Cost to build townhome/free standing home

[hawee]

Hey guys, just wanted to get an idea of what it cost per sq ft to build a home similar to those found in the montrose, washington, rice military area.

Here's an example of kinda what we were looking at doing http://www.urbanliving.com/listing/cms-developments/peden-views/

[august948]

Can you get a ballpark estimate by taking the selling price of a townhouse you like and subtracting out the land value?

[arche_757]

$225 per square foot.

 

That's what is roughly the "going" rate for construction today inside the Loop.  You'll probably be able to tweak that figure a bit lower depending on what you want to splurge/add on etc. to the plans.  That's not including land costs if you have to buy something, and that may also include demolition fees?

 

And that available home is right at $225 per square foot.

 

3,300 sq ft x $225 = 740,000

[aarosurf]

Keep in mind the builder will earn something like a 15% to 30% margin if the house sells while under construction. 

[august948]

$225 per square foot.

 

That's what is roughly the "going" rate for construction today inside the Loop.  You'll probably be able to tweak that figure a bit lower depending on what you want to splurge/add on etc. to the plans.  That's not including land costs if you have to buy something, and that may also include demolition fees?

 

And that available home is right at $225 per square foot.

 

3,300 sq ft x $225 = 740,000

 

That seems high for just the building.  If you built the same thing in Katy would it still be $225 per sqft exclusive of the land?  I'm not in the construction business so I don't know, but do companies charge more for building on land you already own if the location is inside the loop vs in the suburbs?

 

[arche_757]

That's what it costs.  I am in the business.  Just click the link - that building listed IS $225 per square foot.  And he is asking about the Montrose/Washington Ave area, not Katy.  Certainly the burbs are cheaper!

 

$225 per square foot is what it costs.  If the price these days was $300 per square foot that is what it would cost.  Again, you can find contractors and architects who can design and build something for less than that.  You can tweak things downward.  But in general that is what it costs.  Land is land, construction costs area construction costs.  We (my firm) just priced some things in Houston and its $225 right now +/- a little here and there.  Office construction is cheaper, Kirksey just researched and found that it costs ~ $140 (I think that was the number) per sq ft for highrise construction.

 

Not trying to sound condescending, so please don't think that my tone is meant that way.

[august948]

That's what it costs.  I am in the business.  Just click the link - that building listed IS $225 per square foot.  And he is asking about the Montrose/Washington Ave area, not Katy.  Certainly the burbs are cheaper!

 

$225 per square foot is what it costs.  If the price these days was $300 per square foot that is what it would cost.  Again, you can find contractors and architects who can design and build something for less than that.  You can tweak things downward.  But in general that is what it costs.  Land is land, construction costs area construction costs.  We (my firm) just priced some things in Houston and its $225 right now +/- a little here and there.  Office construction is cheaper, Kirksey just researched and found that it costs ~ $140 (I think that was the number) per sq ft for highrise construction.

 

Not trying to sound condescending, so please don't think that my tone is meant that way.

 

Not in any way taken badly.  Appreciate the info.  Like I said, I'm not in the construction business.  When we were looking at larger houses in sugarland and cinco ranch a few years ago they were running around $300-350k for a 4500 sqft house.  That worked out to in the $70's per sqft including the lot.  Is that because they were in a development and the same house built on your own land would be much more because it's a one-only job for the builder?

 

[hawee]

That's what it costs.  I am in the business.  Just click the link - that building listed IS $225 per square foot.  And he is asking about the Montrose/Washington Ave area, not Katy.  Certainly the burbs are cheaper!

 

$225 per square foot is what it costs.  If the price these days was $300 per square foot that is what it would cost.  Again, you can find contractors and architects who can design and build something for less than that.  You can tweak things downward.  But in general that is what it costs.  Land is land, construction costs area construction costs.  We (my firm) just priced some things in Houston and its $225 right now +/- a little here and there.  Office construction is cheaper, Kirksey just researched and found that it costs ~ $140 (I think that was the number) per sq ft for highrise construction.

 

Not trying to sound condescending, so please don't think that my tone is meant that way.

 

Hey Arche, i appreciate the help on this.

 

Sorry just wanted to clarify if that 225/sq ft is the cost of building + land? if that's the case that home would be selling for almost cost, right?

