Activity
Mon
Wed
Fri
Sun
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
What is this?
Less
More

Memberships

Builder Launch

Public • 571 • Free

11 contributions to Builder Launch
Hiring a custom home builder for part of the work. Hybrid GC approach. Thoughts?
Here's my story. We bought a home in South Burlington 3 years ago. There were tenants but the seller bought them out to vacate because our builder said we'd be building in months. We started working with a builder who is a build plus builder. After we took possession the builder said we'd be building in a few months. Never happened. They gave us the name of a planner who dropped the ball and never filed the minor variance (after we learned 9 months later). We disconnected all the utilities as per the builder's request. Eventually when we got the variance approved in December 2022 the butterflies in my stomach were saying that we can't continue with this builder. Things didn't add up to this point so we basically gave them notice (we're looking at our legal options but that's another story). We decided to put our property up for sale and rent simultaneously to maximize our options. We didn't get the offers I wanted. So we are back at considering build again but the quotes we've got are significantly above budget. I talked to a homeowner who got a custom build done that suggested I hire subcontractors to do the kitchen, bathrooms, tiles, flooring, painting and get a builder to demolish, pour the concrete, frame, drywall, doors, windows, plumbing, electrical, etc and to postpone building the basement for 2 years. He found significant savings this way (eg. painting for $3000 + cost of paint vs $30,000). We're not looking to have $600 taps in our home (frankly, from our experience proved to be far less reliable than many other common brand names). Above ground (2 storey) total square footage is 3800 square feet. Basement estimated at 2100 sq feet. I'm trying to get in a total cost of $1.4 million. Question: If we take the approach suggested above ie. builder builds up to the point of inside finishes what would the estimated cost be?
1
4
New comment Apr 5
1 like • Apr 2
Way too many variables. I definitely think you’ll save significantly by the hybrid approach. And you’re not being unrealistic at 1.4. Larger homes will usually bring your over cost per sq down. If it were up to me, I’d get quotes for getting to enclosed, you’ll have a lot more control with the finishes and can also go cheap and upgrade later.
Plans Done. Financing done. What's next
Here is a small update for everyone. Anyone with advice or any initiative to help please comment or PM me. Our plans are done. Here is what is left we have to do. I assume we will be putting the shovel in June. 1) Septic design ($2000-4000) 2-4 weeks 2) Geothermal design (1000) 2-4 weeks 3) Engineered windows/energy report because our windows cover more than 22% of exterior (1200) 1 week 4) Truss and joists Desgin and quotes (free) 2-4 weeks 5) Finalizing survey/ site plan (already paid 12,000... I expect to pay another 2000) 1 week 6) Heat-loss (300-500) 1 week 7) Solar system Desgin (free) to be included on detached workshop roof 1 week 8)GRCA PERMIT (500) unknown 9) building permit/city fees
3
12
New comment Apr 5
0 likes • Apr 2
Nice. Where abouts is the build. Interested in how this all comes together
Determining Average Cost for Construction Project
While I understand that the cost of construction can vary based on factors such as plans, materials, and others, I am encountering a wide range of price estimates for my upcoming project. It would be greatly appreciated if you could assist me in determining the average cost of building for a property like mine. The project involves a 1 basement + 3 floors wooden structure, with 4 rental units, each with a living area of 1000 sqf, totaling 4000 sqf. The objective is to use rental-grade materials without extravagant features. The facade will consist of brick with a metal covering on the top floor and a flat roof made of elastomeric material. The project is placed in am metropolitan area with all the permits ready to brake the ground (no soft cost).
0
7
New comment Mar 27
1 like • Mar 22
I suggest watching Mitch’s videos as a start. Then you got to just get on the phone and try to squeeze information out of contractors/builders. Sometimes I wonder if they realize how important a budget is for financing and that without it, nothing can happen. Because your looking at a much more unique build with four separate units, any residential quote won’t be adequate because you’re probably looking at more for tradespeople (4 separate meters, maybe hvac units, higher water needs.) That’s being said, if you can get quotes for structural elements (foundation walls roof and trades). I find depending on your area, you can finish a basement into an accessory apartment for around 75/sq foot (that’s drywall, floors, cabinets, fixtures paint and trim). Which would be similar to what it sounds like your building.
Framing Price Per Square Foot Quotes
I’ve been chatting with some framers this week and hearing that local framing prices are ranging between $15-$20 per square foot depending on roof complexity. This is labor only no material of course. I remember about 7 years ago when it was closer to $10 per sqft! Has anyone else gotten quotes to compare notes? If so post below!
0
8
New comment Mar 6
1 like • Feb 26
I’ve gotten 3 in Durham region. 14, just under 20 and 27 (plans with vaulted ceiling’s increase cost per square) so I would say it’s the same in this area. That being said, it seems like trades and even building companies are really trying to “sell” so I wouldn’t be surprised that some might be able to haggle a better price.
0 likes • Mar 6
Just spoke with a guy I know who runs a pretty large holding company, specializing in purpose built rental developments in Toronto. He was saying that many if not of his contacts in the sub trades are laying off like crazy. “Foundations aren’t being poured” is the quote I keep hearing so I wonder if labour costs are going to start coming down as a result of more competition for bids.
Construction loan
I’m having a hell of a time sorting out financing… any one have any good resources or contacts for construction loan?
0
10
New comment Mar 21
1 like • Mar 6
@Mathew Newcombe I spoke with an underwriter directly from pillar a few weeks back and they said that they’ve really tighten down on what they’re willing to be lending out for the time being. I’m wondering if they’ve sustained some losses with more builders going into receivership. I’m kind of interested to hear about your experience though as it’s been one step forward two steps back for over a month now. @Mathew Newcombe
1-10 of 11
Jonathon Jack
2
13points to level up
@jonathon-jack-5014
Real estate investing experience, DIY renovations, part-time realtor.

Active 145d ago
Joined Jan 16, 2024
powered by