeah, might be more like 450 though because it’s so small and there are certain fixed costs not getting spread over a bigger building (HVAC for example). But then you have architect fees, engineering fees, site prep, and a few other annoying costs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here are current prices:

Shanty town construction / doesn’t even exist in 2022 - sub $250/sqft

Low quality, builder grade finishes, nothing custom except for the floor plan. Think your average crappy looking but big McCraftsman - $250/sqft

Good 2nd tier custom construction. Custom finish work / almost nothing builder grade or off the shelf from places like Home Depot. High quality custom finishes but nothing extravagant $300-375

Top tier custom construction. High degree of custom finish work, finest materials and appliances from tile to flooring to hardware, nothing plastic / vinyl all natural materials $400+
Vinyl

Would a builder build me a very nice 1200 square-foot house for 1200 x $400 = $480,000? Single guy here so don’t want a big house but I’m over condo/townhouse living.

Yeah, might be more like 450 though because it’s so small and there are certain fixed costs not getting spread over a bigger building (HVAC for example). But then you have architect fees, engineering fees, site prep, and a few other annoying costs.

I mean a builder would build you anything you want for the right price, but unless you are paying all cash I can't see a bank financing that. You would end up paying $500,000 for a house that isn't worth much more than just the land cost.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here are current prices:

Shanty town construction / doesn’t even exist in 2022 - sub $250/sqft

Low quality, builder grade finishes, nothing custom except for the floor plan. Think your average crappy looking but big McCraftsman - $250/sqft

Good 2nd tier custom construction. Custom finish work / almost nothing builder grade or off the shelf from places like Home Depot. High quality custom finishes but nothing extravagant $300-375

Top tier custom construction. High degree of custom finish work, finest materials and appliances from tile to flooring to hardware, nothing plastic / vinyl all natural materials $400+
Vinyl

Would a builder build me a very nice 1200 square-foot house for 1200 x $400 = $480,000? Single guy here so don’t want a big house but I’m over condo/townhouse living.

Yeah, might be more like 450 though because it’s so small and there are certain fixed costs not getting spread over a bigger building (HVAC for example). But then you have architect fees, engineering fees, site prep, and a few other annoying costs.

I mean a builder would build you anything you want for the right price, but unless you are paying all cash I can't see a bank financing that. You would end up paying $500,000 for a house that isn't worth much more than just the land cost.

This. Build at least a 3br house plus a bonus room / bedroom in basement. The 2000’s are over snd we’re not getting back there cost wise, so Americans will have to start living in more reasonable sized houses given construction costs.

[Anonymous]

Anonymous wrote:We did a tear down and build in Vienna. Difference is, we bought an as-is house that we never lived in. We held it for about 6 months before the project started.

We got a construction loan to buy the house on 1/4 acre lot for @$650 and put about $700 more into the build. New house is 2 stories plus full walk-up basement, with 4 bed, 4.5 bath and 5200 sq feet cradftsmsn style with a high end kitchen and midrange fixtures everywhere else..,Our builder would have built a smaller house, but said it would have cost very close to the same thing. Also we were warned that when we resell , we’d only be listing our house for a couple hundred less than the neighboring homes that are twice as big. This was in 2016.

it looks like every other home in Viennna.....I get the picture

[Anonymous]

We had the exact same conversation. We checked around (obviously didn't ask our builder), and the quotes for new build the size of our post-renovation home were over a million, not including the extraneous expenses we'd incur to live elsewhere for a year, store our stuff, movers, etc, etc, etc. Add to that the a new build would not have the character or solid build of our current house (though it would have higher ceilings, and wider doors), but crappier building materials.

There is a reason the new builds in our old neighborhood are listing at $3 million and why there are so many renovations happening right now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here are current prices:

Shanty town construction / doesn’t even exist in 2022 - sub $250/sqft

Low quality, builder grade finishes, nothing custom except for the floor plan. Think your average crappy looking but big McCraftsman - $250/sqft

Good 2nd tier custom construction. Custom finish work / almost nothing builder grade or off the shelf from places like Home Depot. High quality custom finishes but nothing extravagant $300-375

Top tier custom construction. High degree of custom finish work, finest materials and appliances from tile to flooring to hardware, nothing plastic / vinyl all natural materials $400+
Vinyl

Would a builder build me a very nice 1200 square-foot house for 1200 x $400 = $480,000? Single guy here so don’t want a big house but I’m over condo/townhouse living.

Yeah, might be more like 450 though because it’s so small and there are certain fixed costs not getting spread over a bigger building (HVAC for example). But then you have architect fees, engineering fees, site prep, and a few other annoying costs.

I mean a builder would build you anything you want for the right price, but unless you are paying all cash I can't see a bank financing that. You would end up paying $500,000 for a house that isn't worth much more than just the land cost.

This. People don't pay much for 1,200 sq ft homes. You would be building a brand new tear down.

[Anonymous]

Sadly truly custom new construction is only for the rich these days. Your average Joe can't afford 300+ per square foot.

[Anonymous]

Anonymous wrote:Sadly truly custom new construction is only for the rich these days. Your average Joe can't afford 300+ per square foot.

True custom has always been fir the very rich. Most housing stock is 95% builder spec.