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Finished Cost Per Square Foot All Locations : Nationwide Real Estate Advice

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  • Home Selling41K
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Activity 145
Showing results for Finished Cost Per Square Foot [Clear search]
Sonia Munwes…, Real Estate Pro in Glencoe, IL
Thu May 14, 2015
Sonia Munwes Cohen answered:
Hi West Side Buyer,
Hopefully you used a Real Estate Agent and if so than the agent should prepare for you Market Analysis that shows you comparable properties that are for sale and one's that have sold. You can use the square footage of the homes that have sold and determine if you are going to be overpaying for your home. If you didn't use an agent that doesn't mean that you can't walk into a local Real Estate Office and get an agent to help you with this information.
Since the market has declined in the past 3 years you may have agreed to a price that is no longer valid. Maybe you can renegotiate with the seller based on comps in the area.
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0 votes 7 answers Share Flag
The Ultimate…,  in Los Angeles, CA
Sat Jun 11, 2016
The Ultimate Handyman answered:
People like us find construction costs to be reasonable at this levels: $90 to $290 depending on finishes chosen. That being said, I have seen people choose such finishes that ended up costing about $1,200 per square foot! It's all about what you want. ... more
0 votes 9 answers Share Flag
Fontaine,  in Little Rock, AR
Mon Dec 24, 2012
Fontaine answered:
Since there is a lot of rental property in that area, it depends on the condition of the house.
0 votes 7 answers Share Flag
Team Foisy,  in Mount Dora, FL
Yesterday at 2:14pm
Team Foisy answered:
Hello Janie,

Congratulations on your decision to buy a home! I truly believe we are in a great market for homebuyers!

While I am not familiar with DR Horton in Texas, I can tell you that their homes in the Orlando area are of quality comparable to those of other large production builders. You can take a few steps to protect yourself with regard to this purchase:

1. Hire a qualified, licensed and experienced home inspector. They will typically be able to sniff out potential issues with a home. Also, see if there are other homes which have recently sold in the neighborhood and ask those buyers what their inspections turned up. If there is a well or septic tank on site, it makes sense to have these inspected as well. It may also be required by your lender based on your loan type.
2. Hire a licensed termite/wdo inspector. They will check for any signs of insect and/or fungal damage and wood rot, potentially saving you hundreds-if not thousands-of dollars down the road.
3. Ask the seller to provide you with a home warranty and termite bond, if applicable. Both of these will provide you with some level of protection should any issues arise down the road. They are usually renewable on a yearly basis as well. If the seller will not provide these for you, factor them into your offer price and purchase them at or soon after closing.

As for the resale value, check the comparable sold properties in the neighborhood-that will give you a very good idea of what the market demand, and thus the price, of these homes is. It will also help you decide on an offer price based on the market value for the home.

I hope this helps!
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0 votes 86 answers Share Flag
Scott Godzyk, Real Estate Pro in Manchester, NH
Fri Jul 26, 2013
Scott Godzyk answered:
Price per sf is one method that should be avoided to compare residential homes. Because some methods include finsihed basements, others do not and neither accounts for upgrades and amenities, this number can be skewed easily. you need to compare apples to apples, a bpo is best to truely assess what the value is. ... more
0 votes 12 answers Share Flag
Joan Wilson, Real Estate Pro in San Diego, CA
Fri Jun 3, 2011
Joan Wilson answered:
HOAs are high, but they are what they are. If you want to live in the area, that is what you pay. It is a great area. For a price to build, you should talk with a contractor. Usually it is less expensive to buy an existing home than to build. If you need some contractor names, let me know.

Let me know if I can help you in any way!

Joan Wilson (Realtor, SRES, Ecobroker, Certified REO and Short Sale/HAFA Specialist)

California Cool 4 Sale
Prudential California Realty
Direct Phone: 760-757-3468
Fax: 760-946-7894
License # 01341483

