Have you ever thought of Building your custom home in the Roaring Fork Valley?

This blog was prompted by the list price of a variety of bank owned lots that have come on to the market recently. 
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With the dramatic fall in real estate prices over the last couple of years, the prevailing wisdom has suggested that it is better to buy existing homes than build since they are so cheap.

While I would not disagree with this outlook, land prices have fallen so dramatically that I believe it is now possible to build a brand new home to your exact specifications at a cost that could be equivalent to the current depressed market values.

Along with every thing else in the valley, labor costs have fallen as the construction sector has been the hardest hit and contractors can no longer charge the high prices of 4 years ago.

As a very rough guide, it should be possible to build a fairly simple home for around $150 / square foot and one with "high end" finishes for around $200 / square foot.
  • August 05 2011 - Carbondale
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Answers (2)

Julian,

I think you are a bit off on your price estimates on a Newly Constructed home.  But nicely enough, you are on the high side of things.  A "builder grade" is actually closer to $110 sq/ft and that is with additional unfinished sq/ft in th-e basement.  For a nice home with hardwoods, granite, stainless appliances, 42" cabinets, etc.... your looking at about $130-135 sq/ft.  With high end stuff being a bit taste specific it's harder to estimate, but about $150-160 sq/ft gives you one heck of a house and $200 sq/ft is basically anything you would want.  Feel free to call or email me for more info as I work for one of the bigger builders in the state.
  • August 05 2011
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I would disagree with Jay and Julian.  As a local Roaring Fork Valley contractor, I would say both your estimates are off.  Unfortunately, I don't think Jay is in touch with market forces at the local level.  The cost of labor and materials in the RF Valley is much higher than you would find elsewhere in the state.  Labor is probably the biggest driver of cost in this area.  The costs for new homes are very wide ranging and depend a lot on the type of home.  Many showcase homes are constructed in Aspen, Snowmass, and even Basalt which run upwards of $300-$400/sf.  Some of the higher end homes can be much more expensive.  In the Carbondale area it would be difficult to build a nice home for less than $200/sf.  A builder grade model might be achieved for less than $200 but this would be purely construction hard cost and would not include normal soft cost.  However, I do not believe that buying a distressed property is going to provide you with more value than buying distressed land and building a home to suit your needs.  Many of the distressed properties on the market are unattractive and may not hold the potential for future appreciation that a newly constructed home will.

Brian Wells
Crystal Springs Builders
1044 Main St.
Carbondale, CO 81623
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  • January 08 2013
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