Price of a new house in irvine
- Thread starter snake
- Start date
NEW -> Contingent Buyer Assistance Program
A typical $1 M new house, the land/site are about $350k and the dwelling are about $650k. $650k is not the cost of building the home, it's the price builder charges the home buyer.
The cost of the land is very hard to estimate too. Most builder here in Irvine don't develop the land, they bought the land from the land developer and that land developer usually is The Irvine Company. The builder might have to pay higher than $350k for a 4000 sq.ft. lot from The Irvine Company to build their million dollar homes.
FYI, The New Home Company, which build Amelia and Trevi in Orchard Hill, paid The Irvine Company on average of $1.05 million per lot.
J
jmoney74
Guest
$400/sq feet
zero lot
zero lot
snake said:
A typical $1 M new house, the land/site are about $350k and the dwelling are about $650k. $650k is not the cost of building the home, it's the price builder charges the home buyer.
The cost of the land is very hard to estimate too. Most builder here in Irvine don't develop the land, they bought the land from the land developer and that land developer usually is The Irvine Company. The builder might have to pay higher than $350k for a 4000 sq.ft. lot from The Irvine Company to build their million dollar homes.
FYI, The New Home Company, which build Amelia and Trevi in Orchard Hill, paid The Irvine Company on average of $1.05 million per lot.
How many sq/f are we speaking about for the lot and the for the house?
So what they quoted me is:
75k$ grading
300k$ foundation
225$ sq/f for a high quality house (very good plumbing, elec etc.)
house is a bit more than 3000 sq/f
So it comes to 325 to 350$ sq/f
But the quality looks to me much higher than the average house I see built by lennar, kb home taylor morrison or any other "mass production" builder.
The foundation for example needs drilling, caissons etc, all the walls are reinforced concrete.
I am wondering if I am missing something (and I get the little surprise down the road) or simply irvine is a stand alone case.
What I heard (lennar wisper) is different from what you are telling me.
I ave been told 600k to 650k lot, 250k to 300k house cost, the rest is the markup of the builder (50k to 100k max)
So what they quoted me is:
75k$ grading
300k$ foundation
225$ sq/f for a high quality house (very good plumbing, elec etc.)
house is a bit more than 3000 sq/f
So it comes to 325 to 350$ sq/f
But the quality looks to me much higher than the average house I see built by lennar, kb home taylor morrison or any other "mass production" builder.
The foundation for example needs drilling, caissons etc, all the walls are reinforced concrete.
I am wondering if I am missing something (and I get the little surprise down the road) or simply irvine is a stand alone case.
What I heard (lennar wisper) is different from what you are telling me.
I ave been told 600k to 650k lot, 250k to 300k house cost, the rest is the markup of the builder (50k to 100k max)
irvinehomeshopper
Well-known member
Land development in desirable cities of OC.
Builders construction cost is about $50/sf.
For a 2,000 sf home the construction cost is $100,000
At $400/sf selling price is $800,000. 87% of the selling price $700,000 includes cost of the land, overhead and profit. Builders profit margin is capped at some percentages like 6%-7% and overage goes to land developers.
Builders construction cost is about $50/sf.
For a 2,000 sf home the construction cost is $100,000
At $400/sf selling price is $800,000. 87% of the selling price $700,000 includes cost of the land, overhead and profit. Builders profit margin is capped at some percentages like 6%-7% and overage goes to land developers.