Can you build for $350 per square foot?

I have a friend who recently finished his own owner build and moved in two weeks ago.

Site prep for this build started last spring, so they completed things end to end in under 9 months, which is a very solid build cycle for an owner-builder.

I just spoke with the owner yesterday as they worked on finalizing things to close out their construction loan and have it displaced by their conventional mortgage.

Their construction costs (in addition to their building lot) came in at around $690,000.00 for a 1950-square-foot bungalow, giving them a cost per finished square foot of about $354.

If you've watched my rough budget video under the classroom tab, you'll know there are still some critical questions to ask yourself before you take this number and run to calculate how much it would cost you to build.

THE RIGHT QUESTIONS TO BE ASKING HERE ARE:

Did the owner just manage the build, or did they do any physical labor of the conventional sub-trade scope of work themselves?

Does this number include their well, septic, driveway material, and soft costs of permits etc.?

Did they finish their basement?

Did they choose any abnormally expensive (or cheap) finishing materials or mechanical systems?

I'm going to give you the answer to all of these questions in regards to this specific build in an upcoming video, but my main question for you today is:

QUESTION FOR YOU:

Could you afford to buy land and build a home that would accommodate your needs anywhere near your desired area if you could build for $350.00 per square foot?

Comment with your thoughts down below!!!

I hope some of you can take on your own builds in the near future.

Regards,

Mitch

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