Cost of building a new home

rqjdsmomJuly 24, 2014

In 2013, in our fairly affluent Los Angeles neighborhood, a not-so-nice house nearby sold for $850,000. The buyer tore it down a built a GORGEOUS 4360-sq-ft Cape Cod/Hamptons style luxury home. The lot size is about 7400 sq feet. It's selling for $2.4M, which I'm sure they'll get for it. How much do you think it cost to build this house?

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aprillh

I'm not it sure how much it cost to build but I found this calculator online that I have used before. I found that it was fairly accurate. May give you a ballpark idea.

Here is a link that might be useful: Building cost calculator

    Bookmark   July 24, 2014 at 7:59PM
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MFatt16

I just plugged our stuff in and it was remarkable accurate. Interesting calculator, I flew through but if I took more time I wonder how close I could get it.

    Bookmark   July 24, 2014 at 8:59PM
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jdez

The calculator was way off for mine. It estimated $520k. That would put me in the poor house for sure!

    Bookmark   July 24, 2014 at 9:36PM
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renovator8

Any estimate based on nothing more than floor area, general location, and the asking price would be a wild guess.

It might have cost more than the asking price.

    Bookmark   July 24, 2014 at 9:48PM
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MFatt16

Mine was strikingly similar to our bids. I tried to be realistic but maybe I undershot on finishes. Who knows.

    Bookmark   July 24, 2014 at 10:09PM
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robin0919

LA is on another planet!

    Bookmark   July 24, 2014 at 10:14PM
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mushcreek

That was a fun exercise. There are too many variables that our house has that weren't listed, though. The final cost is probably pretty accurate, though.

    Bookmark   July 25, 2014 at 6:26AM
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patriceny

That was a fun exercise for me too.

I was as accurate as I could be, although like someone else said there were some variables that didn't exactly work. However it was only 8% over what we actually paid to have our house done, and given that we built 2 years ago and I just priced it now, that is shockingly close in my opinion!

    Bookmark   July 25, 2014 at 9:07AM
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Bridget19

We were told owner/builder, $80sq.ft. and that was doing a lot of the work ourselves or with friends. We are in South Florida.

    Bookmark   July 29, 2014 at 9:27AM
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Bridget19

We were told owner/builder, $80sq.ft. and that was doing a lot of the work ourselves or with friends. We are in South Florida.

    Bookmark   July 29, 2014 at 9:29AM
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