Build Your Own House: Maximize Savings
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- Опубліковано 5 вер 2024
- You can save up to 30% on your new home when you build your own house. In this video, a builder shares the best options for maximizing cost savings when you build your own house. From taking on the general contractor role and managing the day to day as the construction manager to actually tackling some of the physical work...specific cost saving numbers are covered. How much do general contractor's make when building a home? What are the best building activities for DIY and how much can you save for each? Full disclosure, this video doesn't try to teach you how to build your own house in 3 minutes...for full details on learning to build your own home go to ownerbuildercl...
i love how there aren’t any professionals trying to get people to just pay them in the comments and people are actually being encouraging for once, it’s nice
If you're out there reading this just know you can do it!! Your gonna fail in this process but it's okay as long as you get back up💪. Your gonna lose some money,do things a few times over, cuss probably, and pray alot!! Keep going you just need perseverance and patience!!! Jesus was a carpenter so when it gets tough ask him for help. Good luck and God bless!!!!!
Jesus was a carpenter, and he ended up getting nailed to a piece of wood. We all make mistakes
@@joeryan1514 😆
Yep thank about ur wallet afterwards
If u build it on poor labor u will save 50% of that money for a 15milion dollar mansion and probably only have to pay 1 or 2 mil small prices are small prices if u bought the supplies yah it's gonna cost around the 5,000 Dollars area for equipment but those are chunk change imagine just paying millions and regret buying if u didn't like it the most EXPENSIVE one u probably ever have to buy is the land I paid 65,000 dollars for 100 ancres now it doesn't matter if it's flat round don't matter what the terrain is
It's not like u need a expensive land because ur just gonna build ur home or mansion and probably 90 acre lazy river spare the features and go for price because y complain about what u need on it if u just build over it I never I had dig a whole with a shovel when u can just get a good old 50thousand or a little higher bulldozer or what ever vehicle u need get yo friends family or anyone doing it for free to help u if u help me build I'll let u in my fridge and u can live with me they all would except the offer if that's the case 50% vs the full price what do u wanna pay for
People to build ur home and pay and risk feeling embarrassed because u asked to put a gun locker in every sqaure inch of the home and they ask wierd questions and start asking sus questions and feel like ur onto something
Spare the cash and get family or friends to help probably the best if u don't wanna be asked questions because if they ask at least I won't feel embarrassed because we'll there ur friends or family and they like u for who u r let's just say that's the case
I build mine I got huge home that only I know what's in and a 90 acre lazy river do I pay bills NAH why do I need to pay water I got air for free when u live in Texas things are as hot as it gets a dehumidifier machine for like 300,000 dollars probably expensive not really for me but whould u want a constant pay and have a thin wallet or u wanna keep it cheap same with electricity why do I need to pay a high bill if I have a whole lazy river that moves constantly and I can my hydro powered probably get some expensive motors probably less then what u probably more then what u whould need to pay for electricity keep the lights on and everything gas bill is not needed to pay if u got animals taking a shit in ur yard producing methane and turn into a flammable gas for ur stove I make around 500 to 1,000 gallons a day the internet and phone bill u can pay save money live better if wanna make a garden for fruits or something go ahead do it
Get bunch of chickens roosters I got 500 of them they just roam where ever pick up some eggs spare the drive why pay airport if u got a fighter get from a private military u made I have one I don't pay the personnels the government does plus I got 10 Inside 10 outside it's free and u don't have to worry for security
Thanks…. A lot
❤
I like the idea. Time is needed. Skill is needed . Tools are needed. Ambition is needed. Finding these 4 things combined into one person is very rare
You’re right Scott. Tools can be rented. Skill can be acquired relatively easily if you have the ambition you mentioned. As for the time, I figure the general contractor role requires an hour a day...yes this is hard for some but totally doable for four months. For those really strapped for time, I would recommend dropping the physical labor. One aspect I didn’t mention is that most folks have at least a couple close connections in the business that can help at discounted rates. Thanks for commenting
30 years in the trades and I know one thing. You do not learn from not doing. Tape measure a speed square a skill saw and a few nail guns builds 95% of the house. If you never built anything I suggest a person starts by building the nicest set of saw horses they can build. Before they know it they will have all four.
