Profile picture for user095248

How can we get advice on prices for a new build? It seems the builder is somewhat high.

The builder is charging so much a sq ft (which is what builders are charging in larger cities around the state) but then adds on the cost of the lot. He just seems to have ways of adding to his price here and there. 
  • May 14 2012 - Ponca City
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (6)

Best Answer

If you don't already own the lot, then yes, the builder can tack on the price of the lot.  Who else is going to purchase the lot?
If you think the builder is too high on the price per square foot, you should take your plans and specs to 2 or 3 other builders to get quotes from them as well.  Go with the builder you think will do the best job.
I'm not sure how a RE agent will benefit you.  That will be another expense that doesn't sound like you're ready to pay.
Good Luck
  • May 14 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Blue in d Nile
Here is a link that SoCal_Engr provided that helps one determining the costs of various kinds of new housing construction in various parts of the country (excluding the land):

http://www.building-cost.net/CornersType.asp

The costs really are highly dependent on what one selects.  This site gives a breakdown as part of the estimate, so if one wanted to cut corners, it is easier to see the impacts.

As for costs of empty lots with with road and utilities already brought to the site?  Zillow search only indicates one empty lot for sale in Ponca City presently; listed for $15k.

homesand.net  does offer a break down of estimated land value and structure value for their estimates, if you want to look up some "similar" properties to where you are thinking of buying and building.
  • May 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JoshBarnettREIB
User095248,

You really need to consider if this is the location and builder you want to use.  If you have a bad feeling about him right now, just wait until you are 4 to 2 weeks from closing and trying to complete the punch list.  Here is an easy formula to use when going at new construction for lot cost. 

These numbers are for estimate purposes and can be used as a guide. 
1,500 sqft new construction home at 100/sqft = 150k, lot price should not exceed 18% of the total 150k and be included in the 150k, i.e. if you owned the lot the cost of the build should only be 123k is the new construction neighborhood is selling at 100/sqft.  If you do not own the lot, the total cost of the new construction is the 150k.

Remember if you have bad feelings now, just wait, it does not get better when dealing w/ a builder, if you do not set the employer - employee relationship up front, he will continue to try to push the line.

Hope this helps,

Josh Barnett, Realtor
  • May 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for user095248
Well, there's the rub.  This builder has purchased this land to build this new neighborhood.  We have not had building activity in our city for several years.  This is prime location and he has it wrapped up so it looks like he's putting whatever price he wants.  We just decide if we want to take it or not.  He does build a good home from everything we can tell and from houses we have seen.  Thanks for responding.  This helps me see that what he is doind is not unusual.
  • May 14 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Ofe Polack
Don't do it alone, get a buyer agent who works with builders, you will be much better off working with knowledgeable Realtor.  Good luck! 
  • May 14 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

That's pretty standard.
  • May 14 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.