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Yes, and no. There are certain ranges that pertain to where you live, but overall, it’s impossible to even ballpark estimate, unless you are familiar with the area.
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The typical ratio of lots to house is 1/3, at least in our area. You buy $100,000 lot, the house itself should be $300,000, for a total of around $400,000.
3)Yes, and no.
Be prepared. Be very prepared. Find an architect. Even if you think that you aren’t going to build that fancy of a house, they like doing smaller projects, too. You’ll more than get your money back for the quality of house you’ll receive.
Make sure that the lot you want is buildable, and get a survey.
Start going to open houses, a Parade of homes type show, a remodeling showcase. Figure out the types of houses you like. Find out who designed them, and who built them.
Start interviewing potential architects and builders. Check records, licensing, references. See some of the homes that they have done, inside and out, talk to former customers.
Get your plan. Look harder at potential builders. Get a bid from your three choices.
Look carefully over the bid, is it all inclusive?
Double the cost of original bid.
Make as many decisions as possible before you ever break ground. It’ll save you money in the long run, and you’ll know what to expect. It also minimizes delays.
This process should take minimally a year, but at the end you should have a lovely one of a kind home.
Some might say, well, you can go and find a builder with 3 options for the countertops, two floor plans, and five colors of carpet to choose from, and it’ll be built in 3 months.
True. But for a little more time and effort, without any more money, you can have a jewel.
I would not recommend being the contractor yourself, unless you can do this as a fulltime job for 3-4 months.
Any other questions, feel free to ask.
fisha-licensed residential contractor and built my own.