Building In Ventura County CA

[Bill B.]

Hi,

We own an agricultural parcel free and clear.  We are contemplating building on that farm.  This is NOT an investment to sell, it would be the primary residence for my wife, our son, and my elderly parents.  So, we intend to have two "masters" or a granny flat.

questions:

1.  What is the general process?

2.  Where can I find construction financing?

3. How does construction financing work?

4.  Does owning the land free and clear bring enough "skin in the game" or will we need substantial equity in the construction loan?  That is, will the construction lender limit the loan to XX% of total build costs?

5.  The land is NOT flat.  The topology is steep in spots, but not very steep in the preferred building site.  How much can that complicate things?

6.  How much will the topology add to building costs?

7.  We are not "gold plated faucet" kind of people.   That said, I'd like to include some things that would be considered "custom" in SoCal. 

8.  Is there a way to build out a portion of the home, like the garage, and move in to allow us save money?

9.  While I know there are a nearly infinite number of variables, is there a range of per square foot costs to build? (again, we're not stamped metal ceilings, gold faucet, built in fridge kind of people.  Glacier Bay/Price Pfister fixtures and GE appliances are more than OK with us.)  We want a solid structure with a comfortable interior.   

10.  What have I NOT asked that I should have asked? 

I'd be very grateful if SoCal builders would weigh in on this. 

@Karen Margrave and any others who I may not have yet encountered in the forums.

Thanks to all in advance for your time and effort.

Bill

[Karen Margrave]

I'm not familiar with  your area, however; I'll try to answer the best I can. The makeup of the soil has a lot to do with what can or cannot be done; and what would be required in order to build on a steep lot. Building on property that isn't level is challenging and can be a lot more expensive, depending on the grade. I'd suggest the first thing you do is talk to a civil or soils engineer and try to get some idea as to the challenges in regard to your specific property. Price to develop depends on what you have to do to get to the point of being able to build. If the land has a large enough flat, buildable area for a home, it might be doable. If on the other hand you have to retain a lot of soil, or use caissons, it could be spendy. Below is a photo showing a lot in San Clemente that we bought. It took approximately 200k to do the dirt work, and that was with my husband and son doing all the work. Then there's photo of the retaining wall framed up, then final house. It's a process. 

Whatever you decide, you want to design your house to work with your lot, it may be that you need a split level, etc. Find someone that has designed houses nearby etc. As for having the lot free and clear, that's a tremendous help, depending on the value. Your best bet would be to find an experienced builder in the area that is familiar with the process of building in the area and talk to them about what it would take to design and build a home there. Good luck! Message me if I can be of any further help. I hope I haven't scared you.