Cost to build in Wellesley? (hardwood floors, landscaping, cabinets)

[johngolf]

Personally, I would only add on in the right situation. So often additions just come out awful because they don't feel at all like they were originally a part of the house. I can't tell you how many times I've walked through a house and the ceiling suddenly goes from 7.5' to 9+ ft. It looks so stupid. It also looks weird when all the rooms in the old house are small and suddenly you walk into the addition and the rooms are huge.

I know someone who did this in Marlboro and it was a rather "eclectic" looking place. As it was on a hill lot they also expanded out one end of the original ranch, including the foundation/basement and added a built under garage. It had a lovely in-law suite but it was only accessible from the kitchen. It looked fine and in place from the outside, but inside it was one strange layout. Also the entire project was so argumentative that it set them on the road to divorce.

[Brave Stranger]

Additions can be tricky. I did one on a typical 50s ranch. I added on an all-season room off the back bedroom & opened it up with a cathedral ceiling. From the outside it looks like the house was built with the extra room & it was always there. From inside I made sure I left the old bedroom wall wide-open so it looks like a 2 room suite. Not perfect, but good enough considering there's not much land to build on in greater Boston. Some people have no choice but to do an addition. It's simple doing a one room addition to a ranch like I did. When you start adding second floors or multiple rooms that start to overtake the original footprint of the house the esthetics of the property can suffer.

[sr03]

Hi All,

Does anyone know the per sqft rate to build a house in Wellesley or surrounding areas. I'm hearing $200/Sqft.

We are looking to build a 3000-3500 sqft house(4 bed/3.5 bath) which will have medium level finishes. What would be a good price.

Thanks.

[sparklingforest]

Originally Posted by sr03

Hi All,

Does anyone know the per sqft rate to build a house in Wellesley or surrounding areas. I'm hearing $200/Sqft.

We are looking to build a 3000-3500 sqft house(4 bed/3.5 bath) which will have medium level finishes. What would be a good price.

Thanks.

sounds low. I was told $250 - 300 last year in Manchester.

[MikePRU]

Originally Posted by sr03

Hi All,

Does anyone know the per sqft rate to build a house in Wellesley or surrounding areas. I'm hearing $200/Sqft.

We are looking to build a 3000-3500 sqft house(4 bed/3.5 bath) which will have medium level finishes. What would be a good price.

Thanks.

For a new build (not including the lot), $200/sf seems to be a number I hear a lot around here. Some people are a little more and some a little less. Level of finish is important and I'm not sure what you mean by medium level finishes. That could mean different things to different people.

Originally Posted by sparklingforest

sounds low. I was told $250 - 300 last year in Manchester.

It's really hard to compare cost per square foot across different projects in different areas. It's probablybest used to compare quotes from multiple contractors bidding on the same job.

[Parsec]

Originally Posted by sparklingforest

sounds low. I was told $250 - 300 last year in Manchester.

That sounds high for a new build. $300/sf for a 4000 sf house plus the 2 acre lot will put you in the $2 million range. That's high for Manchester unless you're right on the water. $250-300/sf is about right if you are remodeling certain rooms like the bathrooms and kitchens, but it's high once you start including bedrooms and hallways. Like Mike said earlier, it all depends on fit/finish as well as the types of rooms you are adding.

[gf2020]

You can build a very nice house in the Greater Boston area for $150 per square foot.

If you're paying $200 and up per square foot for new construction then either A) the general contractor is just making a ton of money (which is very possible) or B) you are putting in extremely high end systems, finishes and appliances.

For example, this new construction home in West Newbury, which recently went under agreement. It appears to have very nice, but not over the top, finishes.

http://www.realtor.com/realestateand...5_M48122-03809

Let's assume a sales price of $730,000, so after a 5% real estate commission, the builder has a gross of $693,500. He purchased the lot in 2014 for $192,500, so his net is $501,000. $501,000 divided by 3200 square feet = $156 per square foot. His actual cost to build the house was probably around $115 or $120 per square foot, because most good general contractors are looking for a 30% margin.

When I was building houses in Haverhill, Georgetown and Salisbury in the 2000 - 2004 time frame, we would build them for around $95 per square foot and sell them for $130 per square foot plus the cost of the land.

[robr2]

"Retail" selling price on new construction (not including land) of $150 per square foot gets you fairly basic finishes: moulded solid or even hollow core doors, Home Depot grade Schlage/Kwikset locks, Home Depot grade Delta/Moen faucets, basic tile, generic granite, et al. At $200 a square foot, you are getting much better finishes and fixtures.

[sparklingforest]

Originally Posted by Parsec

That sounds high for a new build. $300/sf for a 4000 sf house plus the 2 acre lot will put you in the $2 million range. That's high for Manchester unless you're right on the water. $250-300/sf is about right if you are remodeling certain rooms like the bathrooms and kitchens, but it's high once you start including bedrooms and hallways. Like Mike said earlier, it all depends on fit/finish as well as the types of rooms you are adding.

$300 is on the high end but I think $200 is unlikely. Build 3000sq ft custom house for $600,000? Possible, I guess, if you need little site work and your design is simple. I think $250 is more realistic and don't be surprised if you hit $300. Of course price per sqft goes down with size. But are there even buildable lots in Wellesley?

I don't mean to divert the topic to Manchester prices but I don't believe you can buy a beach front property for 2 million. Sure you can get an ocean view at that price but I think beach fronts are 4 mil. You can get a new 5000 to 6000 sqft house on 1 or 2 acres non beach front / no ocean view for 2 million or a used mini-estate (5-7000 sqft 5-7 acres) for about the same.

[sparklingforest]

wait are you talking buying a spec house or building on your own? I think buying the lot and using your own architect and GC is almost always more expensive than a spec (unless it's very high end)

I'm looking at this from a retail perspective and what I have found is possible. I have no idea what a builders costs are.