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Build on your Lot homes?

Posted by on Aug. 6, 2016 at 2:19 PM
  • 12 Replies

Anyone know anything about these? My husband and I are workingo n our credit and saving so we can get into a home here in the next year or 2. I've been doing lots of research and it seems the option with the lowest risk is these companies that build on a lot of your choosing. I'm looking at 2 companies right now. Hiline Homes and True Build. HIline has more options and is a little cheaper but truebuild is more upfront with their options and what comes standard. The cost of land where I'm at is actually reasonable so it wouldnt' add too much to the cost.

Anyway I'm just curious is anyone has an experience with these types of builders. I know they're very "jonesish" and not too much variety but I'm ok with that. I'm just looking for something that is functional and nice. Without spending 200k or more. (Which is the cost of the "good" homes in my area Unless your looking at a forclosure.)

by on Aug. 6, 2016 at 2:19 PM
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Replies (1-10):
mischele
by on Aug. 6, 2016 at 2:24 PM
Sorry I have no idea we won't be looking to buy a home for another 10-12 yrs. here's a bump
EireLass
by Ruby Member on Aug. 6, 2016 at 2:27 PM

Are you looking at "pre-fabs"? They can be pretty nice. But don't forget all the costs.....lot, driveway, tree removal, boulder removal, foundation, septic, well, electric poles, button up cost, etc. Sometimes all we do is look at the cost of land ($50k) and the cost of the structure ($50k) and forget about the other $50k.

2murphyboys
by Member on Aug. 6, 2016 at 8:41 PM

I think its somewhere inbetween prefab and building your own. You still have a contractor and they build it where you tell them. However the have the designs and stuff already done and are suppliers and such. Everything is still built on site tho. 

I'm asking because I want to knwo peoples experiences and thing I need to watch out for. Questions I need to ask and the like. I figure a decision like this should be taken slowly and not made quickly. That I need to take my time and research all the options and then decide what I want to do.

The property I'm looking at using doesn't have any tree's to be removed (I might plant ones after the house is build if we choose to go this route). The site is ready for the city utilities  and the foundation is included in the cost. No septic or well. But I'll double check that it includes bringing the plumbing from the curb into the house or if that's more.

Quoting EireLass:

Are you looking at "pre-fabs"? They can be pretty nice. But don't forget all the costs.....lot, driveway, tree removal, boulder removal, foundation, septic, well, electric poles, button up cost, etc. Sometimes all we do is look at the cost of land ($50k) and the cost of the structure ($50k) and forget about the other $50k.


Element5
by Member on Aug. 7, 2016 at 9:19 AM

Mobile Photo

We an not find anything we love and looked into this as well..

It costs about $100 per sq foot ( cheap is $80) to build your own home. This is decent finishes.. Not sure what your taste is but I know I will take nothing less then granit in the kitchen and nice alliances.
Each state has different builders.. So these are some of what we looked at David Weekly, Sabel ( my fav) and Arthur Ruthenberg ( hubbys fav)Up north we heard of Toll Brothers ( I think they are in Tx as well)

Just keep in mind that if you purchase a lot make sure it is in a great school zone.. 10 for all 3 schools and you will never have a problem selling it.

Speak to builders representatives many or all! See what design they can recommend, also important where the sun rises and sets, see what they suggest.. See what you like. And you must visit their model homes to see!

Pic is of a floor plan that we loved with few modifications! Good luck!

Ps do not know why it said Tx.. Lol we are in Fl
EireLass
by Ruby Member on Aug. 7, 2016 at 10:18 AM

It's very exciting! Good luck!!

Quoting 2murphyboys:

I think its somewhere inbetween prefab and building your own. You still have a contractor and they build it where you tell them. However the have the designs and stuff already done and are suppliers and such. Everything is still built on site tho. 

I'm asking because I want to knwo peoples experiences and thing I need to watch out for. Questions I need to ask and the like. I figure a decision like this should be taken slowly and not made quickly. That I need to take my time and research all the options and then decide what I want to do.

The property I'm looking at using doesn't have any tree's to be removed (I might plant ones after the house is build if we choose to go this route). The site is ready for the city utilities  and the foundation is included in the cost. No septic or well. But I'll double check that it includes bringing the plumbing from the curb into the house or if that's more.

Quoting EireLass:

Are you looking at "pre-fabs"? They can be pretty nice. But don't forget all the costs.....lot, driveway, tree removal, boulder removal, foundation, septic, well, electric poles, button up cost, etc. Sometimes all we do is look at the cost of land ($50k) and the cost of the structure ($50k) and forget about the other $50k.



bluebunnybabe
by Member on Aug. 7, 2016 at 10:22 AM
I really don't know anything about them. I think here if you own your land outright, it's much easier to get financing on having a home built but that's about it. We've bought several foreclosures over the years & I like going that route because of the pretty much instant equity. Good luck!
2murphyboys
by Member on Aug. 9, 2016 at 8:41 PM

That's something we've discussed in the past as well. Only reason we decided against it is because most of those you have to have the cash outright. Which woudlnt' be an issue if it was only 20k (Not that we have that in the bank now but once I get some health stuff taken care of it won't take us very long to save it) but even forclosures around here go fro an average of 50-75 and honestly they're usually so trashed that you have to put at least that into them. Sometimes they're worth it but you just never know. 

