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Reply to "Come along as we build our custom home- lessons learned in real time."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here--first clarification. In the realm of custom homes, going with a design-build firm that has builder, architect, permitting,and even the lot purchase in house is the generally the most expensive way to go. Lining up the architect, builder, etc saves money comparatively. A move in ready home will definitely save on stress, but then of course you're not getting exactly what you want. And as far as total cost, an existing 5500 sq ft, 5 br/4.5 bath, 2 car garage home will run 800k-2M, depending on location. Compared to an existing build, similar specs in Bethesda, we'll be saving money. Compared to an existing build in Fredericksburg, for example, we'll be spending more. One reason we're building: we have a family member who uses a wheelchair and I was finding it impossible to find universal access. By the time we looked at sinking 75-100K into making a home truly disability friendly, it made sense to build. Here was how we found the lot: our budget meant that we skipped the close-in mo-co areas, where a sliver of a lot is going for over 300K, and that's if you're lucky. We wanted the following: good school district with diversity (we have young kids), convenient location for hybrid work for commutes into DC 2-3 times/week, if possible, existing sewer/water hookups, and 1/3 to a half acre. We found our lot that met all of these specs by setting up search parameters on Redfin, and purchased it back in 2020. Total cost: 82K[/quote] You’re spending 1.4 building a house on a lot that cost 82k? Seems way off. [/quote] IKR? Are there enough buyers of 1.5-2 mil homes where lots cost 82K? Even if you plan to live there forever, you still probably want to consider resale value. [/quote]
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