[arche_757]

I don't know what the land that building is constructed on cost?  In quite a few cases these properties were formerly single family homes that were probably purchased for quite a bit less than what 1 single townhome can sell for in many instances.  These developers/contractors probably have several of these projects around, probably have another nearing construction.  Big business inside the Loop this is.

 

$225 per square foot covers contractor profit + all relevant construction related expenses.  That price covers everything.  Now, don't get me wrong, some of these townhomes or private homes may be spending more than $225 per square foot.  Certainly homes in River Oaks or West U are more per square foot.

 

No doubt the land was aquired cheaper than the cost of said building.  The building was constructed as a 1 of 2, or 1 of 4 + buildings built on that land - so the developer/contractor is recouping their money, make no mistake.

[htownproud]

If you include the cost of the land in the number, then the number will vary from neighborhood to neighborhood (for example, the cost to build in montrose would be higher than the cost in the Washington area). In general, if you are paying $200 per sqft, or more (not including land) then you are building a really nice place with high end finishings.

[GabRay]

Hey guys, just wanted to get an idea of what it cost per sq ft to build a home similar to those found in the montrose, washington, rice military area.

Here's an example of kinda what we were looking at doing http://www.urbanliving.com/listing/cms-developments/peden-views/

 

I realize this question was posted well over a year ago, but I just saw it, AND I saw someone's outrageous "confirmation" that inner-loop construction/build costs were $225 per sq. ft. This is absolutely NOT correct for residential home construction pricing.  

 

The going price for high-end builders, e.g. Heights, Museum District, Montrose, Rice Military is around $110-$125 per sq. ft. For super high-end construction, e.g. River Oaks, Bellaire, West U, the price is around $125 - $150 per sq. ft. depending on upgrades, fixtures, and the size of the project. The price to build in Rice Military would actually be ON PAR with home construction costs in the Montrose. 

 

Someone's "assertion" that 3,300 sq ft x $225 = $740,000 wouldn't account for the NUMEROUS homes selling in the aforementioned areas for well below this dollar amount. You can easily find newly constructed 2,000 - 3,300 sq ft. homes inside the loop from $350-$550K which means build costs are far below this inaccurate assessment.  And, homes in the burbs are cheaper, because mass communities are built simultaneously which enables large builders to have discount pricing on materials and labor.  

 

I'm not including land costs in these numbers, of course, but the assessment that the "land was acquired cheaper than said building" is also wrong. E.g. I bought a 7,800 sq. ft. lot in the Heights for $190K, but the 5 houses cost $1.14M to build.

 

I hope that someone definitely NOT "in the business" didn't discourage you from building your dream home!

[Triton]

I realize this question was posted well over a year ago, but I just saw it, AND I saw someone's outrageous "confirmation" that inner-loop construction costs were $225 per sq. ft. That is absolutely NOT correct for residential home construction pricing.  

 

The going price for high-end builders, e.g. Heights, Museum District, Montrose, Rice Military is around $110-$125 per sq. ft. For super high-end construction, e.g. River Oaks, Bellaire, West U, the price is around $125 - $150 per sq. ft. depending on fixtures, and the size of the project. The price to build in Rice Military would actually be ON PAR with home construction costs in the Montrose. 

 

Someone's suggestion that 3,300 sq ft x $225 = $740,000 wouldn't account for the NUMEROUS homes selling in the aforementioned areas for well below this dollar amount. You can easily find brand new 2,000 - 3,300 sq ft. homes inside the loop from $379-$450K which means build costs are far below someone's inaccurate assessment.  And, homes in the burbs are cheaper, because mass communities are built simultaneously which enables large builders to have discount pricing on materials and labor.  

 

I'm not including land costs in these numbers, of course, but the assessment that the "land was acquired cheaper than said building" is also wrong. E.g. I bought a 7,800 sq. ft. lot in the Heights for $190K, but the 5 houses I built on it cost me $1.14M.

 

I hope someone definitely not "in the business" didn't discourage you from building your dream home!

 

Thanks for the insight.

[Ross]

I realize this question was posted well over a year ago, but I just saw it, AND I saw someone's outrageous "confirmation" that inner-loop construction/build costs were $225 per sq. ft. This is absolutely NOT correct for residential home construction pricing.  

 

The going price for high-end builders, e.g. Heights, Museum District, Montrose, Rice Military is around $110-$125 per sq. ft. For super high-end construction, e.g. River Oaks, Bellaire, West U, the price is around $125 - $150 per sq. ft. depending on upgrades, fixtures, and the size of the project. The price to build in Rice Military would actually be ON PAR with home construction costs in the Montrose. 

