I'm curious as to what you were able to find out...my husband and I were just looking at our homeowner's insurance and wondering if we'd have enough coverage to build a new comparable home (we currently have 1000 SF in central Austin) on our lot in the event that something happened. We want to add on someday, but in the meantime have covered what we thought was reasonable for what we currently have (and are paying on).
If you want, I can go through my list of contacts and actually connect you with some of them that might be in that range - let me know by visiting my profile and contacting me through the Trulia form http://www.trulia.com/profile/EricEstate/
and I would be glad to help.
Even though there are lots of builders in Austin, most new builds are around the $100 PSF range or more. Like others have said, it depends on what you want as far as finish outs - flooring, fixtures, appliances, etc.
I'm sorry... ahem... I just haven't heard a good joke in a while. Actually $110 PSF would be considered a good price if you can get it. The builders (the Pro's anyway) are staying plenty busy in Northwest Austin right now.
If they aren't busy and they drive a beat-up truck, I'd steer clear! I'm a contractor turned realtor, with over 21 years in the real estate industry. The prices here are dirt cheap compared to ANYWHERE else I've seen in the U.S. Los Angeles PPSF (Price Per Square Foot) to build, for example, would easily be over $200 and go up from there.
Pippa, if you can get that price to build a home, I'd sure like to see it! Because even the great Wayne Morgan would love to buy some of those deals.
BTW, I'll raise the flag for Pippa - she's well-respected in the investor community here in Austin. A true professional if you are looking for an honest assessment. I'd say it's worth a few minutes of your time to call her and ask questions.
-whether soft costs are included (architects, permits, engineers, etc)
-single story or two (second floor footage is cheaper)
-Utilities - does it need septic, are city connections already at the property?
-Level of finish out (largest variability)
It's very tough to generalize, but I would say that $100-$120 is going to be about your bottom price.
If you want to sell your house and buy another one, I'd be glad to help. You could also contact some builders and find out what a realistic price/sqft is, but you probably will be shocked to hear.
Vivianne Dordea, Realtor
Sierra Homes Realty