@@Justin-tb2qk By planning everything beforehand, thinking about every small detail and how are you going to do it, research about common mistakes about each section, a house made of timber or bricks can be made by one person with the help of wife, friends, family etc... Like you said, the equipment can be bought or rented, mastering one skill applies to the whole house. You need more than 4 months, taking holidays from your daily work to do it occasionally, work on weekends. It's all about patience, resilience and ambition like you said. Timber is relatively cheap, you will be spending more on plumbing, electricity, sewage/drainage/water connections, and buying of tiles, laminates, etc... It is possible.
@@muhammedkeser7064 absolutely, the biggest thing from me now and the me thirty years ago is speed and effort. But if a person can measure, mark and cut on the line he can build. Now if I am framing a wall I will take a plan, make a list, cut. 40 cripples, 20 jack studs premake all my headers and lay out the wall in a few hours. Same goes for finish work. I will make six window kits at the same time. The biggest cost mistakes for any diy'er is building codes. I use engineer plans with most projects.
@@Justin-tb2qk I agree. Build a shed for a friend to practice. If you can build a quality shed you can build a house.
Nice video, I have built 2 homes for myself. I was in a good position working for a plumbing wholesaler and had relationships with many builders. Without this I probably would have paid a premium for each sub not knowing what they typically charged. Each home took me about 1 year because I did all of the HVAC, plumbing, flooring, trim and paint myself. What I wound up with is a higher quality home for less than a standard home. Both homes had radiant heat and better insulation, air sealing and windows making them comfortable. The most important tip I have is make sure you have contracts that are clear in both the scope of work and payment schedule and create a work flow chart and schedule each sub at least 30 days out and confirm 2 weeks out. I built both homes with cash and my leverage was when the work was completed and inspections were passed I would pay them immediately. That helped me get subs to come as scheduled.
I was the contractor when we built our house. I thought it was great fun finding all the right people to do the right job and get the inspectors and such. That was back in '91.
I’m gonna be a carpenter for my career, is it cheaper to build you’re own home and how much? Thank you, also I’m doing a little electrical and plumbing myself.
The perfect video I needed. Planning to have my first owned home built by my own hands, and as someone who doesn't work in the field, this information is invaluable for me. Thank you
I loved this as I am currently considering acting as my own contractor to keep cost down. THANKS
I really want to build my own home all i need is 720 square feet
Solid Video. I've framed homes for 10 years and built a few customs as well. It's not for everyone, but for those prepared for a challenge can certainly build homes themselves. Videos like this helpnmake that possible!
It pays to know what your doing. A simple mistake can end up costing you a lot in time and labor costs. Having some administrative skills can really help too. I've done framing but there's the need to stay on top of construction codes in your local area. Sometimes, county inspectors do not like DIY'ers and you'll never get approved - some electrical inspectors want unions to be doing the work or else they may hold up the process etc. It can be a no win scenario sometimes with months of frustrating nonsensical corrections...
Thinking of moving from my parent's home to somewhere not in Socal where it's 100f normally, and building my own home, ideally in a small town in the woods. I've never been physically adept, but I've done each of the required skills individually on several small to medium projects with my father. But spending 20k on building my own home and doing everything minus the electrical grid stuff, and saving money is a great Idea as even a tiny 4 walled home the size of a small apartment room in California still costs 200k, any larger, explodes to 500k easily.
Man the framing and roofing is half the fun of building a house, you better believe I'd be doing that myself too (full disclosure though, I do have experience doing all these things). If it was my project the only things I'd sub out would be the concrete, the electrical, plumbing, HVAC, and drywall.
Same minus the drywall, though its a pain in the ass
Wow what a difference three years makes in prices. The inflation is out of control
I’m only 25 but I’m starting to get that maturity in myself where I don’t feel I should toss a few grand at my diesel truck for fun but I should get some land and maybe invest in a home, very much growing interest in this prospect as I can save money but also, have something that suits my wants later on, like a nice garage that will let me play with my diesel rigs later when I make more money and can enjoy it.
I think I would do electrical, interior, insulation, and other various things I have done helping family complete their basement. We saved a lot of money doing that and maybe overdid the insulation a bit but, you couldn’t hear people upstairs very well, or the room over, stable temperature all year, and didn’t cost as much as it would to have someone else do it.
Infact the only things we had contracted was carpet and drywall/mud. Let the pros do their thing with the drywall, that’s for sure, and might sound weird but, we got a ton of hard working Hispanic drywall crews around me that do a stellar job, give them some love.
Very smart, young man! You have your head on tight!
