How do you determine "how much" you can build?

10 years ago

This is going to come out sounding odd -- but I absolutely don't mean it to be offensive in any way. I'm genuinely befuddled.

How did you determine how much you can afford to build / how much you need / etc.?

Did this change much as you built and your budget dwindled?

Did you start with your wants and downgrade as necessary, or did you start with the budget and determine what you could have for that money?

Did you say, "We can build this many square feet", or "We can spend this much money"?

It seems that most people here are building with "all the bells and whistles". I mean, it seems that most of the floorplans are a definite step up from basic. Every floorplan seems to have luxury items like a mudroom, a pantry, luxury master baths, etc. How do you determine just how many of these "extras" you can afford?

I know how my husband and I are approaching the topic:

- We're reading and reading and reading books on what makes houses "work". I've been surprised at how much I've learned. And I'm surprised at how many things in my current house could be better (for example, I have light switches BEHIND my front door -- but until I read about it in a book, it didn't occur to me to write down on my list-of-lists "specify where you want all light fixtures").

- We visited open houses and studied real estate magazines to see what our "wants" sell for ready-made. Not that we're interested in buying an existing house, but to see just what things go for in our area.

- I'm particularly obsessed with measuring rooms that're similar to the ones we're considering so that I can "visualize" whether the size'll work for us.

- Then, after we had developed a clue about what things cost, we made a list of our must-haves.

- We're in the process of prioritizing those must-haves so that if something has to go, the decision'll already be made.

I'm just interested in whether this is how most people approach the task or not.

Still, we're not sure whether our numbers are realistic. We have several mitigating factors, the biggest of which is that we already own our land.

So, how'd you decide?

Featured Answer

phoggie

10 years ago

last modified: 8 years ago

I am only in the beginning process, so will have a lot to learn. But my #1 priority was "age"...I am 70, semi-handicapped and widowed...therefore, I am building a home that I can maintain. It will have 36" doors, lever handles, no steps, walk-in shower, etc.

I have an idea of the building process because my deceased DH was an architect/contractor, so we have built homes before...so I know a bit about the process.

My house will be very modest...I have had all of the bells and whistles in other builds, so I know what I can get along without..such as the big whirlpool tub that I could no longer use, etc...also not doing a fireplace, but will put in an electric one, because we did not use ours very often in our former house. You are very wise making a list of your "musts" vs. "wants"...those are the ones that are nice, but add to the cost.

One place you can save money is lighting. The sky is the limit...but I bought mine at Mennard's when they had 22% off sale. Those are things that can be up-dated later if you or someone else wants to do so. I am also putting in a laminate counter-top for the same reason...and I am too old to be a slave to sealing granite. I am putting in custom made cabinets and was fortunate to find a cabinet maker who can do them cheaper than big box stores...so shop around.

Your lot determines your build because of slope etc.

I sold our former home, so I do not need a loan for this build, but neither do I want to put all of that money back into a house...so I had a set price in my mind and hope to stick pretty well to that. The price SF depends so much on the location of your build. Here in the plains, it will not cost as much as on the coasts.

I am building a 1628 SF, one story on a crawl space. Three bedrooms, two baths, open concept. I was very fortunate that I put on the posts of what I was looking to build and a poster drew up a plan that was very much like what I wanted...I took it to a local architect and he drew it up for the contractor for a $1000 and that is what he is buiding from.

I know this is not popular here, but I am doing 2x4 walls with blown insulation...cheaper to build, doesn't require wider window jams, etc. I have inquired and am told that I will have as much insulation factor this way as 2x6s. I am also doing 8' ceilings instead of 9...why pay for extra heating/cooling, and materials when I do not need them...again personal preferences...and cost savings.

Again, if you have children, you will probably want some kind of a mud room.. and with children, come more food, so you will need some place to store the extra things.

Do you need a basement? Again...age might be a factor...our old joints do give out in time...or at least, most of us. Out former house was 4090 SF and for two people to ramble around in, was not wise...and too much for me to clean anyway. The only time the full finished basement was used was on holidays when the kids came home.

I went with a 30 year shingle vs. 50 year....so there are things that you can adjust according to how long you think you will be using the house.

As my DH always told his clinets, "Make any changes on PAPER, because making changes during the build, gets expensive!"...so know what you want and stick to it.

But for me, it comes down to age, children, musts, budget, location, etc. So good luck and keep us posted on your build.

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