Crazy Inflated Home Construction Costs?

[Cookiemonster1]

Makes sense Pineywoods

[Bill]

Are the inflated home building costs affecting home insurance prices yet? If a house was destroyed in a fire for example, it could cost $100k more to replace the home versus a year ago. I'm wondering what kind of adjustments they are or will be making.

My understanding is your homeowners policy has a $ value. That’s what you’d get in a total loss. Costs more- you’re hosed.

I pay extra premium for coverage with actual replacement costs. A property casualty agent please chime in.


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[canterlot]

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[Tony Pic]

In a few weeks I will be starting the journey of putting a home on my Harper property. Well , septic and talking to builders. Hopefully sign some papers and write some checks.
We pushed it back a year because of rising costs. At this point, yes it will cost more. But time I cannot buy. The clock is ticking and I am getting older, so is the wife. So I will have less money... that is for sure. I can wait and maybe save a few bucks. But I cannot buy back the time I have spent...waiting. I am gonna buckle up, expect sticker shock and try not to pass out with what the prices for stick built are going to be.

[stickemhard3]

In a few weeks I will be starting the journey of putting a home on my Harper property. Well , septic and talking to builders. Hopefully sign some papers and write some checks.
We pushed it back a year because of rising costs. At this point, yes it will cost more. But time I cannot buy. The clock is ticking and I am getting older, so is the wife. So I will have less money... that is for sure. I can wait and maybe save a few bucks. But I cannot buy back the time I have spent...waiting. I am gonna buckle up, expect sticker shock and try not to pass out with what the prices for stick built are going to be.

The price of building a house isn't as bad as people believe if they can GC it themselves. I am building my house for a little over $100/sqft right now and my wife has picked out some really nice things like the front door and quartz countertops. Also, our house design is a little more extravagant than I originally wanted but we both really like it so we went with it.

[Bill]

A GC adds some percentage to the building costs (I don’t know-somebody chime-in) , but the lumber, concrete, sheetrock, windows, exterior material, roofing and everything else have soared in price.

If you have the time to do it (with your job), knowledge and can find/ manage all the subcontractors to build then do it.

I’m curious what type of home design, construction (stick framing?) and finishes can be built anywhere for $100 pet sq ft? Are you using US citizen labor?


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[Bill]

I’ll add labor costs have increased as well.

I’m interested in what your home design is that can be built for $100 per sq ft.


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[ATXRaider83]

A GC adds some percentage to the building costs (I don’t know-somebody chime-in) , but the lumber, concrete, sheetrock, windows, exterior material, roofing and everything else have soared in price.

If you have the time to do it (with your job), knowledge and can find/ manage all the subcontractors to build then do it.

I’m curious what type of home design, construction (stick framing?) and finishes can be built anywhere for $100 pet sq ft? Are you using US citizen labor?


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Probably 10 to 15 percent. And that's the g c markup on the total price you also have to figure that Subs are marking up what their work is to. I would also venture to say that 90% of homes built have illegals involved. That's just what construction is. And the guy that's says otherwise just doesn't know that his subs are all or partly illegals.

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[Capt.Brown]

The only thing that will drive down prices is a downturn or higher interest rates. There’s such a demand right now and interest rates are all time lows.

[Bill]

I’m still intrigued by a $100/ sg ft home design with nice features like you mentioned, even if you GC the project and direct hire the subs and purchase the material and finishes yourself.


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[jshouse]

I’m still intrigued by a $100/ sg ft home design with nice features like you mentioned, even if you GC the project and direct hire the subs and purchase the material and finishes yourself.


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same here.

[ClayW]

Probably 10 to 15 percent. And that's the g c markup on the total price you also have to figure that Subs are marking up what their work is to. I would also venture to say that 90% of homes built have illegals involved. That's just what construction is. And the guy that's says otherwise just doesn't know that his subs are all or partly illegals.

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I think you’re missing a few percentage points here.

In my experience, it’s double ( if not triple) that amount.

[Throwin Darts]

The price of building a house isn't as bad as people believe if they can GC it themselves. I am building my house for a little over $100/sqft right now and my wife has picked out some really nice things like the front door and quartz countertops. Also, our house design is a little more extravagant than I originally wanted but we both really like it so we went with it.

Please update this post when you finish

[Chew]

We are in the planning stage for a small (1800 sq ft) metal home and are being told around 140sq. Was also just told the price of steel may be going up another 30% in november.

[rferg84]

We are breaking ground in the next week once the appraisal comes back.

We are at 170/ft for 3800 sq ft.

If you factor in concrete and an additional carport it's closer to 180/ft.

We aren't super high-end but it is a custom build on our land.

I feel like it's not that inflated from what I anticipated.

Time will tell once we start locking in prices but our bid is based off recent real numbers from suppliers.