If you study how to do things and get the building codes there is no reason the DIY guy can’t do the plumbing, most of the electrical, the drywall, appliance installation. I did those and saved over 50k.
Nice Job!
I'm sure you're right, I just hate electrical. I'd happily pay an experienced electrician to do most of it. Running and connecting the circuits that is, I can mount electrical boxes on studs all day long.
I general contracted my current home about 20 years ago. I loved doing it. That being said, I was self employed at the time. Had I invested the same energy level in my business, I probably didn’t come out ahead as I neglected some aspects of it. That being said, my home improvement skill set grew and I’m still using it today. Even if was a wash, I got a good education out of it.
Prices have gone up so much in the last year alone (for both supplies and labor) relative to wages (which for many have not risen much if at all) that I wonder if the paradigm that you save more by contracting out the work is outdated. It's getting to the point that the average person cannot afford to have a custom built home. We anticipated about $380K for our build when we started last year. After recently bidding everything out it came in at $580K (for a little over 3,000 sq ft 3 bd 2.5 ba home). But our qualifying remains at $400K. We have already taken a ton of economizing measures (almost perfectly square footprint, build vertically, cutting more extravagant things, etc...). We are looking at eliminating a garage and bonus room and it is still going to be close. Meanwhile a couple bidders have already told us that their costs and prices are going up. By the time we actually break ground, our reduced home is still going to be nearly $600K. And we are not in a high cost area. It's very frustrating.
Where are you located? Same exact thing is happening here in Southeast Idaho and I can’t believe the prices compared to even 3-5 years ago.
@@samwalton5780 I am in the Midwest/Great Lakes area.
In the same boat as far as the astronomical price. We are just trying to get rough estimates from builders while basically taking the cheaper route with stuff like vinyl siding, and keeping the floors to laminate or carpet. Still getting rough estimates of over $200 sq.ft. here in northeast PA. I would think that the savings is still there as far as the general contractor since my understanding is that they will always charge you ~20% based on whatever the build costs. Might not save as much on your labor aspect but I would think there’s enough savings there to offset home furnishings.
Yes materials and labor are high. I would say consider having much less house. Since I don't know age, when retirement time rolls around most people downsize anyway.
Not saying this cause I did it, but I grew up in a 750 sq ft house. 2 adults 4 kids. Yes not ideal. But I learned a lot about making do with what you have. Who says you gotta have a different room for all activities. Society does I guess.
And consider doing two story since less foundation and cheaper to go up. Another way is spec out a smaller home less than 2k sq ft and then go find the materials cheaper
The biggest thing I have learned is plan , plan work the plan. Allow many hours of planning and take a year to build it. Keep the floor plan simple will also save money. Vault the ceilings but make sure to leave enough space for air flow and insulation. Here it's R38 code but yours could be more so you must allow enuf space for air and insulation. Less materials usually to vault the ceilings.
Anywho, good luck cause it can be stressful.
@@mikepeek5655 We "completed" the house last summer (2023) and came in under $500K with some significant upgrades for efficiencies. Better than we had anticipated, but still a lot more than we had hoped originally. We have done the small home route (1000 sq ft 3Bd/1Ba with us and 4 boys. We're kind of backwards with the larger home now since we're staring at retirement in the near future, but with prices so high, I am glad that we have the larger home as it may be needed with younger generations being priced out of the market. Either way, smaller more affordable or larger more expensive, we're "making do".
This is in line with my own plans. I only need the contractors to help build the house shell. This consists of foundation (concrete), walls (ICF but only need the concrete work done), roof, plumbing coming into the house.
At 1200 sqf, it’s not the biggest place, but big enough.
i agree, im a home theater tech, some people REALLY think by people like me and more seasoned skilled people like yourself giving tips will put us out of work.. guys thats not the case, i know how to do automotive work.. but i still pay someone to do it for me.. we will ALWAYS have work so trust me, when someone like this man is giving infomation just take it
I love your channel, been looking for something like this. It is my dream to become a home builder.
You can do it Mark!
Mee too
I’m a furniture builder and have built several decks, so I’m thinking about doing the framing myself. I’m just looking to build something pretty modest, a little bigger than a traditional cabin.
