Custom home in Queens NY (apartments, construction loan, home builder)

[Hwangnyc]

Hi everyone,

Recently there has been a lot of new construction in my neighborhood and I am considering rebuilding my home. Does anyone have any experiences, advice or resources they can share to help me get started with this process? A few things that would be particularly helpful are: Home builder recommendations, advice on funding, key stakeholders I'll need to hire and pitfalls to be aware of. Many thanks in advance!

[kapikap]

this is a big job, Are you rebuilding from scratch or remodel with maybe an addition?

For funding, there is a remodel/construction loan, usually for 15 years.

I have seen remodels on the lower budget, a licensed Private Contractor will deal with logistics and will tell you what permits are needed, He may have a team , and add sub contractors where needed, maybe use laborers for demolition, flooring, drywall, concrete or paver work. Items like electrical or plumbing need to be left to professionals. $40000 and up for a good remodel sounds right, should cover bathrooms, kitchens,drywall, flooring, electrical upgrades, maybe some windows. all dependent on needs.

Watch your money though, never pay a large chunk up front, people do get taken for a ride. have every thing in writing, check their license, set up a pay schedule no matter what. If you can find an established company, with an actual office, and a business history, it would be better for you.

As for building from scratch, you need to speak with current builders, and take the information down from their postings at the job site, these could be good leads to start. expect to spend $400000 and up for a 3 story brick building, with apartments, of what I have heard.

[Hwangnyc]

Thanks for the response Kap. This was very helpful. I'm looking to build from scratch, which will also include a demolition.