It is my Goal to Increase the Success and Profitability of Those I Serve
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0 votes 10 answers Share Flag
Sally Grenier, Real Estate Pro in Boulder, CO
Mon Dec 22, 2014
Sally Grenier answered:
Washer, dryer, and refrigerator are considered personal property and not necessarily conveyed with the house (unless they are negotiated for). It's really up to you. If it were me, I would not spend money on new appliances. What if buyers have their own, and don't want yours? Just say washer & dryer are excluded. (but then you'll have to haul them away when you move). good luck! ... more
0 votes 16 answers Share Flag
Lisa Jones, Real Estate Pro in Westport, CT
Sat Sep 17, 2016
Lisa Jones answered:
THAT is a loaded question because there are so many variables...
Let me give you a range of possibility.
First you must file an application and get a permit for your project to ensure you are not later in a precarious position and perhaps forced to undo what you started. That being said, from the lowest, being and addition on top of a pre-existing foundation, like over a garage, with no bells and whistles (no plumbing, complicated ectrical and minimal inexpensive windows, you can start at $150 a square foot (@$13K with just the basics for a thrifty box) go the detailed and more structurally complex and begin by doubling this, so if you need to dig & pour foundation, want plumbing, nicer windows, internal walls/doors, hardware fixtures...20 - 50K depending on the scope of your project, if you are doing wood shingled roof, copper gutters, french drains, Pella windows, Stickly cabinetry...well, sky's the limit!
Now if this is an add-on element, today's modular pre-fab options may surprise you both in high quality and levels of finishing and they start around $90 a foot!
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0 votes 10 answers Share Flag
Erik Blinn, Real Estate Pro in Chicago, IL
Thu Mar 10, 2011
Erik Blinn answered:

Although pricing varies, based on finishes and location, it usually is between $70-$125 per square foot. When pricing, I recommend getting 3 quotes from different contractors.

Good Luck!
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0 votes 11 answers Share Flag
Boris  Russa…, Real Estate Pro in Weston, FL
Tue Aug 2, 2011
Boris Russanov answered:
Ask your local Real Estate Agent to prepare Comparative Market Analysis for you. This analysis is a valuable and beneficial to you and will give you an idea how much is actually house worth. Always offer less than the asking price. ... more
0 votes 18 answers Share Flag
Ryan Quinn, Real Estate Pro in Philadelphia, PA
Sat Aug 13, 2016
Ryan Quinn answered:
It depends on where you are looking to build. But on average (and I'm being conservative) you can look to build at about $125 per sq ft (sometimes less) and sell for about $250 per sq ft. Again, these are averages, some neighborhoods are higher than others.

I specialize in New Construction Housing in Philadelphia.

Do you know where you want to build or where your clients are wanting to build?

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0 votes 11 answers Share Flag
Thuan Nguyen, Real Estate Pro in San Jose, CA
Wed Mar 2, 2011
Thuan Nguyen answered:
Hi Jovana,

If your agent is a Realtor, he/she should have access to "Realist". It is a tool that is linked with public data. That should help you guys determine what the actually square footage is...

It seems some where along the line, a few of the improvements were not recorded properly.

And "yes," you should confirm all you data/facts before making an offer.

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0 votes 19 answers Share Flag
Linda Dressl…, Real Estate Pro in Schaumburg, IL
Tue Feb 8, 2011
Linda Dressler answered:

What you might have to take into consideration in so far as value if you use the assessed value of other homes in the neighborhood, is that the houses that you are comparing your potential home to might have more finished area over the other - or their land/property is larger or smaller, this would change the values.

If you are working with a Realtor®, they should be able to help you ascertain what is fair market price for the new construction property that you are looking for ~ that is part of what we do! As a buyer, typically you wouldn't have to pay a Realtor® their commission as the seller usually is the one to do that. If you aren't currently using someone to help you, you might consider interviewing some local professionals that will take good care of you. If you need a referral for someone in your area, I would be happy to help you. Feel free to contact me directly.

Thank you and & Good Luck!

Linda Dressler, Realtor®
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0 votes 3 answers Share Flag
Dallas Texas, Real Estate Pro in Dallas, TN
Thu Dec 29, 2011
Dallas Texas answered:
Your buyers agent is person assist you with any real estate purchase whether new home construction, or pre-existing home. Contact your agent

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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0 votes 20 answers Share Flag
Brenda Feria, Real Estate Pro in Richmond, VA
Mon May 4, 2015
Brenda Feria answered:
Everything is relative. It depends on how much a builder is needing to sell the home. If the house is finished, you have a better chance of negotiating than with a new build job. Find a realtor who is familiar with the building process to consult you as to what the fair market value is in that area in today's market. ... more
0 votes 136 answers Share Flag
Ryan Quinn, Real Estate Pro in Philadelphia, PA
Sun Jan 30, 2011
Ryan Quinn answered:
Hi New To Philly,

First welcome to the city, I've lived here for 10 years and I've enjoyed every moment of it so far. I lived in Graduate Hospital for 3 of those years.

