Cost of building home on own land? (Dallas, Highlands: foreclosures, credit)

[Cali Fragilistic]

We're planning to move to DFW later this year and we're weighing the pros and cons of buying a "normal" house/lot vs buying one of those older and smaller homes on a large lot and rebuilding at a later time (i.e. rebuild, not remodel).

We would really like the benefits of a large lot (will probably hate the upkeep after a while) but we'd not sure if the cost of building a new home is reasonable enough to justify the hassle of living in a crummy house until we save enough to tear it down and build a new one (my guess is that would be 2-3 years).

Do any of the tract home builders build one-offs on the owner's land (standard model or mildly customized) or would we have to find a custom home builder? What would the price per sq-ft be in either of these scenarios (assuming a pretty-much-normal home, nothing too flashy)?

TIA!

[ETex2]

Most tract home and larger home builders do NOT build "on your lot", simply because it's not economical for them. When they go into a neighborhood they benefit by having crews in one location, and are able to use leftover materials on other homes, etc.. There are a couple that may still do it. United Built Homes is one of the larger builders doing on your lot construction, but their quality is kinda iffy IMHO. Overall, you can expect to pay more for a home built on your own lot; typically between $65.00 and $100.00 per SF depending on size, quality, etc.. It's a lot more economical these days to find a previously owned home and since there are still quite a few foreclosures around, you can still find some bargains.

[TurtleCreek80]

You'll need a custom builder. $80-120/ft is typical "standard suburb" home. $150-250/ft is the range for a nice custom home....for example if you built in North Dallas/ Preston Hollow, Lakewood, Lake Highlands, Park Cities, etc it would cost around $500-700k to build a 3,500sf home that is comparable quality to other new builds in the neighborhood. This is key- always make sure you are building something that is mid-range for your neighborhood so you can have maximum chance to sell quickly/easily. Don't do linelolium kitchen floors if the neighborhood has tile or wood, don't build a 4 br if the rest of the neighborhood is 5-6br, build an attached rear garage if that's what the neighborhood does, etc. You don't want to be the "odd duck".

[Cali Fragilistic]

Yes, when you're in Rome ...

I haven't yet fully lost that California bubble mentality of "you're buying the land, they don't make any more of that. you can always upgrade or rebuild the house later".
I guess it will have to be a normal home for us for now.

What tract home builders should we absolutely avoid and which ones are have a better reputation around DFW? Does smaller builder generally mean better service and product (albeit likely at higher cost) or are they just as good/bad as the big ones?

[loves2read]

Drees will contract to build a home for you--depending on where you lot is--
and a local builder in DFW/Tarrant area is Sandlin homes and they will also do that
both of them have decent reputations (depending on whom you talk to and the subdivision you check)
there are too many other local builders to start a list of +/- who have managed to stay in business--depending on their price point--
some of them needless to say are better than others
some of them might not work in your area
there is no point in hiring a builder who lives 30 mi away to build you a house -- they would charge you extra for their gas/drive time and it would not be a good price...


the Tarrant county builders assoc is network for local builders who have web site--Dallas probably has something similar--
in Tarrant I think they subscribe to professional accreditation for something called Master Builder--supposed to be skills and other qualities that are quality
you can get list of them from it and check their individual web sites--some of them are expensive and probably would not want to build an individual house away from their developments--expecially if you are trying to get the best price per sq ft

lot of it depends on where you want to build and what your price point is
land is not cheap here--especially land that has good topography, water source, and is not too far from city amenities

[Lakewooder]

David Weekley did a few homes scattered around East Dallas and Lakewood, not sure if they are still doing that..

[Issayas]

Hello,

I just stumbled across your original question, and seeing that you posed it a couple of years ago, wanted to see how your research went and whether you got to work with a builder that you'd recommend (and the cost per sqft)...

My fiancée and i are contemplating purchasing an empty lot in Dallas to build a home on it in the next 2-3 years when we're ready to upgrade from our current house...

Any feedback would be appreciated.

Thanks!

Originally Posted by Cali Fragilistic

Yes, when you're in Rome ...

I haven't yet fully lost that California bubble mentality of "you're buying the land, they don't make any more of that. you can always upgrade or rebuild the house later".
I guess it will have to be a normal home for us for now.

What tract home builders should we absolutely avoid and which ones are have a better reputation around DFW? Does smaller builder generally mean better service and product (albeit likely at higher cost) or are they just as good/bad as the big ones?

[radpharm]

Originally Posted by ETex2

Most tract home and larger home builders do NOT build "on your lot", simply because it's not economical for them. When they go into a neighborhood they benefit by having crews in one location, and are able to use leftover materials on other homes, etc.. There are a couple that may still do it. United Built Homes is one of the larger builders doing on your lot construction, but their quality is kinda iffy IMHO. Overall, you can expect to pay more for a home built on your own lot; typically between $65.00 and $100.00 per SF depending on size, quality, etc.. It's a lot more economical these days to find a previously owned home and since there are still quite a few foreclosures around, you can still find some bargains.

Hello:
Do you have a list of contractors in the Dallas area who build a home for a 65.00 to 85.00 square foot?

[SouthernBelleInUtah]

That post was 5 yrs ago and prices are far higher.

[fearthegoat]

In this economy you won't find $65-$85. Good luck with that!