New Construction - Park Cities (Dallas, Colleyville: sales, new home, buy)

[TurtleCreek80]

Originally Posted by UnfairPark

This is an example of how much its costing to build in our middle class suburb.

https://www.realtor.com/realestatean...ily-home/sby-2

A neighborhood where homes are $1-2.5M is NOT "middle class."

[tonie972]

Originally Posted by TurtleCreek80

We are talking about the PARK CITIES. Custom builders don't build under 4500-5000SF IN THE PARK CITIES. They just don't. The land costs a fortune to buy. The expected finish out is pricey. The profit is in the extra bedrooms and spacious public rooms. There is exactly 1 home built since 2015 on the market that is under 4500sf and it's barely under. The average new build is 5500-6500sf for a reason.

I'm not speaking about Frisco, Coppell, DeSoto, Keller, or wherever else. I'm talking about the Park Cities which is what OP asked about.

You’re missing the point. You’re a fool if you think it’s hard for a builder to build a quality home at $200/sqft and a fool if you think they don’t make enough profit.

[kyam11]

Originally Posted by TurtleCreek80

We are talking about the PARK CITIES. Custom builders don't build under 4500-5000SF IN THE PARK CITIES. They just don't. The land costs a fortune to buy. The expected finish out is pricey. The profit is in the extra bedrooms and spacious public rooms. There is exactly 1 home built since 2015 on the market that is under 4500sf and it's barely under. The average new build is 5500-6500sf for a reason.

I'm not speaking about Frisco, Coppell, DeSoto, Keller, or wherever else. I'm talking about the Park Cities which is what OP asked about.

You have no clue what you are talking about. A custom builder will build whatever you want them to build. I guarantee I can find a builder that would be willing to build a 2000 sf house in the Park Cities. Does that mean every single builder will do it for you? No, but there are may builders who would absolutely be willing to build 2000, 3000, or 4000sf on a lot where someone owns the land.

Will a custom builder buy a piece of land and build a "spec home" that is 2000sf in the Park Cities? Of course not and not because they can't build profit into it, but because they can't sell it.

BTW we looked into building and I would say that we have high end tastes (walnut floors (@ $15/sq ft), marble tops, Thermador appliances, etc) and cost was around $200/sq ft if we owned the land. I have no doubt that OP could find a builder easily for $200/sq ft. If they were not looking of super high end they could probably get down to $150 per sq ft

[Rakin]

Originally Posted by TurtleCreek80

Where am I getting my info? From builder friend who build in HP/UP. The economy is great right now and there is no shortage of work so they can build what they want.

"They are their own GC"- if someone doesn't have a construction background (such as the OP), then they would be a complete fool to be their own GC. Of course your friend is saving a ****load of money being his own GC as a chunk of the cost to build is in the GC's overhead, profit, and insurance.

I don't believe you can build a true custom home for <$100/SF labor + materials. Sorry.

I have a good custom builder who even in Coppell and Southlake costs are $150-250. Throw in the land and your up to $300-400 a foot if not a whole lot more. Throw in a tear down and it can get even higher.

Anything below that and you're not building true custom but really cutting corners. I've found many people really don't understand true quality and custom. They may think they do, but they don't.

[Rakin]

Originally Posted by kyam11

You have no clue what you are talking about. A custom builder will build whatever you want them to build. I guarantee I can find a builder that would be willing to build a 2000 sf house in the Park Cities. Does that mean every single builder will do it for you? No, but there are may builders who would absolutely be willing to build 2000, 3000, or 4000sf on a lot where someone owns the land.

Will a custom builder buy a piece of land and build a "spec home" that is 2000sf in the Park Cities? Of course not and not because they can't build profit into it, but because they can't sell it.

Wonder what the Park Cities zoning and building codes would say about all of this.

[kyam11]

Originally Posted by Rakin

Wonder what the Park Cities zoning and building codes would say about all of this.

Code is code. You either build to code specs or you do not. As for zoning I can't speak to that. The point is if the city approved of it you can easily find builders in for $200 sq ft or below. I have no clue what the Park Cities allow and what they don't. I would be surprised to see if a lot that is zoned residential would not be allowed to build a residence. Any building has to be up to code though, but that literally has zero to do with size (reasonable speaking of course.)

[UnfairPark]

Originally Posted by TurtleCreek80

That's for all houses, not new construction. Average price per sq foot for new is in the $450-550/SF range.

Your estimate is fair, depending upon builder, size, quality and upgrades, it may go lower or higher.

However, if one is GC himself or can go with a cheaper builder, standard quality and builder agrees to build the smallest size neighborhood coding allows, it can lost less. House may look out of place but over the period of time, one can add upgrades or add ons? Its rhetorical as I have very limited knowledge about custom building in HP or elsewhere.

[JTC Mom]

We have done some (but not exhaustive) research on custom builds in the park cities. A 50 foot lot (7500 sq ft) on a street that is not busy will be about $900k-$1.2k for the land. (Generally less in UP and more in HP, more between Preston and Hillcrest, less close to the tollway, even less close to central). 12,000 sq ft lots are $1.3-$2M; 15,000 sq ft lots are about $3M in HP, generally less in UP.

The builders we have spoken to estimated combined construction costs and carrying costs for a nicely finished 6k foot home at $1.5 a $1.8M. They would build smaller but the cost per square foot would be higher.

For reference there are some new spec builds in UP on 7000-8000 sq ft lots listed currently or recently listed for for $2.1- $2.5M for 4700-5700 sq ft

ETA - Timeline is 12 months to build

[kyam11]

You are getting ripped off or are poor at negotiating. 300 a square foot is way overpriced

[JTC Mom]

Originally Posted by kyam11

You are getting ripped off or are poor at negotiating. 300 a square foot is way overpriced

We are not building and are not getting “ripped off” nor have we negotiated anything. As I mentioned in my post, we have simply spoken to some builders, and I am passing along information we have gathered. It may be helpful to OP, or not. Either way there is no reason for you to insult me.