Custom home prices vary wildly due to many variables, not the least of which is location. However, in order to provide you with some concrete numbers, letâ€™s take a look at one of Renoâ€™s larger custom home developments, ArrowCreek. ArrowCreek is a Master Planned Golf Community containing a nice mix of production, semi-custom, and custom homes. For the sake of this quick analysis Iâ€™ll use $1M as the cut-off between production and custom homes. Sure, a couple semi-custom homes may sneak into the mix, but at least this will provide you with a pretty good idea.
Recent ArrowCreek Solds (Iâ€™m going back 4 months for these figures)
Price median $/sq.ft. # homes Sold
$1.0M - $1.499M $312.65 (12 units sold)
$1.5M - $1.999M $365.79 (6 units sold)
$2.0M and up $406.79 (1 unit sold)
One thing to note: Reno doesnâ€™t see many homes sell for over $2M. In fact, only 17 homes over $2M sold in the resale market in all of 2006. In the first half of 2007, weâ€™ve had 9 homes sell for $2M or more. So, it looks like weâ€™re on track for a similar total.
After I ran the above analysis for ArrowCreek, I decided to perform the same for all of Reno. The results are:
Price median $/sq.ft. # homes Sold
$1.0M - $1.499M $312.82 (34 units sold)
$1.5M - $1.999M $410.62 (17 units sold)
$2.0M and up $417.46 (8 units sold)
Hope this helps.
$175 to $300 a sq ft. Many factors go into it ... Home Depot or Lowe's cabinets or custom design and built, laminate flooring or real hardwood or travertine tile. plumbing fixtures, lighting fixtures, etc. etc. etc.
It really depends on how "custom" you want. Your best bet is to get your design and talk with an architect to lay it out. Then talk with different contractors to find out there recommendations and present you with a itemized list of supplies, fixtures etc. based on those recommendations. Then pick the contractor works with best you best and start tweaking your plans. When you put together your budget add 15% to 20% for those last minute "You know I think I like this better" changes mid stream. Worst case scenerio, you can the extra on landscaping if you don't need it ;)
Anyone quoting you $300 to $500 are builders or real estate agents. This is unless your putting gold fixtures in every bath room and using gold leaf paint on the walls.
The insanity has got to stop. The bankers are not ripping people off its the builders and real estate agents.
good luck. if you have money you should be in the drivers seat.
Your buyers agent is professional direct all your questions to who is representing you therefore you can confirm you are obtaining the best price the home purchase
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
we are looking for 3,000- 4,000 sq for home, it must have u-shape with each master wing having an on suit bath 2 baths for each of the 2 bedrooms in each wing .
Is that the righ way to baseline semi custom contruction / materials and labor.
Said another way......how much gross profit is each one of the builders looking to make on a semi custom home in the south surburban area - arrowcreek, Montreux, St.James woods etc. in he ~3500 size range?
You can probably build something on a .5 acre lot that is easy to build on and acrchitecturally complex with moderate material seclection from the high $200 per square foot all the way up to around $600 for eleborate finsih and details.
If you have a specific area of Reno that you are interested in I can provide more details for that area..