Random Thoughts - Part Deux [NO POLITICS]

[NoHaveMSG]

Some V12 goodness around Monaco

[soundman98]

Originally Posted by nextcar

You may want to take out a construction loan even if you have the cash...

Cost overruns are a given...
When you need something done to keep the build on track cash is king... but:

It is very common for contractors to have cash flow problems and delays... they WILL pressure you for money before tasks are completed

Banks are neutral and will not release payment until the task is done and signed off/inspected. Contractors know they can’t play the pity game with a bank.

Look into it

I believe the official recommendation is something like 15-30% of the quoted cost to expect in overruns. New houses never go exactly as planned. Enginerds put plumbing feeds in the middle of structural beam supports, light switches in solid columns, and don't account sometimes for reality.

And there's always stuff that gets added once the frame is up and people can get eyes inside the structure for the first time(add a closet door in a blanked off opening, move the a/c off the area perfect for a deck away from the party area, etc)

[NoHaveMSG]

Originally Posted by soundman98

I believe the official recommendation is something like 15-30% of the quoted cost to expect in overruns. New houses never go exactly as planned. Enginerds put plumbing feeds in the middle of structural beam supports, light switches in solid columns, and don't account sometimes for reality.

And there's always stuff that gets added once the frame is up and people can get eyes inside the structure for the first time(add a closet door in a blanked off opening, move the a/c off the area perfect for a deck away from the party area, etc)

In today's market it is also important to account for the rapid rise in material costs. When my buddy started his house to when it was time to build it material had went up dramatically and ended up costing him close to 40K extra. Just sheeting his roof was 6500 more then planned. Decking the foundation was even more.

[nextcar]

Originally Posted by NoHaveMSG

In today's market it is also important to account for the rapid rise in material costs. When my buddy started his house to when it was time to build it material had went up dramatically and ended up costing him close to 40K extra. Just sheeting his roof was 6500 more then planned. Decking the foundation was even more.

So true! Right now prices are CRAZY for building materials. That is the only good thing about having to wait for all the paperwork and permits!!!

[p1l0t]

Originally Posted by NoHaveMSG

In today's market it is also important to account for the rapid rise in material costs. When my buddy started his house to when it was time to build it material had went up dramatically and ended up costing him close to 40K extra. Just sheeting his roof was 6500 more then planned. Decking the foundation was even more.

Originally Posted by soundman98

I believe the official recommendation is something like 15-30% of the quoted cost to expect in overruns. New houses never go exactly as planned. Enginerds put plumbing feeds in the middle of structural beam supports, light switches in solid columns, and don't account sometimes for reality.

And there's always stuff that gets added once the frame is up and people can get eyes inside the structure for the first time(add a closet door in a blanked off opening, move the a/c off the area perfect for a deck away from the party area, etc)

Originally Posted by nextcar

Do you have an architect? Have you built a home before?

Things may be quite different for you, but for me the process is more like:

1) Survey
2) Soil testing
3) Architect draws up preliminary plans
4) Civil engineer does grading/drainage plan
5) File for permits (grading, building, water/sewer, etc)
6) File with the coastal commission (pretty sure this does not apply to you ;-))
7) Public notice/hearings...
8) Structural engineering
8) MEP (Mechanical, Electrical, Plumbing) plans
9) Builder's plans

Roughly 1.5 years before breaking ground. Ugh!

Originally Posted by nextcar

You may want to take out a construction loan even if you have the cash...

Cost overruns are a given...
When you need something done to keep the build on track cash is king... but:

It is very common for contractors to have cash flow problems and delays... they WILL pressure you for money before tasks are completed

Banks are neutral and will not release payment until the task is done and signed off/inspected. Contractors know they can’t play the pity game with a bank.

Look into it

Originally Posted by soundman98

Geothermal guys still recommend having a standard heater because the ground loop can't always keep up. About doubles the cost of the system.

And I haven't checked in a few years, but the typical life expectancy of solar panels is about 10 years, where the break-even point on install costs was hovering around 12-15 years...

Yes, still doing a standard gas heater the geothermal will just be a bonus. I do plan on taking a construction loan. My house is only selling for $180k, and I do own it outright but I'm sure I'll be in the $300-400k range all said and done even if the original qutoe is $200-250k Is like when I go on vacation. After I buy airfare, hotel, rental car and everything I add it all up and bring that much cash! Works pretty well actually.

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[NoHaveMSG]

Originally Posted by p1l0t

Yes, still doing a standard gas heater the geothermal will just be a bonus. I do plan on taking a construction loan. My house is only selling for $180k, and I do own it outright but I'm sure I'll be in the $300-400k range all said and done even if the original qutoe is $200-250k Is like when I go on vacation. After I buy airfare, hotel, rental car and everything I add it all up and bring that much cash! Works pretty well actually.

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My uncles place has geothermal heat piped into polished and stained concrete floors. It is pretty nice, especially in the winter time.

[soundman98]

Originally Posted by NoHaveMSG

In today's market it is also important to account for the rapid rise in material costs. When my buddy started his house to when it was time to build it material had went up dramatically and ended up costing him close to 40K extra. Just sheeting his roof was 6500 more then planned. Decking the foundation was even more.

a co-workers girlfriend is building a new house in my area. since they signed the contract just before covid, the contractor has raised the price of that spec buildout to $70k.

now is not a good time to build.

[p1l0t]

Originally Posted by soundman98

a co-workers girlfriend is building a new house in my area. since they signed the contract just before covid, the contractor has raised the price of that spec buildout to $70k.



now is not a good time to build.

It's still better than trying to buy.. I'm not sure if waiting would payoff or not though.

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[nextcar]

Originally Posted by p1l0t

It's still better than trying to buy.. I'm not sure if waiting would payoff or not though.

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Well, my point was that you will kind of be forced to wait... it will be a while before you break ground!

[cjd]

Originally Posted by soundman98

move the a/c off the area perfect for a deck away from the party area, etc)

It's fine under the deck. Not like that'll trap air or cause any other issues... (One moved out, one to go... If last fall was any indication, maybe this year...)

[spcmafia]

Every time I see questions, and edgy responses on the BRZ/86 enthusiast page on Facebook I lose a couple of neurons on top of the ones we lose everyday.


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[NoHaveMSG]

Originally Posted by spcmafia

Every time I see questions, and edgy responses on the BRZ/86 enthusiast page on Facebook I lose a couple of neurons on top of the ones we lose everyday.


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People think this forum can be harsh, nothing compared to the FB pages.

[humfrz]

Originally Posted by soundman98

a co-workers girlfriend is building a new house in my area. since they signed the contract just before covid, the contractor has raised the price of that spec buildout to $70k.

now is not a good time to build.

The house is going to cost a whole $70k -

[humfrz]

pa-pa couldn't help posting this picture ma-ma took yesterday.

Guess which one is the most devilish?