Building a house in LA (Compton, Gardena: construction loan, how much, houses)

[Chinghis]

Hi, folks. Anyone here know anything about house building in LA? My wife and I are looking to buy a piece of land and put up a modest house, probably 3 BR/2BA, something like that. What's a good estimate of cost per square foot? I know it makes a difference in terms of flat parcels vs. sloping lots, that sort of thing, and we're probably looking at a sloping lot. We should be able to buy the land outright, and I know we can do something in terms of a construction loan that we can turn into a regular mortgage, so financing isn't too big of an issue. But I'm wondering what size that loan might have to be. Thanks in advance.

[mar99]

My husband an I looked into this a while back, but ultimately decided it was not a good idea. First of all, land in LA is disgustingly expensive. There are very few parcels of buildable land in areas that are already developed, so you'll most likely have to look for something on the outskirts of the city -- which can be quite far from anything you actually want to live near. We personally considered a particular piece of land on the outskirts of Chatsworth that seemed reasonably priced, but when we started doing the research about how much it would cost to build on a slope vs. on flat space, the sloped land turned out to be no more of a bargain than any of the other overpriced parcels.

[ferretkona]

Permits are harder to get right now. Cheaper to buy land with a home on it and remodel.

[Chinghis]

Thanks for the comments, folks.

mar99: Oh, I'm finding out about land prices. Not fun. But my fantasy is that we might be able to get away with $500K for both land and house, and that's kind of the number that I'm looking to either confirm, or get blown out of the water.

ferretkona: How do you mean? Harder to get, as in the city isn't giving out permits for new construction? Or harder to get as in they're expensive and take a long time? Our original intent was to buy a 2BR house and remodel by adding a 3rd BR and maybe a bath, but finding a house that isn't stupidly overpriced to begin with has been the hard part. Sure, lots of houses for $700K in neighborhoods we like, but that taps us out, leaving us with nothing for remodeling (much less emergency funds, etc.).

[Chinghis]

Just bumping my own post.... OK, so not many people here have much personal experience with it: Anyone know of any good websites or forums where I might continue my research?

That being said, we haven't been able to find much that doesn't seem like it's going to cost us an arm and a leg to build on in the areas we like. Kind of a shame. So much for the homesteading ideal, hey?!

[fretchieboy]

I'm planning on selling my flat vacant lot within a residential neighborhood in the City of Gardena. The parcel is approximately 4,300 square feet and about 15 miles from Downtown L.A. Let me know if you're interested.

Originally Posted by Chinghis

Hi, folks. Anyone here know anything about house building in LA? My wife and I are looking to buy a piece of land and put up a modest house, probably 3 BR/2BA, something like that. What's a good estimate of cost per square foot? I know it makes a difference in terms of flat parcels vs. sloping lots, that sort of thing, and we're probably looking at a sloping lot. We should be able to buy the land outright, and I know we can do something in terms of a construction loan that we can turn into a regular mortgage, so financing isn't too big of an issue. But I'm wondering what size that loan might have to be. Thanks in advance.

[chingis_khan]

That sounds interesting, what other city is next to gardena? let me know if it is still available, price, n info like that..... you can e-mail me at chingis_ak@yahoo.com.au thanks

Now regarding building a house: anybody knows, does it really worth building a house yourself? or better hire a const. co.?

Originally Posted by fretchieboy

I'm planning on selling my flat vacant lot within a residential neighborhood in the City of Gardena. The parcel is approximately 4,300 square feet and about 15 miles from Downtown L.A. Let me know if you're interested.

[BRinSM]

Gardena is next to Compton if that matters at all to you.

[greggd]

The profit/savings is generally in the cost of land. What areas are you looking at? Some areas of california have very heavy inventory right now at discounts. These areas will also have cheap land as well. May be a good opportunity for you to buy cheap. How far from sewer hookup, utilities, any restrictions, zoning, access, easments etc.

Two ways to approach: buy older homes that have not been remodeled, tear them down except for one key bearing wall and rebuild. Or, tear it down completely and re-build.

If you are looking inland, 5 miles or more from the coast, you can obtain permitting fairly easily and avoid the coastal commissions involvement. Slopes are more difficult as you need to factor costs for grading and foundation work, generally to tap the bedrock below. will need an experienced contractor, more steel involved here. drainage, sewer etc to consider.

cost per sq ft can be in the 100s, $150. per sq ft and up to $500+ per sq ft.
Since you are looking at 700k, I would imagine you want a basic home.

Finding a contractor is a another subject, need someone reasonable, responsible, knowledgeble, quality work, and a personality you can get along with. This is going to be a 12+ month marriage which you are paying for.
You may want to find your builder and architect first, then move forward.
Also, consider a consultant for land planning, surveying, due diligence to help you analyze potential parcels and navigate permiting. Not expensive, but will save you alot of time and possible frustration.

If you plan to build your own and subcontract each phase, you should have construction experience as you will manage, make desicions, check work, quality control etc. Re-constructing and fixing mistakes is what drives the cost up.

[CESpeed]

Originally Posted by BRinSM

Gardena is next to Compton if that matters at all to you.

I know most areas of Compton are rough but the area near the 91 fwy and Gardena are actually nice. Did you see the homes that plane crashed into? That wasn't the gheto.