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o/t my latest question about freaking houses :)

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Old 01-09-2004, 09:43 AM
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$78/ft?

WOW.
My small builder buddy around here says his COST in a $225k house around here is $105/ft.

My inlaws bought a 2600ft semi prefab house (new around here: builder offers 5 basic floorplans with only a few options on it. walls, roof trusses, and floor Ibeams are premade and delivered on trucks). They paid $266k for it including the 17,000sf lot. That's the best deal I've heard of around these parts. It's weird, though, cause you can drive 40 miles and houses go for $15/foot less apples for apples.
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Old 01-09-2004, 11:22 AM
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yeah I was pretty happy about the quote, of course thats just an estimate based on a floorplan we printed out. Now we have to get the blueprints drawn up and decide all this stuff and I'm sure we might have a little different figure give or take a few bucks. I'm also going to check out some of the houses this guy built to see what I'm dealing with. But the meeting went real well and I was impressed with what he had to say. The house we are planning on will be about 2800-2900, still not sure yet.
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Old 01-09-2004, 11:23 AM
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oh one more thing.....some of the apprasials so far from others building in this subdivision are $102 to $103 so we'll start out with some equity already
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Old 01-09-2004, 11:39 AM
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Don't count your chickens before they hatch. Wait till you laydown in your Jacuzzi and everything works then you'll know!
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Old 01-09-2004, 11:45 AM
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yeah I guess your right, I tend to get a little ahead of myself if you can't tell by now

The wife spotted Corian coutertops and kitchen stuff the other day so there goes a big chunk of the $$. I'll have to find an off brand or something

Right now we're trying to decide if we want wood floors or stained concrete. heart pine floors are big right now but pretty expensive too, ah decisions decisions.
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Old 01-09-2004, 12:15 PM
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My suggestion...... Work out a deal with the Contractor about what he is going to do... (his labor) cost per hour. Or what his bid is for what he is going to do. And then work out a deal with subcontractors.. Subcontract price plus 10 to 20 percent for the General contractor to coordinate. YOU handle all the payouts and demand Lien Waivers from material suppliers and subcontractors. I can tell you from experience.... that if you promise the subcontractors that they will get paid the day they finish and supply lien waivers.... they will be a lot more motivated to work on your house than another project! The worst thing that contractors or homeowners can do is try to strangle the workers by not paying them. Witholding money when portions of the work have been done will NOT motivate a contractor to finish faster. Don't pay in lump sums.... pay as portions of the work are completed as outlined in a contract. Most subcontractors will have this outlined in their contracts.... say for cabinets... $2,000.00 down for materials..... $4,000.00 down upon delivery of doors for the cabinets... balance upon completion.... last ten percent upon installation. DO NOT give big lump sums to the general contractor.... I've known too many General contractors that got a big lump sum and paid off bills and went on vacation... thinking that they would make up the shortfall by forstalling payments to the subcontractors until the job was completed. BIG MISTAKE. I even knew a general contractor that bought an offshore boat with his first draw.... go figure! I'd suggest you meeting with the General contractor once or twice a week to go over what bills are due and to whom and You disperse the money and get the lien waivers. Good Luck! ANYONE ... that wants to be paid will gladly drive over to your house with a lien waiver in his hand to pick up a check....
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Old 01-09-2004, 12:20 PM
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yeah your exactly right....great call, I'll do that. It might be harder on them but I can tell you I'd rather be doing the payments then some contractor. And the good thing...I live 3 miles away from where we are building That is very very good advice and I appreciate you helping me out Reed. This is our first house to build and I don't want to be telling horror stories down the road. We plan on starting soon so I'm trying to get as much info as I can.
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Old 01-09-2004, 01:18 PM
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Make sure you get Lien Waivers from his subs!
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Old 01-09-2004, 01:29 PM
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go figure! I'd suggest you meeting with the General contractor once or twice a week to go over what bills are due and to whom and You disperse the money and get the lien waivers. Good Luck! ANYONE ... that wants to be paid will gladly drive over to your house with a lien waiver in his hand to pick up a check.... [/B][/QUOTE]

This is the most important If you dont get them you are still on the hook for the money.
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Old 01-09-2004, 01:43 PM
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Boss Hammer..... I don't know the construction laws for your state.... but I'm sure if you go to a technical book store there will be a publication outlining them.... Do some homework and know the pitfalls of building your own home... and don't be shy about asking questions. Plan pre-contract meeting with the subs and discuss when and how they are going to do their work.... I used to be in the construction business... I know some of the stupid things that general contractors will do... On more than one occasion I've seen people put the cart before the horse. Case in point.. put hardwood floors down.... and then have the painter put up scaffolding on the floors only to damage them..... Spend time getting to know the subcontractors and discuss where their jobs will fall into place and what will make their work easier. Plan a time line of when contractors are supposed to do their work. Too many times homeowners act as general contractors and get the carraige before the horse and then wonder why there are cost overruns and unhappy workers. I've seen homes being built in Ski resort areas,,,, finish work being done inside.... and there aren't even windows in place.... or a finished roof on top of the building, only plastic... in both places,... awful situation. Take care.
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