New Construction in 94526 - price per square foot?

Asked by Hb2011, 94506 Mon Feb 20, 2012

For new construction in 94526 what is the price per square foot selling for? Older neighborhood with a tear down/re-build.

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Scott Hulen, , 64068
Wed Mar 7, 2012
Sorry price per sq. ft. may be the worst question in real estate! Let me explain and break it down for you as there are many components and there is no standard formula for what goes into price per sq. ft. since everyone makes their own personal deal when building a new home.
Example 300,000 home @ 2400 sq. ft.:
Materials and labor: 170,000
Building lot: 60,000
Bank fees: 3,000 (for construction loan)
Loan fees: 3,000 (end loan)
City Permit and impact fees: 10,000
Developer fees: 3,000
Real estate fees: 18,000
Builder profit: 30,000
Builder overhead: 3,000
Other factors out of pocket expenses such as upgrades did they go towards the overall picture? What if a person is paying cash then there are fewer expenses, some people build their own home, some do not use a Realtor® and the list goes on and on.
Web Reference:  http://www.randshomes.com
0 votes
Yasmine Aust…, Agent, Danville, CA
Tue Mar 6, 2012
Hello,
I have been a realtor in Danville for almost 15 years and I know the area very well. It is not easy to advice you on this without knowing all the details and location of the homes. $300K in renovations is huge. Have you remodeled a home in the past? Are you going to oversee the remodel or have an architect/contractor manage the remodel?? Remodels are stressful. Moving into a new home in an established neighborhood sounds rather wonderful but it really depends... Does the style of the new home fit into the neighborhood or is it an eye soar? Are the surrounding homes nice and will those get remodeled eventually to maintain the value of your home? I would love to help you further as I have remodeled in the past, rebuilt my own home and investments are my specialty.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more