 

 

This is BS. Going rate for building in the greater Heights area is more like $150 per square foot or more, with true high end work closer to $200. I had to get quotes on rebuilding our house to convince the insurance company that their replacement rates were too low.

 

[GabRay]

This is BS. Going rate for building in the greater Heights area is more like $150 per square foot or more, with true high end work closer to $200. I had to get quotes on rebuilding our house to convince the insurance company that their replacement rates were too low.

 

 

Ross,

 

With all due respect, I'm a developer currently building twenty-eight (28) residentiaI properties throughout the Houston area including the Heights and in the Houston Museum District. SPECIFICALLY, I'm developing the properties at 1626 W 25th Units A, B, C D & E.  Unit A is 2,349 sq ft, and we're selling the unit at $449,900.

 

This property is high-end, so if your $200 per sq ft assertment was correct ($200 x 2339 = $467,800), I would basically be selling this property for LESS than what it was built for.  How would you account for that?

 

I do understand I'm a developer using wholesale builders, and you most likely received a quote from a retail builder, but anybody quoting you $200 per sq ft to build residential construction is patently absurd. 

 

As proof I've attached a copy of my architectural blueprints from 1626 W. 25th Unit 5 (Unit A).

 

[skwatra]

I've been doing some research as we plan to build around Bellaire. I've heard ranges from $125 to $150, with the $125 for people that built a few years ago.

[GabRay]

I've been doing some research as we plan to build around Bellaire. I've heard ranges from $125 to $150, with the $125 for people that built a few years ago.

 

$125 to $150 is what I'd expect to build in Bellaire. However, you could possibly find better pricing than that. It's going to be a direct cost associated with the square footage your building, and with the upgrades you're looking to add. If it was 2,500 - 2,800 sq ft, and you weren't putting in the highest levels of granite, fixtures, etc. you could find a builder that would do it at $115 - $125 per sq ft.

[ileassear]

$125 to $150 is what I'd expect to build in Bellaire. However, you could possibly find better pricing than that. It's going to be a direct cost associated with the square footage your building, and with the upgrades you're looking to add. If it was 2,500 - 2,800 sq ft, and you weren't putting in the highest levels of granite, fixtures, etc. you could find a builder that would do it at $115 - $125 per sq ft.

 

Hi,

 

I wanted to know are the average building rates $115-125 per sq ft. that you are proposing typically the going rate even if the structures will be smaller, say 1000sf? Thanks for reading

 

-Ike

[GabRay]

Hi,

 

I wanted to know are the average building rates $115-125 per sq ft. that you are proposing typically the going rate even if the structures will be smaller, say 1000sf? Thanks for reading

 

-Ike

 

Ike,

 

Materials cost less when purchasing in volume, so constructing a single unit wouldn't receive this "discount".  I would think the going rate would be around $115-$125 price range for a 1,000 sq ft unit, the upside being that 1,000 sf shouldn't run more than 6 months (labor cost).  Of course, the final cost would also depend on the quality of the upgrades/fixtures, e.g. a Jenn-Air appliance package would run app. $12K, but a GE package would be app. $4K. 

[rbarz]

Let me throw in my two cents:

 

Arche_757 might work in the industry, but he obviously isn't running things at his company, because he is not privy to the actual cost of construction (in 2014 or 2015).  No offense, but it looks like where he works charges $225, and no one knows the difference.  I have friends that are architects and they are unaware of what a "regular" home costs and only know what their builders are charging.  

 

You can expect to pay $135/sf for a non-custom cookie cutter type home (with ok finishes you see everywhere) and upwards of $350/sf for you to sit down with an architecture firm and get a supremely built full custom home with great finishes.  There is room on both sides of those numbers.  You can be your own GC and skimp and plan everywhere and get close to $105/ft or you can go crazy and get the highest end finishes with outrageous things like hand forged cabinet pulls, automation, solar, quad-pane windows etc etc for $1000/sf. 

[bleaver]

Hi all,

 

I hoping for an update on the original question for today.  

"Hey guys, just wanted to get an idea of what it cost per sq ft to build a home similar to those found in the montrose, washington, rice military area."

Could you include cost per sq foot without land cost including west u area?