There is quite a bit of new construction happening in that neighborhood as well as Northern Liberties (my current neighborhood). If you're North of Washington prices per square foot can be $200 - $250 per sq ft and when you're going South of Washington Ave you can get about $150 - $175 per sq ft.

Depends on how large of a home you're looking for, are you looking for 3 bedrooms or 2?

Sq footage doesn't always include the basement. The basement needs to have an egress in and out of the basement to qualify for livable space.

Here is a website that lists a few statistics on Grad and other areas.

If you would like more information please feel free to reach out to me.

Ryan Quinn
2200 Walnut Street
Philadelphia, PA 19103
215.625.3650 O
215.850.9930 M
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0 votes 1 answer Share Flag
Dan Tabit, Real Estate Pro in Issaquah, WA
Sat Jan 8, 2011
Dan Tabit answered:
Bathrooms are some of the most expensive rooms to add; plumbing, fixtures, tile, plus depending on where you are adding, roof, foundation etc. You'll need to talk to a local contractor with an idea of how big and what will be involved in the addition. If you are considering doing this for resale, chances are good the cost will outstrip the benefit. If it's for your own use, think long term to make the investment pay off. ... more
0 votes 3 answers Share Flag
Amy Mullen, Real Estate Pro in Shrewsbury, MA
Tue Aug 21, 2012
Amy Mullen answered:
Good morning!

The square footage should be calculated by measuring the rooms - not including the common areas such as hallways and bathrooms and not including unfinished areas such as attic spaces. A finished basement can be included but it must be disclosed as being included.

The value of a well developed yard varies and although greatly adds to the marketability of your home it doesn't necessarily add value to a bank appraiser.

Do you have the link to the article? I'd like to read it!

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0 votes 16 answers Share Flag
Judith Cical…,  in Trumbull, CT
Thu Nov 4, 2010
Judith Cicalese answered:
The sales price divided by the square footage of the home. I use this calculation this all the time in my market area (for active listings, then a separate summary for solds). If you take all the homes sold in a particular neighborhood and do an average for $ per SF = this certainly tells a story. There are always going to be some that are less than average and some more (this is obviously determined by the location and the ammenities. It is not an exact science and some agents won't use it but I use it and it certainly shows a homeseller a picture. If you do this for all the homes in your neighborhood ---I'm sure it will show you in a summary perhaps some homes which are overpriced. I hope this helps
Perform this calculation for say the last 3 or 6 months of sales in your neighborhood and you will get an average. Good luck.
Example: Selling Price = $400,000, SF of the home is 2300
$400,000 / 2300 = $173.91 or rounded to $174 SF
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0 votes 4 answers Share Flag
Suzanne MacD…, Real Estate Pro in Morristown, NJ
Sun Sep 4, 2016
Suzanne MacDowell answered:
Oh, I hope this is a law of attraction thing! Ok, I am game, I would want to live in Madison, Chatham or Morristown, New Jersey. I would want to live within walking distance to downtown, but not too close. I would want 4 bedrooms, one for me, one for guests and two to use as separate but adjoining offices for myself and my mate. I would prefer a historic home that has been updated to live up to modern standards, at least in the kitchen (you could leave the claw foot tub in the bathroom, though! Better than a Jacuzzi in my book!) And it would need to be bright and sunny, lots of windows and absolutely a wood burning fireplace and gleaming hardwood floors! Picket fence to keep the pets and grandkids corralled and surrounding a nice yard with either a patio, wrap around porch or an outdoor living area of some type and I would be in heaven! What is nmissing from today's properties, they all look the same! I miss the individualism and charm of older homes! What would it cost? Ooh, there's the rub! I would love it to cost only about $300K, but that really IS a pipe dream, especially in New Jersey! So, let's say, realistically, between $400 and $450K. And let's be sure we address those property taxes! If we could keep those around $3K - $4K per year, but I suppose that is just too much to ask for! ... more
0 votes 8 answers Share Flag
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