work it out backwards

by Phil Nicols
(Ontario Canada)

www.groupmax.ca

www.groupmax.ca

call excavation company - ask how much to dig the basement and if they will pour the foundation -- or of they know of someone they work with that will.

get a price from each of the trades this way, then add them up.

then work it backwards eg 2000sf x 120/sf -- is your cost about the same?

from that, start to build a budget on paper first. List all the trades, their quotes, then go back and ask again, see if you can get better price etc.

at the end of the budget, add 20% contingency. If you are good, you should fall within this range. Depends how fancy you want to go you know? you can have marble counter tops or linoleum. A 2000sf house can cost 200,000.00 or it can cost 500,000.00 depending on the finishes (not including land)

some things might cost more initially but save you money in the long run like GeoThermal HVAC system - might cost 25,000.00 (this was written in 2009) but will save costs in the long run.

don't know all the trades? call an architect. tell them what you are planning to do. they should know trades.
usually one knows the other though.

excavators know the framers, know electricians, and plumbers, and drywall guys, roofers, bricklayers, carpenters, windows and doors (thats the worst part) the kitchen and bathroom guys, then you need flooring, landscaping, HVAC, clean up crew, you know?

lot levies are usually overlooked, legals, curb cuts if you have a lot in an urban area, sewer and water hook ups intown, out of town you also have to consider wells and septic systems, and testing for that before you buy the land.

Ive been in real estate for 20 years. sold land to home builders, family has built a few houses. E-mail if you need land or other.

best, Phil

info "at" groupmax.ca

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Oct 05, 2015
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