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Anyone have a ballpark idea of the cost per square foot to have a custom builder build a home on a lot that you own? I'm just looking for rough numbers. This would be in the Spring Valley area of Houston. Looking at the houses in the area, it looks like lots are averaging about $600,000, whereas new builds are somewhere between $1.2 and $1.4 million. That seems to be a pretty big delta, and I'm wondering if there is a spot in between to buy a lot and have a house built.
If anyone has done this and is willing to share their experience, I would appreciate it.
I do build on your lot financing for custom builders($400K and beyond), so I see a few of these.
At that price point $90 a foot air conditioned gets you a decent house, cheap granite, mid grade appliances, maybe 900 sqft of hard woods, builder grade fixtures, a sufficient AC system, and a sufficient elecrtrical system, and a reliable builder. Now in that million dollar range you are not going to be happy with the 5000 sq/ft house on the half million dollar lot that $90 a foot gets you.
For that type of build I regularly see prices in the $125-150 range. Nice Granite, all hardwoods or high grade floor carpet, high-end appliances, outdoor kitchen, CAT-6 in home network, media room, high grade wall finishes, stacked moldings, all custom cabinets, high-efficiency windows, doors and AC, electrical service with multiple open slots and plenty of extra amperage available, and most importantly
a special builder name.
So while you may be completely satisfied and happy with a 5000 square foot builder grade custom, it is not going to command the same kind of value as a true custom home.
A good plan violently executed now is better than a perfect plan executed next week.
-George S Patton