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Old 07-25-2015, 05:43 AM
 
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Quote:
Originally Posted by falxori View Post
~500-550K, . so I'm trying to get a sense of what can be built for ~400K (assuming ~150 for the lot and other stuff).
A very very rough guess tells me to plan on spending anywhere from $150-175 sq/ft. Of course, it will depend on the quality of material used in the construction of the home. I would suggest looking at realtor.com and filtering it for a price range of 400k to 550k in various towns in the area to get a sense. In that price range in Munster, you can get some new construction, but it will probably not be that large of a home on the lower end of that budget compared to in other comparable towns. I would say that at 550k including the lot, you can get a 4 bed 2.5 bath home that is anywhere from 2500-3500 sq ft or so with 2-3 car garage. Again, it would depend on how well built and appointed the home is and the subdivision it is built in. Take Katona Builders for example. They build pretty nice homes. There is a particular style of home that they have been building in random open spots around town and the price differences--even given maybe some slight differences in the floor plan options--are big. There is a home being built in the older Fairmeadows subdivision (established in the 60s) in Munster along Columbia Ave (across from the hospital). It was a teardown and it is priced at $479,000. This same home is being built in Twin Creeks (established in the late 70s/early 80s) on a lot that was always vacant for $549,000. The listings have difference sq footage in them but having driven by both homes, they are literally the exact same size and I suspect that one listing is maybe including the basement or something. On a $ per sq ft basis, the home in Fairmeadows cost more (again, if the sq ft listed is accurate). But this just shows the differences. This same home in Park West, if it were allowed, would probably cost around $700,000.
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