What Size House Can We Build For $100k?
Hello,
My husband & I are purchasing some land in Wisconsin next year & we want to build a house big enough for our 6 person family.
I am getting design software tonight, but was curious as to what size of house, sq footage, we would be able to build with about a $100K construction loan? This would have to include the septic, electric & slab (no basement.) I’m thinking we want 2 story, 5 bdrm, 3 full bath, 1 half bath, living room, dining room, no den or extra rooms.
My husband & his family will be doing all the labor themselves.
I just want to see if it’s even feasible to build a 2500-3000 sq foot house, or if we’ll have to discuss a bigger loan.
I know the price will vary greatly depending on the design, but we are looking for something open & nothing super fancy.
I know Menard’s has building plans/prices, but they don’t list them online, nor could I find any other design websites that list a estimated price.
Let me know your thoughts! Or give me some websites that list building packages AND prices haha.
Thanks!
Tags: $100k, Amp, Big 6, Build, Build A House, Build House, Construction Loan, Design Software, Design Websites, Dining Room, Hello, House, House Build, Living Room, Menard, Person Family, Size, Slab, Sq Footage, What
January 31st, 2010 at 9:36 am
For materials only for a house that size, you will be looking at a minimum of about $150,000. This is assuming that your husband and his family can do ALL of the work. You will need a licensed electrician, plumber, and HVAC contractor to act as consultants on the job in order to pull a building permit. They don’t actually have to do the work, but they will ensure that it’s done to code before your inspection. The elimination of the basement should offset the cost of the well and septic. Good luck, and welcome to the Badger state.
BTW, even if you get the plan from Menard’s, don’t get your lumber there. It’s not much cheaper than a full service lumber yard, and the lumber is crap. Hope this helps.
January 31st, 2010 at 11:35 am
it will depend on what kind of materials you will be using, but for sure you wont build a house that size with that kind of money.
1 is if you have to build a concrete basement, that will be more then 25k,and you will always have to put 10% for estras, plus if you save on building materials, on the long run you will be spending much more money on the house. i think 200k will be the average for a house that size, not going to fancy inside.
January 31st, 2010 at 12:04 pm
If the land is not included in the loan AND you truly are doing ALL the work yourselves, I do believe you could do it.
I have been able to build several 1400sf homes,lot included in the loan, for $125,000. Doing all work except plumbing,elec,HVAC and full basements(8′ foundation walls and some short walls) and flatwork.
In my area, (MO.), a person is allowed to do all trade work as long as they are building the home for theirselves and not to sell.
January 31st, 2010 at 1:01 pm
You couldn’t even by the lot, here in So Cal, for that!
Have you considered getting a prefab modular? They make it in a factory, so costs are much lower… and there are dozens of designs to choose from. The best part… after the foundation is put in place, it only takes a couple days to have a finished home!!
Google “Prefab Modular Wisconsin” or try this search engine: http://www.findprefab.com/find-prefab-ho…
January 31st, 2010 at 5:46 pm
woah u may need alot more cash with a family of 6
100k here would get me a 2 maybe 3 bdrm..
goodluck though must be exciting!!
January 31st, 2010 at 9:22 pm
For a basic (plain) house, about $80.00 per sq. ft.
February 1st, 2010 at 3:04 am
First don’t limit yourself to a square house if you’re in the planning stage.
But, if you are set on a square house, find out how much per square foot housing costs in the area you are building it in. i.e say (and this is just a number), $100 per square foot. Knowing that and with all the help you have you will be able to knock between 10 to 20 percent off the squarefoot price.
If you are open to energy efficiency and the like in your new house there are two ways to go. One is SIPs (Structurally Insulated Panels, which when put together will act as a monolithic shelter and is one of the most energy efficient type of houses on the market. the other most energy efficent house are geodesic domes, in fact you have a couple of dome builders in your neck of the woods (okay within a couple of states) one is Natural Spaces Domeshttp://www.naturalspacesdomes.com/
while the other is Dome Inc http://www.domeincorporated.com/index.ht…
I think there are a couple more but these are the two that come to mind as they are the ones I have the most contact with.
Oh and as a word of warning, take those Energy Star home advertisers with a grain of salt as covered by the San Fran Chonicle:
Green buildings standard seen as flawedhttp://sfgate.com/cgi-bin/article.cgi?f=…
DK
February 1st, 2010 at 6:15 am
Im building a house right know and we have just finished framing and we are at 90,000 but that’s every thing so far the studs the roof, floor doors (outside) and some windows ply wood. still needs carpet piping electricity dry wall. paint finish carpentry work and than last but not least it needs to be inspected. it will be 140,000 before we are done. its close to 2,400 Sq feet