Comments on: I have the land and around $120,000 budget? http://www.storagecabinetinc.com/kitchen-storage-cabinet/i-have-the-land-and-around-120000-budget Get The Best Storage Cabinets Tue, 20 Apr 2010 19:35:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: yourmtgbanker http://www.storagecabinetinc.com/kitchen-storage-cabinet/i-have-the-land-and-around-120000-budget/comment-page-1#comment-476 yourmtgbanker Fri, 03 Jul 2009 00:35:59 +0000 http://www.storagecabinetinc.com/kitchen-storage-cabinet/i-have-the-land-and-around-120000-budget#comment-476 First of all you do need to meet with a builder and give them this list of items that you want. They generally can run you a cost estimate for the pricing in your area. Construction loans to build normally finance 85% of your projected appraised value. Once you pick the design the builder will need to give you blue prints/specs that an appraiser will use to get a subject to completion value. If you already own the land most lenders will let that stand for your 15% down. Good luck.<br><b>References : </b><br> First of all you do need to meet with a builder and give them this list of items that you want. They generally can run you a cost estimate for the pricing in your area. Construction loans to build normally finance 85% of your projected appraised value. Once you pick the design the builder will need to give you blue prints/specs that an appraiser will use to get a subject to completion value. If you already own the land most lenders will let that stand for your 15% down. Good luck.
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]]> By: Dr. Deth http://www.storagecabinetinc.com/kitchen-storage-cabinet/i-have-the-land-and-around-120000-budget/comment-page-1#comment-475 Dr. Deth Fri, 03 Jul 2009 00:08:59 +0000 http://www.storagecabinetinc.com/kitchen-storage-cabinet/i-have-the-land-and-around-120000-budget#comment-475 it would help if we knew what state/city you're near - mid to high quality-you could spend 50-70,000 just on the baths and kitchen. I just started calling around for pricing for same situation for myself in NE Pa. - if you need a septic system - that could run you $8000 or more. a 4' crawlspace foundation may be around 8000, a full basement could be $12-15,000<br><b>References : </b><br> it would help if we knew what state/city you’re near – mid to high quality-you could spend 50-70,000 just on the baths and kitchen. I just started calling around for pricing for same situation for myself in NE Pa. – if you need a septic system – that could run you $8000 or more. a 4′ crawlspace foundation may be around 8000, a full basement could be $12-15,000
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]]> By: Greg S http://www.storagecabinetinc.com/kitchen-storage-cabinet/i-have-the-land-and-around-120000-budget/comment-page-1#comment-474 Greg S Fri, 03 Jul 2009 00:01:59 +0000 http://www.storagecabinetinc.com/kitchen-storage-cabinet/i-have-the-land-and-around-120000-budget#comment-474 I work for one of the largest banks in the country. We are one of the top construction lenders in the country as well. I finance properties all over the place. You should contact a local home builder / contractor in your area. Prices can vary depending on location and availability of materials. Contact an architect to sketch your dream home. I live in CA and the cost to build a custom home is around $300/sq foot for luxury, and maybe $150-200 for average quality. With your math (120K and 1300sq feet) you are talking less than $100 a sq foot. Run from any builder who promises he can built it for that much. Even modular/kit homes cost more on average. That is also another choice if you have less money to spend. The "pre fab" homes are assembled on site. Saves money over stick built. Since you own the land you can take out a construction loan. The loan will make "payments" while the house in under construction so you can live in your other residence until it's time to move in (without making two payments). You need credit and sounds like you have equity already. If you already have utilities that is very good. Running utilities to your land can cost a few grand if your neighbor has them otherwise hundreds of thousands of dollars to dig trenches! .<br><b>References : </b><br> I work for one of the largest banks in the country. We are one of the top construction lenders in the country as well. I finance properties all over the place. You should contact a local home builder / contractor in your area. Prices can vary depending on location and availability of materials. Contact an architect to sketch your dream home.

I live in CA and the cost to build a custom home is around $300/sq foot for luxury, and maybe $150-200 for average quality. With your math (120K and 1300sq feet) you are talking less than $100 a sq foot. Run from any builder who promises he can built it for that much. Even modular/kit homes cost more on average. That is also another choice if you have less money to spend. The "pre fab" homes are assembled on site. Saves money over stick built.

Since you own the land you can take out a construction loan. The loan will make "payments" while the house in under construction so you can live in your other residence until it’s time to move in (without making two payments). You need credit and sounds like you have equity already.

If you already have utilities that is very good. Running utilities to your land can cost a few grand if your neighbor has them otherwise hundreds of thousands of dollars to dig trenches!
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