$200k for a New Construction in Desirable Locale? (Decatur: how much, house)

[equinox63]

If I bought a lot in Candler Park or Grant Park for $85k, and I had $200k with which to build a house, how much house can I expect to build? Is a 2000 sf, 3 bedroom/2 bath home with office unreasonable?

[red92s]

Doubtful, unless you are also serving as the architect and contractor, and building a pretty basic floorplan with very basic finishes. Some recent listing in Candler Park look to be fetching $200-250 a square foot. To hit $200k, you'd have to be at $100/SF on a 2,000 square foot house. That seems low, and is assuming the lot is cleared, graded, and prepped before starting work. I'd imagine once blueprints, site prep, permitting, and profit margins are accounted for you would be into the $125+/sf range. Just guessing though, I've got no actual experience estimating these things.

The better question is can you buy a lot in Candler Park for $85K? The "knockdown" price in Decatur is into the $200's at this point, and I'd figure Candler Park is as high as that, if not higher.

[jsvh]

Yes, building a house for $200K is possible. But you will have to make sacrifices. There are so many factors that go into the price of building a house.

[jeoff]

If you have found a lot for 85K in Candler Park, you have done the hard (I would have thought impossible) part. $100/sft should be doable (at least I have been told that by a builder in Decatur for a 3000sft house).