However it's not completely off the table. I'd love to hear about your experiences with it!

Quoting bluebunnybabe: I really don't know anything about them. I think here if you own your land outright, it's much easier to get financing on having a home built but that's about it. We've bought several foreclosures over the years & I like going that route because of the pretty much instant equity. Good luck!


2murphyboys
by Member on Aug. 9, 2016 at 8:47 PM

I'd love to see a bigger picture of that! You should start a blog or something to document your experience. 

Here we have 3 choices (that' I've found so far) Trubuild, Adair and Hiline. I like Trubuild the best so far but that's because they have the most information available on their website.

I don't have to have granite but I would like some kind of light weight none wood counters. I want a huge kitchen that is the focal point of the house. Where all the "life" happens and it's easy to entertain and such. I want to be able to have more then one person in it and still be able to move around comfortably without issues. My family is big on cooking. My dad's a chef, my brother and SIL both love it (she even has a culinary degree) and I'm a big Baker. 

What's going to be your focus on your house?

Quoting Element5:

Mobile Photo

We an not find anything we love and looked into this as well.. It costs about $100 per sq foot ( cheap is $80) to build your own home. This is decent finishes.. Not sure what your taste is but I know I will take nothing less then granit in the kitchen and nice alliances. Each state has different builders.. So these are some of what we looked at David Weekly, Sabel ( my fav) and Arthur Ruthenberg ( hubbys fav)Up north we heard of Toll Brothers ( I think they are in Tx as well) Just keep in mind that if you purchase a lot make sure it is in a great school zone.. 10 for all 3 schools and you will never have a problem selling it. Speak to builders representatives many or all! See what design they can recommend, also important where the sun rises and sets, see what they suggest.. See what you like. And you must visit their model homes to see! Pic is of a floor plan that we loved with few modifications! Good luck! Ps do not know why it said Tx.. Lol we are in Fl


bluebunnybabe
by Member on Aug. 9, 2016 at 8:58 PM
Ugh, how much time do you have? Lol. I've bought foreclosures from needing a few repairs to our current home which was completely gutted. I do know that while the FHA 203K can be a bit of a pain, it is a rehab loan that only requires 3% down & your major repairs are rolled in to the loan so if you could find a house that would be worth even say 125K after 20K worth of repairs for even 80K, you would still be way ahead & have a reasonably low interest loan.

Quoting 2murphyboys:

That's something we've discussed in the past as well. Only reason we decided against it is because most of those you have to have the cash outright. Which woudlnt' be an issue if it was only 20k (Not that we have that in the bank now but once I get some health stuff taken care of it won't take us very long to save it) but even forclosures around here go fro an average of 50-75 and honestly they're usually so trashed that you have to put at least that into them. Sometimes they're worth it but you just never know. 

However it's not completely off the table. I'd love to hear about your experiences with it!

Quoting bluebunnybabe: I really don't know anything about them. I think here if you own your land outright, it's much easier to get financing on having a home built but that's about it. We've bought several foreclosures over the years & I like going that route because of the pretty much instant equity. Good luck!

2murphyboys
by Member on Aug. 9, 2016 at 9:34 PM

lol You should message me your experiences! That way we can just go back and forth whenever we have the time :) I'd really love to hear more and even see pictures if you have some?

Quoting bluebunnybabe: Ugh, how much time do you have? Lol. I've bought foreclosures from needing a few repairs to our current home which was completely gutted. I do know that while the FHA 203K can be a bit of a pain, it is a rehab loan that only requires 3% down & your major repairs are rolled in to the loan so if you could find a house that would be worth even say 125K after 20K worth of repairs for even 80K, you would still be way ahead & have a reasonably low interest loan.
Quoting 2murphyboys:

That's something we've discussed in the past as well. Only reason we decided against it is because most of those you have to have the cash outright. Which woudlnt' be an issue if it was only 20k (Not that we have that in the bank now but once I get some health stuff taken care of it won't take us very long to save it) but even forclosures around here go fro an average of 50-75 and honestly they're usually so trashed that you have to put at least that into them. Sometimes they're worth it but you just never know. 

However it's not completely off the table. I'd love to hear about your experiences with it!

Quoting bluebunnybabe: I really don't know anything about them. I think here if you own your land outright, it's much easier to get financing on having a home built but that's about it. We've bought several foreclosures over the years & I like going that route because of the pretty much instant equity. Good luck!



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