Is there much of a price difference buying a house versus building?

[Jumpem]

My Gramma is getting old and has been figuring out what she will do with her property when she's gone. She recently split some wooded property with a cabin and pond between my mom and my aunt. She still owns her large, but really old, house which is on five acres or so. She also owns several fields and wooded areas around her house. They total about 50 acres I'd guess.

Anyways, there is one section that has a nice hill surrounded on three sides by woods or thick hedge rows. I'm thinking about asking her for it. If one of us grand kids showed interest I'm sure she'd give it to us for free or very cheaply.

So should I plan on looking at small houses after I finish school next winter, or should I look into building a small log cabin style home on part of my Gramma's land?

I'm not sure if there would be a price difference or not on buying or building a home of the same size and style.

Thanks!

 

[ElFenix]

manufactured houses are cheap

 

Yes.
Building costs have gone up A LOT in the past year.

I have jobs where the building contract had to be rewritten halfway through due to a 25K dollar change in costs.

 

[Homerboy]

uh.... if you dont have to pay for the land, building will be MUCH cheaper (granted you build a normal house)

This is a no-brainer.

 

If you buy a prefabbed home for that land (which, admittedly, are advancing every year in terms of looks, manufacturing technology, etc.) then you could put a home on that land for VERY cheap.

I say go for it!

EDIT: These are all modular homes! :Q

 

[bunker]

Originally posted by: ElFenix
manufactured houses are cheap

Careful...manufactured homes are trailer homes, stay away, I'm hoping he meant a modular home which will look indentical to any other house and can be cheaper than having a builder come out and put one together for you.

 

[Renob]

I have jobs where the building contract had to be rewritten halfway through due to a 25K dollar change in costs.

Who ever is doing the bidding on those jobs is lame, I was a contractor for 15 years and never had to ask a cust for more money or to rewrite the condract. That being said I only lost money on one job.

BTW building your own house will take up so much of your time if thats not a problem then go for it.

 

[Jumpem]

Do you guys have any links to modular home builders?

I would like a small two story house(1200-1500sq.ft.) that I could relatively easily put an addition on in the future if kids or something require it.

 

[DougK62]

Probably building. Be careful with the suggested "built off-site" homes. Even though the quality on them is good, they are still looked down on by lenders and have poorer resale compared to "built on-site" homes.

 

Originally posted by: Jumpem
Do you guys have any links to modular home builders?

I would like a small two story house(1200-1500sq.ft.) that I could relatively easily put an addition on in the future if kids or something require it.

See the edit to my post above...I just googled "modular homes."

 

[Jumpem]

Originally posted by: Homerboy
uh.... if you dont have to pay for the land, building will be MUCH cheaper (granted you build a normal house)

This is a no-brainer.

Ths hill and wooded area I want is 10-15 acres. I'll take more if she offers though.

 

[Jumpem]

Originally posted by: DougK62
Probably building. Be careful with the suggested "built off-site" homes. Even though the quality on them is good, they are still looked down on by lenders and have poorer resale compared to "built on-site" homes.

Really, why is that? Assuming they both have the same foundation types and building codes why would the one with prefabbed components be worth less?

 

[MrBond]

You need to make sure there's access to water there first.

I've see it happen numerous times. Someone finds a beautiful location for a home and starts building. When it gets pretty well along, they dig the well, but they can't find water. So they keep digging, usually getting water but it's a tiny flow and usually sulfur water.

Hire a Dowser - it's a person who can find water for you. Both my Dad and I can do it, but we don't make a business of it. It baffles us both, because there's no scientific explaination for how it works - it just does.

I've heard of dowsers who can estimate the depth you'd have to drill, but I've never seen that done myself.

Of course, if you're building somewhere where you can get city water and don't need a well, that's a non-issue.

 

Originally posted by: Homerboy
uh.... if you dont have to pay for the land, building will be MUCH cheaper (granted you build a normal house)

This is a no-brainer.

Typically the land costs a fraction of the cost of the house. Unless you buy waterfront land in like southern california.
I'm not sure where you're getting your info from.

Who ever is doing the bidding on those jobs is lame, I was a contractor for 15 years and never had to ask a cust for more money or to rewrite the condract. That being said I only lost money on one job.

BTW building your own house will take up so much of your time if thats not a problem then go for it.

Some of these contractors were very reputable. There is no bidding, this is a customer going to a homebuilder and working out a deal for a new house.
When were you a contractor? From what I'm told by these builders they have never seen an increase in costs like they have seen for the past 2 years. I don't build, I just appraise.

quote:

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Originally posted by: ElFenix
manufactured houses are cheap
--------------------------------------------------------------------------------



Careful...manufactured homes are trailer homes, stay away, I'm hoping he meant a modular home which will look indentical to any other house and can be cheaper than having a builder come out and put one together for you.

These terms are thrown around and misused ALL the time.
Typically you had modular and mobile homes. Mobile homes were trailers and typically crappy, but cheap. Modular homes were slightly better built and allowed for more flexability in their creation.

Today, there are many options open. The typical "modular" and "manufactured" homes still exist, but they are being overtaken by "custom" homes.
Custom homes are part "modular" and part stick built. Some components such as roof trusses are built off site. Then brought onsite and added to the stick built frame.

So, there are plenty of options for manufactured homes, don't be chased away by the stigma.

 

[bunker]

Originally posted by: DougK62
Probably building. Be careful with the suggested "built off-site" homes. Even though the quality on them is good, they are still looked down on by lenders and have poorer resale compared to "built on-site" homes.

