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My husband and I are in the process of purchasing a lot on the SE (ocean) side of Oak Island Drive, about 0.2 miles (1 block) from a public beach access. Our hope is to build a home on the lot in the coming year in time to rent it for prime season in 2021, although we don’t imagine it to be used as a rental property long term - only in the first few years. We would like a home in the neighborhood of 2,000 square feet, two story, 4 bedrooms, with middle of the road finishings. We would love to work within a $250k budget.
What builders would you recommend we speak with and what is a reasonable range on price per square foot in the area to help us set our expectations?
Building at the coast is expensive. Houses are pilings and hurricane proof glass plus lots of extras needed for island building all bring the price up. Cost per square foot will also be based on what type of finishes you want and can vary widely. I think you will either need to up your budget or build a much smaller home. Building supplies costs have really be going up. Also, builders and sub contractors are very much in demand and building can go slowly because of that. I would not be surprised if bids for houses come in closer to $200 or more per square foot. Do you have a house plan you're interested in? Also, make sure the builder you choose is building on the island or has experience with coastal building- and don't necessarily pick the cheapest- sometimes they will end up costing you the most through shoddy work, or adding lots of extras. Make sure that allowances are enough to cover fixtures, etc. Lots of pitfalls in building so pick a reputable builder. Most of the builders I'm familiar with are high end (close to 250 to 300 square foot such as Solstice, George Crane, Barry Martin) so hopefully someone will respond with some other recommendations.
I agree your budget may be a bit light. Ken Kiser builds a lot of houses on Oak Island and has a solid reputation. Definitely worth talking to.
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