New home construction costs?

[catalac]

Was considering building a new home on a serviced acreage, medium grade so to speak such as quartz counters, vinyl plank, mid level fixtures, floor heat, finished basement and garage, no appliances, no landscaping. We worked with a local builder to develop a plan 4 bedroom, 3 bathroom, 1500 sq ft bungalow. Quote came came back at $500ft main $75ft basement, garage finished.

Is this the state of affairs in Alberta a contractor charges to build a house? He was also transparent with his margin 15%, is this a hose job or bad time of year? should I wait for Feb to get a quote?

 

[Tchetek]

probably legit. Price of everything has gone up 30% or more. Building codes have also changed increasing costs also.

 

[rknight111]

Maybe @tko sled ed can chime in here he is a homebuilder in the stony plain area.

 

[ABMax24]

So to get this straight, $500/sqft for the main floor, $75/sqft to finish the basement, so like $862,500 to build a 1500sqft house?

 

[catalac]

So to get this straight, $500/sqft for the main floor, $75/sqft to finish the basement, so like $862,500 to build a 1500sqft house?

Ya actual quote was $890,625 all in for the structure with 26x26 attached garage, as we already own the acreage. The only stupid options we spec’d were hardy board exterior which was itemized at $45K more than vinyl and a sunroom for half the deck. I realize too we have a higher costs as site is 35 mins out of red deer, but just trying to get feel before I try for a competitive quote whether it’s worth bothering.

 

[ABMax24]

Ya actual quote was $890,625 all in for the structure with 26x26 attached garage, as we already own the acreage. The only stupid options we spec’d were hardy board exterior which was itemized at $45K more than vinyl and a sunroom for half the deck. I realize too we have a higher costs as site is 35 mins out of red deer, but just trying to get feel before I try for a competitive quote whether it’s worth bothering.

Gross. FWIW a coworker built a house 4 years ago for just shy of $200/sqft. Unfinished basement, but came with a 22 x 22 garage drywalled and taped. Quart countertops, laminate flooring. This was in the city though.

They too found custom expensive, and picked an existing design from a builder and modified the interior layout to suit.

Ours was $175/sqft in 2017. Turnkey spec house. 22 x 20 garage, unfinished basement, vinyl siding, quartz, tile and laminate.

I get travel time and increased material costs, but that's just insane.

 

[blastoff]

It don’t pay to build new
Everyone Tom Dick & Harry are gouging using covid as an excuse. I would buy an established place unless prices came back in line like at least $250.00 a foot or less don’t know if that will happen soon or at all. That’s why buying a place already done then do some mods.

 

[Tchetek]

Build a ridiculously small house and a real big garage!

 

[Tchetek]

Gross. FWIW a coworker built a house 4 years ago for just shy of $200/sqft. Unfinished basement, but came with a 22 x 22 garage drywalled and taped. Quart countertops, laminate flooring. This was in the city though.

They too found custom expensive, and picked an existing design from a builder and modified the interior layout to suit.

Ours was $175/sqft in 2017. Turnkey spec house. 22 x 20 garage, unfinished basement, vinyl siding, quartz, tile and laminate.

I get travel time and increased material costs, but that's just insane.

I’m not that surprised. I don’t think you can build equivalent to what you could buy for the dollar now for rural properties.

I’m interested at a current cost but 1500 sq Bungalow vs a city 2 story will increase the cost considerably . Then a bungalow on an acreage probably has 35 windows vs 8ish widows like a city lot. The deck probably kicks ass if they are planning a sun room for part of it, So the roof is probably covering more sq, ft.

Boiler systems & Infloor heat, especially if it is including the main floor, is an add expense as a luxury, the house will still require the same hvac to move air, furnace or fan coils.

But if you bought an 8x20 F-150 to live in for $100 grand it would cost you $625 a sq ft.

 

[brianm]

Where are you looking at building?

 

[Chump]

Costs pre covid were approx $250 a foot for a 2 story, $300 per foot for a bungalo. I would hope I can still build a house myself a 2 storey with higher end finishings for 300. Helps being in the industry I guess. Hardy is definitely a worth while upgrade. But an additional 45g? Seems high. Builders soak people on there mark up. Not uncommon to see 20-30%. 900g for a 1500 foot house and shop seems very high.

 

[ABMax24]

I’m not that surprised. I don’t think you can build equivalent to what you could buy for the dollar now for rural properties.

I’m interested at a current cost but 1500 sq Bungalow vs a city 2 story will increase the cost considerably . Then a bungalow on an acreage probably has 35 windows vs 8ish widows like a city lot. The deck probably kicks ass if they are planning a sun room for part of it, So the roof is probably covering more sq, ft.

Boiler systems & Infloor heat, especially if it is including the main floor, is an add expense as a luxury, the house will still require the same hvac to move air, furnace or fan coils.

But if you bought an 8x20 F-150 to live in for $100 grand it would cost you $625 a sq ft.

Absolutely there's adders in that bungalow, still seems like a lot though.

I do agree on acreages right now. By time I buy the land I want and build a house I'm knocking on the door of a million. Or can buy something similar already built, without the headaches building a house creates, for $800k.

Either way we're not doing it with current mortgage rates. But still would suck to build a nice house and take a bath on resale if you needed to get out of it.

 

[Chump]

My parents in calgary just paid 50g for full Hardy on a bungalo with removal of existing vinyl. 45g for the upgrade is out to lunch

 

[jhurkot]

ch!t. I just bought an acreage and the house needs to be destroyed. Tempted to wait a few years to build but it will probably just get worse.


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[Cableguy]

I have heard the okanagan is up to $750 a sqaure foot now
last couple houses we built i had builder take to lock up and then i took over completion and hired all my own trades for the finishing
kept that 15% top up in my pocket

 

[ferniesnow]

I have heard the okanagan is up to $750 a sqaure foot now
last couple houses we built i had builder take to lock up and then i took over completion and hired all my own trades for the finishing
kept that 15% top up in my pocket

We bought a new house in 2019 in Salmon Arm. With the above price to build (in the Shuswap we are a little bit cheaper than the Okanagan) our present house would have a 100% mark up. 1645 sq.ft. x $750 = $1.23 million. Apparently, neighbours who have been looking have confirmed the higher prices. It is craziness.

 

[Cableguy]

ya its nuts right now
when i first got married in ktown we were framing standard 1500sq ' houses for $12-15000
those same houses are $80g minimum to frame and thats just labour

 

[Lunch_Box]

Im glad I built when I did 4 years ago, hate to imagine what it would cost to build right now. Cant see it getting better though, the amount of new Canadians coming in looking for homes is insane.

 

[ippielb]

We are building a 60wx80lx20'celieng with a 16'w lean for office/storage/mechanical/bathroom. And we opted to get a second story on top of it, so its 18' high on the lean with a pitch change on the roof. Figured we could make a living quarters up top in the shop. But hearing the prices on everything makes me feel like that second story is going to be empty and unfinished for a long time now...

 

[Tchetek]

@ niner. What do those big barns run a sq ft?