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View Poll Results: Custom Build, development build or Buy?
Design and have your own customer house built 12 52.17%
Buy in a development and choose between a couple styles 2 8.70%
Buy a house currently on the market for sale. 6 26.09%
Fernt 3 13.04%
Voters: 23. You may not vote on this poll

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Old 05-16-2013, 09:38 AM  
El Jefe El Jefe is offline
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Housing. Custom build, development build or buy.

My wife and I found ourselves pondering this question. The real estate market (as I have mentioned before) is at a high in our area. Everything we are looking at is a premium price for a mediocre house. My wife's grandfather and Uncle own a construction business, and they have been building houses for ~50 years. I am to the point where I believe I am going to buy some land (acre or two) and have a house designed and built. Fortunately her Grandfather is an architect as well, he designed and built his current house last year. I know with the custom builds they can be very expensive, but I feel I would rather be in a condo for another year and have my house exactly how we want it, than buy a house for less that we really don't love.

The other option would be to buy a cookie cutter home in a development which I really don't care to do. What say you CP? Would you rather buy, build custom, or build templet style?
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Old 05-16-2013, 01:42 PM   #106
Halfcan Halfcan is offline
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Originally Posted by El Jefe View Post
Seeing as how you have the money to combat a problematic home, I think this speaks volumes to what I could potentially encounter should I enter into this type of venture. Thanks man!
I have sold many many custom built homes over the years- and Never even heard of such a thing. Most custom homes have the main plans set and You pick the "options" to Customize it to your taste. Most builders would not put a single water heater in a mansion-lol It is great to have a "design" program and noodle around- but you are Much better off picking a design that has been built before.

Little things like having your kitchen on the oposite side of your garage- people dont think about groceries ect- they just want to brag "we designed it ourselves" Great- but when you try to resale it- you can bet potential buyers will notice all the flaws as Dane describes.

I have also seen people go buy acreage thinking they will build their "dream home" but negect things like a water source, sewer, building codes, land usuage, taxes, electric and gas service- building in a flood plain, building on marshland or sandy earth that can wreck havoc on your foundation. Also consider cliff views- it gets pricey blasting away bedrock.

Best of luck! Most subdivisions will offer custom homes built to suit- based on proven designs. You pick all colors, flooring, ect. Believe me, you will be tired of choices by the time you are done. Pick wisely and think about the future. I had a lady that loved the color pink and her husband just went along- the whole house-EVERYTHING inside and out was pink- even the tubs and sinks. They were divorced a year later and that house sat on the market until it was finally bank owned and gutted.

Good luck!!
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Old 05-16-2013, 01:47 PM   #107
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We spent at least $200k to repair and change all kinds of things throughout the house. All five bathrooms had crummy, cheap tile that was installed directly over drywall, the kitchen was originally 6x9 (which is ridiculous in a 3,500 square foot home), the flat roof was bad, we've added over 50 lights, had to do a ton of plumbing and electrical repair (I added 30 circuits last year alone) and on and on and on.

A good portion that was spent was cosmetic but I'd "guess" that at least 35% (if not more, I'd have to check my records) were "fixes". It was a major drag but we're happy with the results.

And you can thank the mods for my new username. It took me a while to figure out what happened and how to log in!
6x9 kitchen- Did you guys design it yourselves? Well at least the repairs you are talking about are things you can get money back out or have saved you money. Adding circuits so your house doesnt burn down could never be a bad thing-lol Chances are you are money ahead then if you sold it and bought another project.

Are you trying to tell me the Mods would do something like that-LOL
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Old 05-16-2013, 01:48 PM   #108
el borracho el borracho is offline
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Typically, real estate prices are based on "comps"- comparable homes in the immediate area. If there is nothing comparable in the area, it usually devalues the home (even if the home itself is very nice). For example, even if you have a 5,000 square foot mansion with vaulted ceilings, custom cabinets and Italian marble throughout, that home will be devalued if the next largest homes in the neighborhood are only 2,500 square feet and have none of those features.

In short, if he wants to build something at $200 per square foot (good luck staying in budget!), he should build in a neighborhood where homes are comparable to his project and sell for at least $200 per square foot. Or he can live there forever or take it in the shorts whenever he sells.
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Old 05-16-2013, 02:24 PM   #109
DaneMcCloud DaneMcCloud is offline
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Originally Posted by Halfcan View Post
6x9 kitchen- Did you guys design it yourselves? Well at least the repairs you are talking about are things you can get money back out or have saved you money. Adding circuits so your house doesnt burn down could never be a bad thing-lol Chances are you are money ahead then if you sold it and bought another project.

Are you trying to tell me the Mods would do something like that-LOL
The house was built in 1994 and we purchased in 2003. The kitchen is now much bigger (29 foot long) but that came with the expense of routing electrical and plumbing from the master bath a floor above and removing a load bearing wall and replacing it with massive glue-lam beams, concrete and steel. Hillside homes built in earthquake zones are built much differently than homes in the Midwest.

And the house was recently appraised at twice the purchase price, so we're all good.
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Old 05-16-2013, 03:12 PM   #110
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Quote:
Originally Posted by DoucheMcCloud View Post
The house was built in 1994 and we purchased in 2003. The kitchen is now much bigger (29 foot long) but that came with the expense of routing electrical and plumbing from the master bath a floor above and removing a load bearing wall and replacing it with massive glue-lam beams, concrete and steel. Hillside homes built in earthquake zones are built much differently than homes in the Midwest.

And the house was recently appraised at twice the purchase price, so we're all good.
29 foot kitchen- holy cow!! Sweet! Yep sounds like you made a great investment!! I know where I want to stop buy and have some beers- with a hillside view when I am out that way-LOL Sounds like a cool place!
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Old 05-16-2013, 05:40 PM   #111
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I would love to design my own home. Building it would be a pain, though.
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Old 05-16-2013, 05:53 PM   #112
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