Re: Infill cost questions
Quote:
Originally posted by max_boost
So I have a friend ......
Who is looking at building an infill project on 50X120 lot so either a duplex or two detached homes.
He's telling me with his hookups he can get it done for $200/sq.ft MAX.
Is this feasible? Average trims I suppose, 9-10ft ceilings, hardwood floors, granite counter tops etc.
Lot: $600K
Tear down: ????
Build: 2000sq.ft X $200 X2. = $800K
Landscape: ????
Garage: ????
Where's the profit here? haha
The profit on projects like this come in two ways...
- Not paying $600k for a 50ft lot
- Being your own general contractor
Otherwise you can expect to break even... if you are lucky.
Re: Re: Infill cost questions
Quote:
Originally posted by sputnik
Otherwise you can expect to break even... if you are lucky.
I think some people look at the advantages even if they break even.
- Custom built house to their taste
- Specific lot location in the city that they're able to purchase for the right price, etc...
IMO, if I'm just breaking even... I'd rather go turnkey. (call a realtor, tell him my budget, then go house shopping, lol)
Re: Re: Infill cost questions
Quote:
Originally posted by sputnik
The profit on projects like this come in two ways...
- Not paying $600k for a 50ft lot
- Being your own general contractor
Otherwise you can expect to break even... if you are lucky.
Yup the $600K is the killer. Sounds like he bought a liveable place that's had some upgrades and maintenance done over the past few years.
He's made a mistake thinking he can tear this place down and do an infill. Should have looked for a $400K place if he wanted an infill in the first place.
Re: Re: Re: Infill cost questions
Quote:
Originally posted by mr2mike
Yup the $600K is the killer. Sounds like he bought a liveable place that's had some upgrades and maintenance done over the past few years.
He's made a mistake thinking he can tear this place down and do an infill. Should have looked for a $400K place if he wanted an infill in the first place.
For run-of-the-mill inner city dirt, $600k is up there. But there are some variables that could justify that price, like a view, corner, across from a park, graded to allow a walkout, etc
Do we know where the lot is?
Re: Re: Re: Re: Infill cost questions
Quote:
Originally posted by you&me
For run-of-the-mill inner city dirt, $600k is up there. But there are some variables that could justify that price, like a view, corner, across from a park, graded to allow a walkout, etc
Do we know where the lot is?
but a special lot should have a special house built on it to maximize value on resale... which you wouldnt get for $200/sqft even with "hook ups" unless those hook ups have to do with the back of a truck :rofl:
Re: Re: Re: Re: Re: Infill cost questions
Quote:
Originally posted by ercchry
but a special lot should have a special house built on it to maximize value on resale... which you wouldnt get for $200/sqft even with "hook ups" unless those hook ups have to do with the back of a truck :rofl:
Dave said it quite nicely here too.
Quote:
Originally posted by C_Dave45
I just meant the quality of house in that area. To put up an infill with nothing but vinyl siding and linoleum floors, is a waste of the land value and you will have poor resale value. Infills in that area are around $250/ft. Doesn't mean you CAN'T build for less. But you don't want to build the cheapest looking house on the block do you?
I think this puts into perspective the amount of work, time, $$$ involved.
Didn't post this up to discourage him, just wanted him to know what he might be getting himself into and not rely on the, my friends friend, so and so can do it for this this. That never works out well lol
Re: Re: Re: Re: Re: Infill cost questions
Quote:
Originally posted by ercchry
but a special lot should have a special house built on it to maximize value on resale... which you wouldnt get for $200/sqft even with "hook ups" unless those hook ups have to do with the back of a truck :rofl:
That's true, in which case we shouldn't be focussing on the cost of the lot (which some were questioning as 'too high'), but instead considering upping the finishing.
Though judging by what's built around here (Marda Loop), there's a lot of shit finishing (and design) going on some pretty nice pieces of property... Shame.
Re: Re: Re: Re: Re: Re: Infill cost questions
Quote:
Originally posted by you&me
That's true, in which case we shouldn't be focussing on the cost of the lot (which some were questioning as 'too high'), but instead considering upping the finishing.
Though judging by what's built around here (Marda Loop), there's a lot of shit finishing (and design) going on some pretty nice pieces of property... Shame.
I've worked in probably over a dozen infills in the Marda Loop area. The last duplex was on 32nd, just behind the station pub and EACH SIDE sold for $1.1 Mil!!!!!!:eek: with a view right into that shitty little lane.
http://goo.gl/maps/r5CCm