I think in the future I will do this. I've rewired an entire house before, replaced the entire plumbing system, drywall, insulation, reshingled a house. I read that I can get a 1000 sq ft slab poured for as little as 5k. That'd probably be the only thing I'd hire out as that's a drop in the bucket. Framing would be new to me but everything else seems just like a piece of cake. As long as it's land with utilities already there then I don't see this as being as crazy as most people think. I've fairly intelligent and have a STEM degree in Computer Science as well as restored a lot of cars that most people thought I was insane to buy. If I'm smart enough to do subjects as complicated as calculus 2 and advanced physics, I don't see how I wouldn't be able to figure out how to build a house myself.
where do you get a sale for 5000 on 1000sq ft?
@@emiliohuerta2658 Mexicans
Yeah in the end none of it is really rocket science I think what makes things a lot easier is the man power, in which one could probably hire family, friends or hourly day laborers to come help with most tasks just be sure to have a plan a triple check the work. That's essentially all contractors do some of those big construction buildings we see were built with a lot of help from hourly day laborers and those aspects are why some are great and other are terrible..
@@RealizniguhNit The biggest pain in the ass I imagine is getting your blue print plans approved by the city to build the house. When I pulled permits to do my rewire I saw this one guy kept coming everyday with his blue prints and they kept telling him nope you gotta fix this and this. Could tell he was frustrated.
@@smokestrong1000 Yep and that's why most experienced builders will avoid building in particular cities/counties/states altogether.
Very informative! Currently planning on contracting my build next year myself, having the closed shell built and waterproofed, perhaps icf, with of course electrical and plumbing, and the rest by myself maybe with some sub contracts when needed. I’m pretty handy I think, and like to learn . Will also mill or have milled some of my own wood for the project, for sidings, trims, the nice stuff. I expect huge savings on the thing, 1700sqft on one story on slab, so easy work.
Thank you for your video, I am now a subscriber. With the housing cost going thru the roof, here in Northern Michigan, I am strongly thinking about building my own home. I am a single guy and don't need alot. I just found your channel and will be looking thru the other videos and your websites. Again, Thank you.
Union carpenter here with a dream! Thank you for your videos 😊
Great video - Thanks'
I'm surprised you didn't include how much more is saved by not paying interest on the money they didn't need to borrow. That is also substantial, and makes it even more motivating to owner build
My husband works in home construction and he will start building our forever home next summer. There is very little he can't do. Other than foundation, Septic, electrical and plumbing, it's all my man!
He COULD do electrical but, I drew the line there! 😂
Got a family full of framers as I’m one myself , and most of my spouses family is either experienced in electrical or plumbing .
I wish general contractors only took 20%. I’d do it in a heart beat. Everyone now is out to retire off my job. If I sub out 150k for slab and framing. General Contractor wanted 320k . For the exact same thing.
Looking at building my own home (In Northern Maine) - I can do just about All of it. However , having done a number of foundations i understand all of what involved but moreover the labor is crazy if i do a full on basement. I Like the idea of pier and beam over a full on basement and opting for a large garage and moving the utilities to that.
The Building plans i'm looking at are VERY simple 1600 sq ft house , The framing - finish part i'm extremely confident in my ability to do it Solo , minus maybe getting the roof started ill probably need a second pair of hands .
The BIG intimidation part of doing this is dealing with local code enforcement , not that i'm worried about following code. Just the red tape of dealing with figuring it all out when it comes to stuff like finding out how solid the ground is and will i have to hire an engineer , the land i'm on was OBVIOUSLY graded to be built on , will i need new soil samples ect ? there is a pole already on the property as if to run electricity to a once existing home ...Our current 900 sq ft house on the same 5.5 acre property is supplied by a well , will i be able to use that well ?
In short it's all these obscure details that make me understand "WHY" contractors make what they make . it's nerve wracking when it's your property and iv debated on just fixing this house and expanding it but the basement concrete is very decayed , the sill around the house is horribly rotted , previous owner decided to make a 70 inch exit from the basement ...no big deal right ? well , the main beam to the house is centered over the super sketchy header to that custom basement exit ...but it gets even better , the floor joist BREAK 60% of the way TO the center beam on both sides nailed to a center floor joist .....So the amount of work repairing this house Basement ALONE , has pushed me in the direction of building new.
So I've flipped several homes successfully and the main thing you ne3d to know is Time = Money. The longer it takes you to install the items mentioned or other trades you want to tackle, the more it typically costs you in interest, taxes, having to live somewhere else etc... Yes you can do it but do you really want to?
You are doing Gods work by sharing this video, thank you 🙏
We’re planning on having a foundation and steel frame put up, then framing the inside, contracting out plumbing/electrical, and then finishing ourselves. Any wise words for (or from) those who have done the same in the past?
