New Construction Cost in Seattle

[Yinan Q.]

When I analyze fix&flip deals that require extensive rehab, I always wonder if it makes more sense to tear the house down and built a new one. I have a pretty good idea of estimating cost for flips but not so much about new construction cost. 

Can anyone share numbers for new construction cost in Seattle and surrounding area? I know it depends but let's assume it's a tear down and rebuilt, all utilities are ready.

I've heard $150 to $200/sf depending on the size and level of finishes. This includes all construction cost from pouring foundation to installing door knobs, but does not include permitting. Does this sound right?

[Tatiana Gershanovich]

It still depends :) We usually project $160-170 per sq ft, but it can go much higher depending on the lot elevation and other things related to the land. If we can use a tract builder the price goes way down. It's much easier to estimate if you can provide an address for the lot you want to build on.

Feel free to reach out to me and I will help you to analyze it. 

Our RE Investment and Development company builds quite a bit of SFR, townhouses and rowhouses in Seattle and surrounding areas.