Originally Posted by
land118
Few months ago, my contractor asked me to pulled down my single storey and build 2 1/2 sty, he say 4K sqft, can charge me $550k include design, submission etc - it's for very basic furnishes, no basement, no difficult access - in terms of construction , etc. I asked him sure or not, he say confirmed. I tell so low price maybe too basic to stay, maybe sell can. I asked him why so cheap, as i thought it will be about $700k for 4Ksqft, he say because the design is standard. He is building one now. so architectural fees if not much deviate, his cost not much changes.
anyway...you work out. Even if $700k for 4k sqft - will be $175psf - more reasonable.
my place - land is 2800sqft, single storey, last transacted at same lane for $2mil , damn old condition. Opposite neighbour bought by small niche developer - land 2650, tear down, rebuilit, with 4k sqft build-in, asking for $3mil now. So if one were to buy land, built...sell , maybe can make $300k-500k not bad, but need to go thru hassles.
I confirmed this with my contractor, ask him why he don't go into small time developer, just do A&A and rebuild for others, he tell me he not enough cash/bank loan to buy land. Need Partner to support him.
Just some comments from what i heard.