(I’ve framed and painted professionally, I have not done foundation/plumbing/electrical professionally, hence the breakdown)
How did it go!? We’re looking at doing the same!
So glad I found this channel.
That cool that you are honest and I would say do not use ubuildit for anything it would be better to just let a contractor do it all.
I want build my home ,I am a person who likes to find a way to save money . Thank you for the information. Thank you so much .
Thank you. May want to move to Utah, Az homes are 300- 600- 800 k common new now going up 10-15% a year lol
Depends what part of Arizona. There's still affordable homes in Arizona, only problem is they're out in the sticks. California has pretty much moved in and made Arizona California 2.0.
I love this builder, i will hire him for building mi houses. 2600 for trim is cheap and not mention 3500 to paint the extrior and intirior thats really cheap...come work for me sir
Thank you and please share more! I’m self employed and not sure if I’ll ever qualify for a mortgage and just need something appropriate for one adult
Also it is who you know. I have friends that are professional painters, carpenters, plumbers and drywall. I don’t expect them to work for free, but would save a ton of money. Also father in law does tile and flooring
Wise words I heard early in my life….
“Never hire a friend or family”
And I believe this. Already lived it and have heard others bad experiences. It’s just not worth it
It’s always been my dream to build and sell a home.
I recently quit my job to have the 2 week notice in and got hired 1 week later and will get paid 3-4x more, big risk, but worth it.
Will use the 3% first time home buyer to buy and rent the rooms, then start looking for land. My question is, are there loans that’ll allow you to build and sell with a low downpayment?
Because of the risk involved with owner builder loans, you will need 20-25% down and good credit to get a loan to build a home yourself
@@OpenBookBuild what about the fha builder loans, only req 3.5% down?
@@Dipper964 unfortunately those don’t work for owner builder construction loans...those are for finished homes
The way the world is going, it almost seems smarter to just build the home you're gonna die in. Everything, even bare land is getting so damn expensive after CovID.
As someone planning to move to the US soon, I've decided to try to be my own builder/ GC. The green card process is so ridiculously backed up right now, I won't be able to work in my field for at least a year properly (people don't really like hiring someone who may or may not be approved to be a legal worker every 12 months). I figure I'll use that time to save some money and build my own home while my wife continues her job. Based on my calculations, we'll be able to have a 200k home for 100k, and I'll know every step of the way was done to my standards and in a way I know how to maintenance.
Not possible, material costs, unless you mean mobile home
Great video! Thank you for sharing real numbers on a build.
I was my own contractor and save 40k.
Tax for my home? My home? Where I live? MY HOME? 1/3 of everything I make + more tax on what I own + tax + tax + tax. Im going to bed.
Haha ikr. Wish I knew more about taxes so I could cheat the system legally. Everyone else does it 🤷♂️
I love this i would love to build my own house 🏠 my credit is terrible but god knows i really would love to build my own home
Have faith don’t give up on it talk to a Financial counselor they help with Credit as well and taking somethings off
I see here that you mentioned some of the savings you give yourself if you do the manual labor yourself.
My question is, if you had someone who has worked as a sub/handyman that knows most of the individual aspects of building a house, but has never been a contractor..
its theoretically possible to save a lot more money by doing more of the physical labor yourself right?
If we had someone to guide the work? we could get more DIY work done?
Like framing for example, or electrical/plumbing
Absolutely Brandon. If you can work alongside someone who knows the trades the savings can increase big time.
Love stuff like this I’ll love to help
You also forgot about the Real estate commission....I think about 6% to your real estate agent on a $200,000.00 house (if you bought the same house completed).
That's not how it works. Sellers pay realtor fees in almost every retail transaction.
What is the best way to find the process of building a home? Say you have a lot selected, maybe even purchased, at that point what do I do? I figure having a surveyor come out and inspect the property and having the foundation complete but how do I know the step by step process. Is it generally included in blue prints? I hope that question isn't coming off like I want literal step by step 'install screw here' instructions. I just want a general outline for what has to be inspected and make sure I don't miss any steps.
