Cost Considerations

[GoBux2823]

I've read through a lot of posts on this board and I am curious.  I own 3 acres of land in Southern Ohio, and am recently divorced.  Instead of renting or buying a house thats more than what I need for now, I think I want to undergo a home project.  The first question I have is cost.  What can I expect to pay for a 800 - 900 sq ft home (like the ones shown here on this site) including materials, plumbing, wiring.  I know this is relative, but I want the 1 1/2 story plan, but just about 200 sq ft larger.  The 2 story looks good too, but 800-900 sq feet is about what I would like in terms of livable space.  Can I get that built for 40,000 or less?  Secondly, the materials.  I would like the floor joists to be 2x10's, a small porch on the front and a medium deck off the back.  A wood burner or gas log fire place could probably heat the whole house, so I would like that option too.  I'm just trying to get an idea on what it will cost me if I do 75-80% of the work by myself, and have some help along the way.  Sorry if this is to vauge of a question, but I would like to be able to do this and it be decently low priced.  I appreciate your feedback....thanks.

--Dave
(PS - changed topic title - jraabe)

[Jens]

framing and finish materials, $10k.  Electrical, plumbing, heating done by somebody else, $20k.  Post and pier foundation, $2k, roofing, and siding, $5k.  Windows, $2k.  Cabinets, countertops, $1500.  That covers the basics (all New England estimates BTW, OH may vary.  Wow, that brings in at $41,500, didn't plan that.  You would definately save by doing the plumbing and electrical yourself, which isn't too involved for a house like this.  Add site work, septic, well, and permits, and around here you'd be looking at another $15k or so.  Look for materials on craigslist.org, or freecycle.org, and the price goes down.  Stop and talk to every contractor you see, and you might be able to use salvaged, or left over/waste materials, and get them for next to nothing.  Sometimes though, it just isn't worth it to use scrap IMO.  I know it would be possible if you did all of the work, to build the house for <$40k, but the subs can get expensive.  It depends too, on if you are getting bank loan for the house.  Sometimes they require you to sub out stuff you'd do yourself, i.e. electrical, plumbing, site work (rent a tractor, neighbor), etc.  Sometimes the town/state won't let you do some of that either.  Materials have a lot to do with it too, i.e. OSB or plywood, wood or MDF, things like that.  Savings in some spots, may leave room for luxuries elsewhere, like hardwood floors, tile, or better cabinets.  In short, it all depends on how much you do, what level of finish, quality of materials, and even the design of the house to use materials most efficiently.  Like PEG says, something about an octogenarian's skivvies...depends!

[glenn kangiser]

That pretty well covers the estimate, Jens.  Good Job.  

That fits about what I expect to see from what others have done with savings possible from that if you try I think.

I think the $40k is doable.

Welcome to the forum, Dave..

[Jens]

I guess my math needed some work.  That was 40,500, not 41.  

[deertracks]

Might as well round it up.....
You know there's always that unexpected cost on something!!!!

We are 1,000 sf and will sub out very little and we hope to
keep our project under $40,000.
Banks are not very eager to loan to owner-builders.
They make you finance the labor in, just in case you are unable to finish it.
They you will be qualified for a buffer that will pay the labor.
Still a cheap way to get into a house.
Some frills can always be added later.
When figuring your budget, always plan for a buffer.... most things will end up
costing more than you plan.
Lumber is supposedly cheaper than it's been for years... pray for no "natural disasters"