Home Buying in Prosper>Question Details

Ray Gee, Home Buyer in Prosper, TX

What is the avg price per sqt feet for a new custom home in Prosper?

Asked by Ray Gee, Prosper, TX Sun Mar 18, 2012

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6
That's a difficult question to answer. It depends on the subdivision and the builder. It kind of runs the gamut from almost $76 for a Gallery Custom in the Lakes of La Cima to more than $132 for a Highland in the Willow Ridge subdivision. Narrow down the subdivision and I can give you a more specific answer. If you are in the process of buying a new home, I hope you have Realtor representation and are not relying on information garnered here to make sure you are getting a good deal. Actual representation is your only safety net. The on site representative works for the builder and is only interested in his company's interest regardless of how he/she presents themselves to you. Realtor representation is free to you and you won't get a better deal without one no matter what the on site rep tells you.

Sam Young
Realtor, ABR, SFR, TAHS
Coldwell Banker
(972)837-0788
1 vote Thank Flag Link Sun Mar 18, 2012
Thanks, not buying yet. Just started the process. Looking at gated communities or very nice master planned.
Flag Sun Mar 18, 2012
It depends on the subdivision, the builder, the upgrades, the lot and more! The Donnell Group has an overwhelming amount of experience working with builders. Let our experience go to work for you today! The builder pays our fee and we will represent YOU! Let Our Family Help Your Family! Call Cheryl 214-207-1159.
0 votes Thank Flag Link Tue Sep 2, 2014
Custom homes vary per sq. ft much more is required in order to render any opinion. Depends on size of property, community restrictions, quality of products used and much more !

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Tue Mar 20, 2012
Really dislike this question; cost per sq. ft. does that include lot? Developer fees, city impact fees also real estate fees can vary. Here’s the example: 200,000 home at 2000 sq. ft. Breaking it down: lot 40k, developer fees 2k, city permit 6k, city impact fees 2k, builder profit 20k, real estate fees 14k, bank fees to builder 6k, labor and materials 110k, so what is the price per sq. ft.? Labor and materials 55.00 a sq. ft. or the total cost of 100.00 per sq. ft.? Maybe the worst question in real estate since there is no standard criteria for answering the question. But I hope this helps you. Find a Realtor® which truly understands new home construction and has been there and done that to guide you through the process.
In response to Melissa’s “it cost you nothing” comment I get so tired of it cost you nothing to have representation answer. It does usually cost you indirectly, as a builder when I have an unrepresented client and when they ask directly, I deduct 3%-6% off the cost of the home depending on the subdivision. The money is “built in for agent commissions” but it is a fee just like all other fees & cost associated with building a home. (See above) Now having given you the truth about costs let me give you the pluses of having a good Realtor®. If you are doing a new construction build job the Realtor® can be the perfect teammate; they will offer sound advice and give you guidance into finding other team members which can help the process go smoothly. The good ones usually know price is not negotiable but upgrades are and can help you get a better deal. Also since they are familiar with new construction they can help protect you from gouging from subcontractors and assist you in keeping a budget. They also will make sure your interests are protected since they have a fiduciary relationship with you. This requires a ton of work (at least 10 meetings) so interview several Realtors®, pick one with new construction experience, and finally pick a FULL TIME Realtor®. In addition if you are interested in an inspection from a third party expect to pay 1500.00-2000.00 dollars for an inspector/ architect / engineer to be at all city inspections and be active during the process of building the home (this is a good idea), the builder should have no problem with this type of inspector but they may have a huge problem with a non-credentialed inspector coming in after the home is complete and making judgment calls about items they know little or nothing about. Realtors® love home inspections because it reduces liability to the Realtor® if a problem arises. In our state we make clients sign a waiver if they do not want in inspection CYA. Good Luck!
0 votes Thank Flag Link Tue Mar 20, 2012
Ray,
Price will vary greatly. Average....probably $110 on a custom home. It all depends on lot size, location, and finish out. You might be able to build on a 1/5 acre with very basic finish out in the 70s/sqft range. High end finishes with lots of custom work might run in the 150s/sqft.
It will depend on things like carpet vs wood....what kind of wood, what kind of carpet.
Do you want factory cabinets or handbuilt on site.
Do you want thick slab granite in custom color or Wilsonart counter tops.
Do you want crown molding...where...4", 6" or layered....
What kind of appliances....GE from Lowes, or Wolf, Thermidor, Bosche, and Sub-Zero.

ALWAYS ALWAYS ALWAYS use a Realtor. You can see a small list of big things that can go wrong. When they do and you're on your own, get ready to get railroaded by the builder. Often when you have a realtor in your corner, this mistakes get rectified or resolved. Check out the link below.
0 votes Thank Flag Link Mon Mar 19, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
I agree with Sam. You definitely want to have a Realtor represent you when you are ready to buy a home. Buyer Representation doesn't cost you anything, and having an agent to represent you and your best interests is the key to getting the best price with the least amount of problems. Builder Sales Representatives in model homes are not looking out for your best interest...but instead looking out for the best interest of the seller/builder.

Additionally, your Realtor will likely recommend having a 3rd party home inspection. The builder will tell you that you don't need one because you get to walk the home with their builder representative. However, the people actually doing the work are contractors and there have been plenty of issues with things not being done right in new construction.

Hire a Realtor and get a home inspection from a 3rd party. You will be glad that you did!

Melissa Hailey - North Texas Top Team, Realtors
Coldwell Banker Jane Henry Realtors
214-418-0180
Melissa.Hailey@ColdwellBanker.com

http://www.linkedin.com/in/melissahaileyrealtor
http://twitter.com/#!/melissahailey
http://activerain.com/blogs/mlshailey
0 votes Thank Flag Link Mon Mar 19, 2012
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