Land & New Construction
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 10 years ago, 03/12/2014
I need ball park allowance figures for a custom home
We are doing a tear down of our long time weekend place and working with a builder on a decent sized home.. His numbers keep going up for the construction and I think his allowances are very low. This is a mid to upper level custom home. The area is somewhat rural -75 miles South of DC. The Builder is down there (15 miles further). He told us that he couldn't believe how cheap it is to build down there.
On 500K (excluding lot and utilities), what would you builders expect for lighting allowance, interior carpentry(built-ins,crown molding, closet system), sound system, appliances, landscaping, tile, cabinet grade, granite, hardware,etc? We are getting hardiplank shingles, sanding seam roof, stacked stone water table, main level hardwoods (sanded in place), etc.
He has no allowance for master closet system, landscaping, $600 for lighting,11K for appliances, to include washer/dryer. He has listed molded plastic for the 3 guest baths.
Is there some sort of percentage for these items?
Any advice is greatly appreciated. House is about 3K sq ft with a 1K basic finished basement.