average price per square foot luxury new construction farifax county va?

Asked by Golfgirl, Vienna, VA Fri Mar 18, 2011

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John Fitzger…, , Fairfax County, VA
Fri Mar 18, 2011
What's a "luxury" home? Is it built by a high-end production builder, such as Craftmark, or is it a totally custom home by, say, Sagatov or someone of similar ilk?

As a retired builder, for the latter type of home, the cost per square foot starts at $400.00 and can easily go over $550.00 per square foot. For finish: do you like tumbled limestone, or imported Carrera marble, just for instance? For mechanicals, do you insist on a whole-house ventilation and heat exchanger system, or will you be satisfied with ordinary bath and laundry ventilation systems. For exterior materials, do you insist on, say, polished granite as a moisture barrier between the basement or slab foundation level and whatever you choose as an exterior finish above this level? I know this is not a clear-cut answer, but different people consider different homes to be luxury. To clarify, one final question: do you consider a $2,000,000.00+ 7,500+ square foot home built by Craftmark in Evans Farm to be a luxury home or the highest of high-end production homes?
1 vote
Myersjulie31, Home Buyer, Blakeslee, PA
Sat Nov 8, 2014
If you are wanting to get a luxury home built, it would probably depend on things that you want in the home. It can also probably depend on the builder and the type of materials that he uses. However, I do think that luxury homes are really great, my parents are about to start building one. I think that it will be really great for them and they will really enjoy having it! http://www.simmshomes.com/communities
0 votes
Erik Weissko…, Agent, fairfax, VA
Tue Mar 22, 2011
Golf Girl,

You question is a good one...and I presume you are trying to compare a few builders. Perhaps you have the land or are buying the land. I have handled a number of these including Sagatov as mentioned below. John's answer is quite comprehensive and on the mark. Also, let's not forget to factor in how the builder works with you! I know a number of folks who have gone it alone and would NEVER use the same builder again. Including myself!! You must set expectations. The building process is exciting but can also be daunting...with cost over runs etc. Get a good agent..to help you with the builders and or land aquisition and all the questions that go along with it. This should be an exciting experience!

Let me know if I can help.

Kind Regards,

Erik J. Weisskopf, ABR,CDPE,CRS,GRI
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Jo Ann Marca…, Agent, Ashburn, VA
Fri Mar 18, 2011
The other agents had some very valid points that I agree with. Another factor would be what the builder's costs for acquiring the land. Was it necessary to tear down a home, or remove trees? Most important is the location of the new home. Not all neighborhoods in the same town are the same. In real estate, location is the key factor. A lot with privacy, near the metro, on a quiet street, will sell for more than the same home on a busy street with no privacy and a lot of traffic congestion. Buyers want the comfort of the country with the convenience of the city and will pay a higher price for it, thus yielding a higher per sq ft price. LOCATION and neighborhood are key.
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Lauren Smerb…, Agent, Springfield, VA
Fri Mar 18, 2011
if you already have the land...MINIMUM price per square foot would be $150-$200 for a nicely appointed home with no bells or whistles, like the others said this price is entirely dependent on what you put in the home, both exterior and interior finishes. This price can go way up real quick with more expensive treatments.
Web Reference:  http://www.kustomkastles.com
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Lauryn Eadie, Agent, Reston, VA
Fri Mar 18, 2011
Both John and Jay are correct, we would need you to give specifics to accurately give you an estimate on your question. Another variable would be land...if the home is sitting on 1 acre versus a 1/4 of an acre this will skew the results as well. If you can give us a better idea of what you are thinking/looking for in the home we can give you a more accurate figure.
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Jay Seville, Agent, Fairfax, VA
Fri Mar 18, 2011
You need to clarify if you're talking about single family homes or condos? Then your question can be answered more effectively by taking solds homes in MLS past year from your price range (cost per sq ft varies depending on how big a home you are talking about such as the difference in a 700-900 price range versus a 2-3 million dollar custom property). So clarify that as well for a more accurate response from one of us.

One thing is for sure with new construction is it not in the buyer's best interest as a consumer advocate to go directly to a builder and buy a house. You have no leverage for negotiating best price.

My short video below explains the new construction negotiating game.

If you clarify those items above I and other agents can answer more in depth for your situation.
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