I've been doing a lot of research into modular homes the past couple weeks and this simply is not true.

 

[Jumpem]

Originally posted by: MrBond
You need to make sure there's access to water there first.

I've see it happen numerous times. Someone finds a beautiful location for a home and starts building. When it gets pretty well along, they dig the well, but they can't find water. So they keep digging, usually getting water but it's a tiny flow and usually sulfur water.

Hire a Dowser - it's a person who can find water for you. Both my Dad and I can do it, but we don't make a business of it. It baffles us both, because there's no scientific explaination for how it works - it just does.

I've heard of dowsers who can estimate the depth you'd have to drill, but I've never seen that done myself.

Of course, if you're building somewhere where you can get city water and don't need a well, that's a non-issue.

I've thought of that as well. The area is right on the edge of where city water ends. My Gramma can get city water, but my aunt at the other end of the road needs a well.

 

[richardycc]

what the point of a contract if the contractor can change the price half way into the job?? If I were the customer, I would tell the contractor to eat the increase in price and finish the damn job so I can move in!

 

[lobadobadingdong]

Originally posted by: bunker

Originally posted by: ElFenix
manufactured houses are cheap

Careful...manufactured homes are trailer homes, stay away, I'm hoping he meant a modular home which will look indentical to any other house and can be cheaper than having a builder come out and put one together for you.

love your optical illusion

 

[DougK62]

Originally posted by: bunker

Originally posted by: DougK62
Probably building. Be careful with the suggested "built off-site" homes. Even though the quality on them is good, they are still looked down on by lenders and have poorer resale compared to "built on-site" homes.

I've been doing a lot of research into modular homes the past couple weeks and this simply is not true.

This is 100% true where I live in the midwest. I've bought two homes (one just very recently) and both times I was told by my lender to avoid pre-built homes because they don't like to mess with them. It's also plain to see when I was house shopping. Pre-built homes sold for significantly less. In my price range I could've gotten a similar house that was 40 years newer if I had been willing to buy a pre-built home.

 

[Fingolfin269]

The location sounds great. I'd live there even if it cost a little more than moving into the local subdivision since they suck the life out of all that used to be good and pure in the world of neighborhoods.

ERR, okay, I just hate the fact that your average subdivision now has about 5 different house designs used amongst 200 houses. It's so lame.

 

[DougK62]

Originally posted by: Fingolfin269
The location sounds great. I'd live there even if it cost a little more than moving into the local subdivision since they suck the life out of all that used to be good and pure in the world of neighborhoods.

ERR, okay, I just hate the fact that your average subdivision now has about 5 different house designs used amongst 200 houses. It's so lame.

Exactly why I moved out into the country.

People in highly suburbanized areas even start to look alike...

 

[Homerboy]

Originally posted by: MrBond
You need to make sure there's access to water there first.

I've see it happen numerous times. Someone finds a beautiful location for a home and starts building. When it gets pretty well along, they dig the well, but they can't find water. So they keep digging, usually getting water but it's a tiny flow and usually sulfur water.

Hire a Dowser - it's a person who can find water for you. Both my Dad and I can do it, but we don't make a business of it. It baffles us both, because there's no scientific explaination for how it works - it just does.

I've heard of dowsers who can estimate the depth you'd have to drill, but I've never seen that done myself.

Of course, if you're building somewhere where you can get city water and don't need a well, that's a non-issue.

Are you serious about the Dowser?
If so I have a ghost in a jar to sell you.

 

[Twerpzilla]

Hi, if your at all handy, you can build it yourself much cheaper than buying a modular or hiring a contractor. There are some good alternative bulding techniques that you could look at too. One I like is using metal studs, metal roofing, and foam wall sheeting with brick. No insect worries, reduced fire worry>>>cheaper home insurance.

That said, modular homes can be great. There is a company where I live that builds modular homes that far excede anyones expectations. They are built indoors, so the lumber/sheeting has not been exposed to the elements. Built on jigs to insure perfect geometry. I checked these homes put last year, both display models and homes that people I know have bought from them. Very, very nice.

And financing is not a concern with a quality modular. Now if you look at some of the modulars being built by companys that also build manufactured homes, they do look crappy. I can see banks having a problem with that type of modular home.

 

[Sundog]

Originally posted by: Twerpzilla
One I like is using metal studs, metal roofing, and foam wall sheeting with brick.

Ugggg.....I hate metal studs...hate 'em. I had to deal with the almost every day when I worked in the apt building that we lived in.

 

[Jumpem]

Originally posted by: Twerpzilla
Hi, if your at all handy, you can build it yourself much cheaper than buying a modular or hiring a contractor. There are some good alternative bulding techniques that you could look at too. One I like is using metal studs, metal roofing, and foam wall sheeting with brick. No insect worries, reduced fire worry>>>cheaper home insurance.

That said, modular homes can be great. There is a company where I live that builds modular homes that far excede anyones expectations. They are built indoors, so the lumber/sheeting has not been exposed to the elements. Built on jigs to insure perfect geometry. I checked these homes put last year, both display models and homes that people I know have bought from them. Very, very nice.

And financing is not a concern with a quality modular. Now if you look at some of the modulars being built by companys that also build manufactured homes, they do look crappy. I can see banks having a problem with that type of modular home.

I'm not really that handy. I can handle basic stuff or putting up fences and building a dog house. But not a house. My cousin went to school for architecture and technical education. He has plenty of connections for everything from excavation, grading, basements, building, electriccal, roofing,.... on and on.