Hi Michael. There are lots of resources available for owner builders to learn from. And my favorite of course (warning; shameless plug coming) is our new online course for owner builders. It’s a self paced course showing all of the details required when building your own home and shows you how to manage the process. We cover things like…how to find quality tradespeople at reasonable prices. We also go through the actual daily construction schedule and how long each activity should take. We talk about the process of building a budget so you know how much your dream hone will cost. This is just a tiny portion of the details covered in the owner builder course. You can learn more about the course here…
ownerbuilderclass.com
I literally just want a front door , a bedroom and a bathroom some windows and a 1 car space . No trim designs or any of that . I don't need a kitchen because they make tiny butane stoves
Straight to the point! Love it🤘
Thanks for video. Why you don't mention anything about real estate seller profit margin? It can be up to 20% as well. I guess if you do DIY building you safe on that as well
1:30
Notes for myself and Husband!
😊👍
As of late I have found building to be my most reasonable method of getting a home..
I work for a businessman who I've learnt a lot from just by observations...
I have tools, I have the skill, I need to get this ball rolling.
How do they calculate your gains for taxes if you flip it?
Interesting - what are the other items that the new home builder need to know that has to be done so s/he could be the self-contractor. How do they start? so many questions.
Finally, someone who lays out the simple math.
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im 17 and dont know what i want to do in life. im graduating this year and i was planning on working 60 hours a week over the summer to save up to start building my own house big enough for 4 people. I was going to get used materials and cut my owns trees for wood. Do you have any tips on what i should be doing now. I have no experience other than finishing my basement in my current house. Is it even possible for me at 18 to build a house big enough for 4 people?
I did it at 38...my greatest advise...do it and do it and don't wait. Just do it. Youth is wasted on the young. My only advise is don't cut corners they just are later regrets. Buy a mill and machines and land. Don't wait 30 years it is harder and you will waste so much energy working for nothing. You can get it now and then you still can for the next 30 years work for other people after you have your home. Do it!
@@Justin-tb2qk Yeah man. I've been considering doing carpentry or Journeyman Carpenter.
Nice
Cutting trees for wood takes a while for the curing process. Depends on type of wood, climate etc. A basement ain't jack compared to a whole house. I ain't saying u cant do it. But u probably won't. My uncle whose built 4 houses himself said something along those lines.
I built a tiny house first to get all my processes figured out. Next I’ll be building a ~1,500 sq ft home. After that I hope to rinse and repeat every two years.
very great info. that way make good quality house and save money, cheers
What if you aren’t a carpenter, electrician, plumber, mason etc? I’m an engineer, but I work on analytical lab equipment. How difficult is it to learn everything?
How do you feel about panel homes?
I wish there was a 3d design i could just get for the framing that tells me exactly the measurements and other info. I want to do all that you mentioned myself and plus the framing and drywall.
Google chief architect. If you want to do framing etc though try to find a carpentry textbook its not rocket science but there are important things you need to k,ow
@@cdreid99999 thanks man i actually checked it out.
Sketchup
You can just buy the plans online
Great information. Thank you!
I got a house awhile ago its just very far from livable the bathroom and kitchen are the 2 issues in this house which is what we need to live in it, we have to move i cant afford to rent the place im in the only option left is to figure out how to make the house livable trying to figjre out how to put a kitchen and bathroom in. Floors are all hardwood just need cleaned and waxed i can do myself and walls painted thats it. The kitchen and bathtub are non existent so i have to figure out how to get those things with about 3k check coming in the mail.
This was pretty helpful
Going to build our home how do I find subs and what order does everything go.
Meanwhile im doing it all because I can. Will it take longer? Yes. But ill also have a 2k sq ft home built for under 75k so...
Great video. Thanks for sharing.
My day job is watching videos on UA-cam...
I'm newly retired, i'll give it a go ...
What if your day job is a home inspector?
great video, Thanks.
Very helpful
Gotta love how its to Save you money do it yourself.. then literally the first thing is to belittle people and say keep your day job.. 😂 I did build my own house. Using mine and my husbands hands. 4 weeks for the main structure. Once my 4 bd 2 bath 2 story was finished our total price was $40,000 verus subs in the hundreds of thousands..
DR Hortons 20% margin, is it before deducting cost for realtors fees, model home building costs and maintenance costs, sales reps, advertisement..etc?
Hi Alexis. Typically, gross profit margin is determined by taking the sales price and subtracting all costs to build the house including labor, materials, permits, impact fees...etc. The gross profit margin typically does not include overhead costs like model homes, maintenance costs, advertising, office space leases...etc.
