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Having Your House Built - Page 4

post #46 of 56
Quote:
Originally Posted by Piobaire View Post
Sorry, not getting an architect.

Why rule out getting an architect?

Imagine you've got to wear the same suit every day for 20 years or more, would you rather it be:

OTR ("cookie cutter" pre-designed house)
MTM ("custom" house that is a collection of largely topical options)
Bespoke (a singular house responding to its site and to you, the client)
post #47 of 56
Piobaire, having seen friends and family members do this and having gone through some major remodels myself, my sense is that it's a huge pain in the butt for a while (and it will, of course, be a longer while than you hope for going in) but the long-term rewards can be huge.
Also, how much of a pain probably depends in part on your personality. If every little f**ck-up or inconvenience will make your blood boil *cough*rdawson*cough*, it may not be worth it. If you can treat it as a process that is interesting and challenging in its own right and accept that snafus and delays are part of that process, you may find it really rewarding. Of course, you should ensure that even significant cost overruns and delays won't put you in genuine extremis, which could really ruin the experience for you. At the very least, it'll be fun to follow your progress in the "things that are pissing me off" thread.
post #48 of 56
Quote:
Originally Posted by Huntsman View Post
That's horrific. And why so much for a permit? Ours was $90 -- are you building in Malibu or Peapack-Gladstone?

Permits in Malibu are an illusory cost, because they never actually get issued.
post #49 of 56
Quote:
Originally Posted by lawyerdad View Post
Piobaire, having seen friends and family members do this and having gone through some major remodels myself, my sense is that it's a huge pain in the butt for a while (and it will, of course, be a longer while than you hope for going in) but the long-term rewards can be huge.
Also, how much of a pain probably depends in part on your personality. If every little f**ck-up or inconvenience will make your blood boil *cough*rdawson*cough*, it may not be worth it. If you can treat it as a process that is interesting and challenging in its own right and accept that snafus and delays are part of that process, you may find it really rewarding. Of course, you should ensure that even significant cost overruns and delays won't put you in genuine extremis, which could really ruin the experience for you. At the very least, it'll be fun to follow your progress in the "things that are pissing me off" thread.
Major remodels are way more of a clusterfuck than new construction, especially when it comes to unexpected costs.
post #50 of 56
Thread Starter 
Thanks for the intelligent input this morning gents. I think I have put this project on hold for at least a year, maybe forever. Sadly, as so much in life does, it all comes down to money. I never thought the price for a desireable piece of dirt can hit a million bucks, but apparently it can. Just for a couple acres of dirt!
post #51 of 56
Quote:
Originally Posted by Piobaire View Post
Thanks for the intelligent input this morning gents. I think I have put this project on hold for at least a year, maybe forever. Sadly, as so much in life does, it all comes down to money. I never thought the price for a desireable piece of dirt can hit a million bucks, but apparently it can. Just for a couple acres of dirt!

I would try again but with a designer more in touch with your budget.
post #52 of 56
Thread Starter 
Quote:
Originally Posted by johnapril View Post
I would try again but with a designer more in touch with your budget.

Thanks for the suggestion, but I do not think another designer will help. He/she can't change the price of desireable lots in this area at the moment. You are right though, it is simply my budget. When the dirt is going to cost 700-800k more than I thought it would, before my rather painful enlightenment, it is just not something I am going to get myself into at this juncture. I'll just sit back and watch the market as I will not be surprised to see the price of dirt fall over the next year or so.
post #53 of 56
Or instead of having a house built for you, you could just wait for one you like to go on the market. There are a lot of people who overbought and now their ARMs are readjusting at higher rates than they can afford right now.

You could definitely pick up a pretty nice house that way.

Plus, a lot of developers overbuilt in the past few years, so there should be a pretty good supply of new houses on the market right now.
post #54 of 56
Quote:
Originally Posted by Piobaire View Post
We live in a very nice city, but there's a bunch of old hippies running the local government that think if they don't build roads, and make housing starts freakishly expensive, no one will move here. The plan does not seem to be working

Who needs a road. Buy a hummer!
post #55 of 56
Thread Starter 
Quote:
Originally Posted by Bradford View Post
Or instead of having a house built for you, you could just wait for one you like to go on the market. There are a lot of people who overbought and now their ARMs are readjusting at higher rates than they can afford right now.

You could definitely pick up a pretty nice house that way.

Plus, a lot of developers overbuilt in the past few years, so there should be a pretty good supply of new houses on the market right now.

That is the sort of stuff going through my mind right now. Then couple that with what will happen to my appraisal the a project like this, and I could actually end upside down on a construction loan! That would not be a pretty sight.

Also, a re-sale might have the backyard finished, or at least partially finished. Pool, spa, pavers, outdoor kitchen...that all starts to add up fast too. I refuse to over buy just because I want something badly. That's what (obviously) has all those people with ARMs coming due in trouble atm.

I think patience is the answer here.
post #56 of 56
I actually just buy a house and made it renovated, seems very hard at first but when it finished all the effort and money I spend is worth it.
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