1. The costs are more comparable through square foot pricing. a 3000sf house has been costing on average from $130-140/sf for Demo to completion. Going down in footage makes the cost per foot raise a little since you loose some of the efficiency of scale. Costs have gone up over the last few years due to material and labor increases after the recession.
2. From excavation to completion schedules for a full new build are running 6 to 7 months in my experience. Certainly can go longer as well depending on materials and labor supply and complexity of the homes. But the days of 90 to 120 day builds are gone for the time being in my experience.
3. As rental I would probably want to use sturdy materials that will be durable and require less maintenance. Quartz instead of granite, little to no carpet, things like that so your turn over costs in between tenants will hopefully be less.
4. In my opinion the best thing to do is to know what you want before you start, especially as a spec or built to rent try not to let emotions bog down decisions. I see too many spec clients who get caught up in detail decisions and they lose time and money rather than being decisive and getting to market. The more you know what you want before the hole is dug the easier the whole process will be.
Feel free to shoot me a message if you'd like to chat more.
- Jon
