It's usually best to be prequalified by visiting with your mortgage specialist first, it helps you to narrow your search to homes within your price range. You alone should be able to provide the necessary information. I would defer you to your mortgage specialist as to who it should be filed under.... more
The cost to build an attractive 2 story house in St.Louis MO is approximately $229,036, including a General Contractor Markup of $33,200. Thatâ€™s an approximate cost of $93.06 per sq. ft.
Check it out.
Carl Heldmann... more
I agree with the others, however I would add that you should have a local title company or real estate lawyer do the work for you. To often when it is done with forms from the internet, it's not in the proper format and the county courthouse never records it and the new owner doesn't realize that. It can put a cloud on the title for when you want to sell the property later on. It won't cost much to have it done by a title company. At the same time you may want to consider having them run a quick title search to make sure that there are no liens against the property that your brother is unaware of - for work done to the property in the past (like putting on a new roof), for unpaid taxes, for local assessments (subdivision dues, improving roads, etc). This will help to protect you from suddenly having someone knocking at your door saying you owe them money. If the home has a mortgage on it. Transferring the deed will not get your brother out of the mortgage.... more
The cost per square foot depends on many factors: the cost of the land, the materials and amenities, the standards of constuction, permit costs, the charges from the builder and the market climate at any given time. Your best bet is to find a REALTOR in that area that has deep experience in new construction and have them reseach the market for you. Not all REALTORS understand building and not all builders are the same. Good luck on your new adventure. Once you have lived in a new home it is hard to go back to 'existing' but many people find it a stressful process. I would not advise you to go into it without a competent advocate.... more
What you will want to do first of all is have a floor plan in mind of what you want to build. Then research builders in your area that build that type of house. For example-have you seen any new construction models of the style you have in mind-One Story, 2 Story, Modified etc.? If so check out these builders. I recommend checking with 3 builders who build the style of house you are looking to build.
The price per square foot comes down to many overall components such as: finished square feet, style of the home, the upgrades used, flooring, woodwork/trim, infloor heating etc. I would suggest checking with your local builders association to research the builders in your area.
In Minnesota we have the Builders Association of the Twin Cities. The website is: www.batc.org where consumers like yourself can research builders and remodelers by price range and area. I also recommend hiring an Realtor who specializes in new construction sales to guide you through the process. I myself am a CSP-Certified New Home Sales Professional specializing in new construction. Your agent can help you with: Lot Selection, Financing, Specifications, Blueprint Reading, Allowances and Extras, Legal Documents, Builder Selection, Upgrades/Options, Walk Thrus and Designing for Resale, Home Inspections and the Warranty of your new home.
Keep in mind not all agents specialize in new construction, so be sure to research and ask. A good agent will save you time and money and will look out for your best interest. And it is also important to note that the realtors commission is paid by the builder and is already figured into the sales price.
Lastly, it is also important to note that builders are craftsmen and women and specialize in offering different floorplans, styles and finishes. What one builder offers as an "upgrade" may be another builders standard in pricing.
All the answers are great! Since you have already gotten all the text book answers, I am going to give you an answer from another angle.
However the bottom line is, like everything else, supply and demand really determines the Market Value.
All the comps can do is to give the seller a guideline on where to start; once the price is set, we have have to watch very closely what the market truly is, how much supply and demand are there for the same kind of property in the immediate area.
The house can be priced wit the most accurate comps; but it won't do any good unless there happens to be a buyer for that property at that specific time. If not, then the house won't sell. This is one of the reasons why Realtors will suggest the sellers to lower the price after a while, may or may not be the fact that the house is not worth the list price, but it allows a larger pool of buyers to come in and look at the house; where we might increase the demand.
After that, and if the house sells, the new price might become the new market price for similar property at that time.