@@OpenBookBuild I have had an idea for building on my lot for several years. All around my house, builders and home owners are tearing down those old rambler and built mcmansions. I am still learning how to build home. You give me lots of information I need to learn. After built first one, I would like to build second house. It seems the first one is pretty hard to start. Thank!
i wanna build my own place one day and only hiring an electrician and possibly a plumber but do everything else myself
I wish I had paid more attention to my dad when he was building homes!
It's crazy to hear you use the price of 200k and see the video is only 3 years old. It's amazing how much the price of homes has short up in that short time period.
What would the cost for sq ft be in delaware to build the home featured on open book build?
Very informative
Is it difficult to finance an owner builder construction loan? Would banks require bonding for the build?
Hi Deb. Financing is very case specific in that it depends largely on your credit rating and financial situation, type of home being built, and location. I know of many lenders that do not require bonding but I have heard from a few of our students that they were required to provide that extra security to the lender. Are you in Hawaii? One of our students is located on Oahu and did need to be bonded.
Is it possible to get a loan to build a home with you doing everything yourself? I'm an electrician with some prior carpentry experience so I'd be doing most of the work myself. I'm a veteran so I qualify for the VA loan but I think you need to use a GC to use their financing.
Check with you local building department but as a home owner you can pull most permits to diy it.
Whast is your cost to build per sqft?
So, cost per square foot is only useful if you know what the house looks like. We just finished up the Open Book Build prototype home. It's a well appointed ranch home with ready to finish lower level. Cost was $147 for the main floor and once we finish the lower level, it will be about $100. Here's the video...ua-cam.com/video/cZjW7AwvebA/v-deo.html
I'm offering free cost adjustments for wherever the viewers are...so let me know what metro area you live by and I can give a cost adjustment for you.
@@OpenBookBuild I live in a suburb of New Orleans--(Metairie/Harahan/River Ridge)--can you give me a cost per sq ft for that area?
Not me having hyper fixation and wanting to build my own house ☠️😂
Is it worth it to buy land and build on new land or buy an existing home and tear it down and rebuild?
Hi Rusty. There are a lot of things that go into that decision. I wouldn't hesitate to tear down an older home that isn't repairable if it gets you the building location you want. Keep in mind, the cost to remove, haul away an old home can get expensive so cost should be considered as well. I'm not sure that answers your question...
I wish we were young again....
if I am not a contractor do I need a special permit to build my own home?
Hi Ignacio. Typically it’s the same permit but some communities want you to sign a form acknowledging you are aware that you are fully responsible for the outcome as an owner builder. Check with your local building department to see what special requirements they may have.
yes i did found this video helpful
Buy your own land build your home
Nice channel
appreciated it
How can you draw the money from the bank if you act as GC to your own house? They bank wouldn’t let you draw any money unless they see the progress!
The bank will perform draw inspections for owner builders...just like they do for professional home builders. They give you money to start the house and then they inspect to make sure you actually built the foundation and didn't go to the casino instead!
@@OpenBookBuild As an Asian I love going to casino lol. Anyway I’m in NC own the land, pre qualified for the construction loan. have the plan, have the knowledge in constructions just don’t know where to start. I just backed out my contract with my GC because it took him more than 6 months to get permit approved. I’m trying to build the house as own project manager. Will you please guide me?
@@zarne2061 The best I can offer is our online course, “How to Build Your Own Home.” In this self-paced course we have you follow along as we build a home. Along the way we share professional builder resources and secrets that help you get the job done per budget and per schedule. I offer my personal email address to enrolled students to ask questions about their personal building project. You can check the course out at ownerbuilderclass.com
Do you have to have any sort of licensing in order to act as the general contractor on your own home?
Great videos by the way!
Hi Nathan. In most cases, you don’t need a license to build your own home. Some municipalities do have special requirements for owner builders...just put a call into your local building department to find out. Take care
@@OpenBookBuild That's awesome, thanks!
Im not sure how he can use an example of $200k house build?
200k can't buy you a 3 bay garage w storage above these days!
???
200k home lol what dimension does that exist in. Maybe a 1000sf house
I like it I don't not kill trees you can use dead trees are dead trees you can use. That why we can die without living trees
Great intro tho
Some of those are SUPER LOW numbers
Post covid savings conversion: 10x whatever he said. Lmao
I’m 20 years old, can I build my own home regardless? I’m already a homeowner
Absolutely Holly. However it’s essential that you take the time to learn everything you can about the process before starting. There’s all kinds of owner builder information out there to help you.
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