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Old 06-02-2012, 01:51 PM
 
21 posts, read 64,970 times
Reputation: 16

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Yes, i agree that at the end of the day, the custom home price is not going to be cheaper than builder's home. however, i think that the land outside the custom house will be much bigger than builder's. today i met with a custom home builder and their estimate is $150/sgft, which includes land cleanup, permits, sewage and water. this particular area doesn't hookup with public water so only option is drill a well. so for a approx. 4000/sqft home, total cost would come around 800k. now with this price range, you CAN'T purchase a builder's home with 1 acre in 20147. can you ?
are there any pros and cons using well water vs. loudoun county water ?
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Old 06-02-2012, 03:28 PM
 
429 posts, read 1,159,983 times
Reputation: 513
Quote:
Originally Posted by mysfh View Post
Yes, i agree that at the end of the day, the custom home price is not going to be cheaper than builder's home. however, i think that the land outside the custom house will be much bigger than builder's. today i met with a custom home builder and their estimate is $150/sgft, which includes land cleanup, permits, sewage and water. this particular area doesn't hookup with public water so only option is drill a well. so for a approx. 4000/sqft home, total cost would come around 800k. now with this price range, you CAN'T purchase a builder's home with 1 acre in 20147. can you ?
are there any pros and cons using well water vs. loudoun county water ?
No, I don't think you can purchase a 4,000 sf builder's home with 1 acre in 20147 for $800K, but I don't think you can custom build one for that price, either. 150 per square foot is more realistic than $117 per square foot, but now it appears you're assuming you'll find a one-acre lot for only $200,000.

If having a larger lot than is normally available is important to you, that's a good reason to build on your own lot. Keep in mind that getting land and construction loans will be a lot more complicated than getting a regular mortgage loan. Also, be ready for cost overruns. In just the space of this conversation, your house has grown from 3k to 4k sf and from $117 to $150 per square foot.
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Old 06-03-2012, 05:40 AM
 
Location: Ashburn, VA
989 posts, read 2,847,622 times
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Are you limiting yourself to new construction only? We just ad a house on my street on .46 acres go under contract at $510,000. My house is on .69 acres. There are larger lots to be had in Ashburn just not many new construction...
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Old 06-03-2012, 07:28 AM
 
9,865 posts, read 14,036,104 times
Reputation: 21673
Quote:
Originally Posted by mysfh View Post
today i met with a custom home builder and their estimate is $150/sgft, which includes land cleanup, permits, sewage and water.
Yes, but does that include granite, hardwoods, recessed lighting, ceiling fans, etc, etc? While you may not want all of these, my guess is that you will want some of these tradititional "upgrades" which, you will find, will quickly raise your cost per square foot. This is also true of buying from a developer, which is why, if you see "From the Low 400s", you should never expect to pay in the low 400s.

It is clear you want to go the custom home route, and I wish you the best of luck. But your original post was asking if you could get more for your buck by going custom. I (and the other responders) do not think that will be the case for the reasons stated. That being said, I do wish you prove us wrong, and are able to get your 4K SF home on an acre in Ashburn for 800K. I, for one, wish you would keep this board updated on your progress.
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Old 06-03-2012, 07:35 AM
 
Location: Aldie, VA
199 posts, read 671,039 times
Reputation: 92
There is one 1 acre lot for sale in that Zipcode, listed at $330k:
http://franklymls.com/default.aspx?m=R&l=0&h=ALL&s=[Lot.5-5]+LAND+%2820147%29

Although, not sure if most land lots go into MLS.

If you look at existing homes there is only one home for sale in that Zipcode, with over 1 acre, but it's under contract, and was listed at $864,850.
http://franklymls.com/default.aspx?m=R&l=0&h=ALL&s=[Lot1-5]+detached+%2820147%29

Since 2009, only two houses have been sold with that criteria (you may have to create an account to see these results):
FranklyMLS.com Virginia & MD, DC MLS via Keyword Search & Wiki. Homes for Sale[Lot1-5]+Detached+%2820147%29+solds&x=sold

If you drop to include .5 acres, looks like there are 7 homes available, ranging from $750k - 1.6M.
http://franklymls.com/default.aspx?m=R&l=0&h=ALL&s=[Lot.5-5]+detached+%2820147%29

so of the links don't seem to be working, so you may have to enter the search terms on the site yourself.

Last edited by gammann; 06-03-2012 at 07:42 AM.. Reason: fixed links
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Old 06-03-2012, 10:16 AM
 
21 posts, read 64,970 times
Reputation: 16
spencgr,
thank you and others for your wishes !!. though I started with ideas saving money and getting what I wanted by building custom home, it appears, I may not save much money. but still think that for $800k, will get inside & outside the way my family likes. Yes, as you all pointed out, this is not easy task and already realized a lot of obstacles but will try my best to see what happens. I will keep you all posted as progress.
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