Did you build a house in Lakewood NJ recently?

amother

Coffee

Sun, Feb 03 2019, 7:58 pm

How much did the construction cost you? What quality were the finishes etc? I know it varies ALOT but I would just like an idea.

amother

Aquamarine

Tue, Feb 05 2019, 11:50 am

Yes. If you want what people call 'basic' - a chinese painted kitchen, standard quartz or granite, standard vanities and molding package, lower end of tiles, basic plumbing fixtures with only a few upgrades, siding on most of the house etc., I would calculate $100-$110.00 per square foot of the main house to start. Then add $40-$60k if you are doing a finished basement (im assuming it would include another kitchen down there) and $25-30k if you are finishing an attic. This doesn't include a contractors fee (runs from $35-45k for a house w/ attic and basement) your foundation fee (can run from 15-30k depending on what you do), any lot clearing or demo fees etc. Also, dont forget your architectural plans, anywhere from 3500 (usually not that low) to $15k.

amother

Goldenrod

Tue, Feb 05 2019, 11:57 am

Yes. It's quite large and we ended up spending about 800k. Included in the 800k is Finished basement apartment was 35k, Builders fee was 65k, architectural plans 18k

amother

Blush

Tue, Feb 05 2019, 12:06 pm

We built but not from scratch - we used the builder's plans.

3000 sq ft duplex
Incl finished basement
$620,000
Includes closets, pesach kitchen, white kitchen cabinets (they are unfortunately poor quality), porcelain kitchen tiles, carpet...

amother

Aquamarine

Tue, Feb 05 2019, 12:07 pm

Are you both including the land as well? Or was that separate? For the duplex and larger house...

amother

Blush

Tue, Feb 05 2019, 12:22 pm

amother wrote:

Are you both including the land as well? Or was that separate? For the duplex and larger house...

For the duplex the land was included.

amother

Burlywood

Tue, Feb 05 2019, 3:25 pm

amother wrote:

Yes. It's quite large and we ended up spending about 800k. Included in the 800k is Finished basement apartment was 35k, Builders fee was 65k, architectural plans 18k

how many sq ft?

boat

Tue, Feb 05 2019, 5:01 pm

amother wrote:

white kitchen cabinets (they are unfortunately poor quality), porcelain kitchen tiles, carpet...

What line of cabinets was this? And how recently did you build that it's already showing its poor quality?

amother

Blush

Tue, Feb 05 2019, 5:03 pm

boat wrote:

What line of cabinets was this? And how recently did you build that it's already showing its poor quality?

Not comfortable posting publicly. 2 years old.

amother

Coffee

Tue, Feb 05 2019, 8:13 pm

amother wrote:

Yes. It's quite large and we ended up spending about 800k. Included in the 800k is Finished basement apartment was 35k, Builders fee was 65k, architectural plans 18k

wow!!! Assuming not including the land...what was your projected budget going into the project? Did you have alot of cash to work with? Trying to figure out if it's something we should do

amother

Bronze

Tue, Feb 05 2019, 8:52 pm

I am in the same situation as you OP and did a lot of research. Here’s what I came up with:

You can build a decent size home (under 4,000 square feet) for a minimum of 450k. You would need to be very disciplined and buy very basic windows, kitchen, bathrooms etc. I would say builder’s grade. You would probably have to use stock plans or semi-custom plans. No frills- vinyl siding. Raw basement and attic.

This is in addition to a lot which starts at 375k (the lower end). Unless you already own a smaller home on a lot that you want to build on but then you would have to see how much principle you have left on your mortgage to see if it makes sense.

If you want to do a larger house or upgrade certain things it will cost you a lot more...

amother

Purple

Tue, Feb 05 2019, 9:05 pm

If you can’t afford to upgrade and buy good quality for your custom home, not worth it to go cheap. Buy an old house and do some small renovations.

amother

Bronze

Tue, Feb 05 2019, 9:19 pm

amother wrote:

If you can’t afford to upgrade and buy good quality for your custom home, not worth it to go cheap. Buy an old house and do some small renovations.

Yes but keep in mind that a small home in Lakewood isn’t necessary made with the best quality either. They don’t do things here the way they do in New York.

amother

Purple

Tue, Feb 05 2019, 9:29 pm

amother wrote:

Yes but keep in mind that a small home in Lakewood isn’t necessary made with the best quality either. They don’t do things here the way they do in New York.

True, I am from NY and the old houses there are amazing quality.
But I am designer for a high-end custom home builder and I see the difference quality makes. In the past I’ve worked with builders grade homes in Lakewood and those homes are literally junk. They look nice and beautiful when you move in, but if everything is done the cheapest way possible it is not going to last!

imalady

Tue, Feb 05 2019, 10:06 pm

realistically you are going to want to do some things above "builders grade" for practical reasons. figure $150/sf depending on the size of the home, a little less for larger homes

amother

Goldenrod

Tue, Feb 05 2019, 10:14 pm

The house is 6000 square feet (1/6th is designated for a home based business). With an unfinished attic and a finished basement apartment. We had cash for some of it and took out a Construction loan which then became the mortgage for the rest. Everything is MUCH more expensive than you think or plan. Any upgrades or anything out of the ordinary is significantly more expensive than the basic options

amother

Hotpink

Tue, Feb 05 2019, 10:15 pm

An architect just gave me a ballpark figure of $95/sqft for an addition on a slab (no basement), not basic builders grade.

amother

Stone

Fri, Nov 03 2023, 5:24 pm

Anyone have current figures? I'm trying to figure out if I should renovate my current house or sell and build something new.