Preliminary Budget

New Home Profile  
Levels Single
Bedrooms Four
Baths 2.5
Finsihed Square Footage 2400
Design Style Ranch

 

Bottom Line Lowest Total Cost Solution Best Total Cost Solution Highest Quality Cost Solution
Your New Home and lot will cost, depending on your  value orientation, approximately $257,624 $314,486 $403,153
Required Cash and downpayments $74,871 $91,832 $117,391
The Rmaining amount will result in a mortgage of $182,753 $222,653 $285,762
Based on a 30 year loan @ 5.5% APR, Taxes 1%, insuarance 1/2%, and monthly HOA Dues of $100 $1,552 $2,188 $2,912
In addition to the cash and downpayments, you should expect out of pocket expenses to come for non-constructio related items such as, window coverings, furninshings, entertainment equiptment and home accessories, moving expenses to come to $25,000 $69,900 $138,000

 

 Preliminary Budget Summary Detail

 

Lot Size and Costs

Lowest Total Cost Solution Best Total Cost Solution Highest Quality Cost Solution
Lot Size in ft2 8,500 10,500 12,500
Market Segment Base Lot Price $65,000 $65,00 $65,000
location/ Neighborhood Premium $0 $10,000 $20,000
Total Lot Cost $73,500 $82,500 $103,000
New Home Construction Costs      
Direct Construction Costs $141,600 $170,620 $220,274
Indirect Construction Costs $15,025 $20,565 $29,479
Builder Contractor Fee $36,000 $40,800 $50,400
Total Construction Costs $192,624 $231,985 $300,153
Financing Costs      
Lot Loan Costs $27,545 $30,875 $38,460
Construction Loan Costs $45,573 $55,001 $71,270
Mortgage Loan Costs $5,008 $5,957 $7,662
Total Quity Required $78,16 $91,832 $117,391
Interiors      
Window Coverings $2,400 $7,200 $12,000
Interior/ exterior Furnishings & Accessories $4,800 $30,000 $60,000
New Dishes, Linen and Accessories $1,200 $2,400 $7,200
Custom Paint (Kids Room) $0 $1,200 $2,400
Built-Ins $0 $4,800 $12,000
Entertainment Centers/ Equiptment $9,600 $14,400 $30,000
Moving Expenses $7,200 $9,600 $14,400
Total Interiors $25,200 $69,600 $138,000
Out of Pocket Expenses      
Lot Loan Quity/ Costs $27,545 $30,875 $38,460
Construction Loan Equity/ Costs $45,573 $55,001 $72,270
Mortgage Closing Costs $5,08 $5,957 $7,662
Legal Fees $0 $1,000 $1,500
Interiors Budget $25,200 $69,600 $138,000
Total Out of Pocket Expenses $103,326 $162,432 $256,891

 

The preliminary budget provides an overview of costs. IF you would like to see the detailed analysis that displays preliminary budget for each item, please create an accout. Why

  • By creating an account your detailed anlysis becomes a file that you may return to and update as you collect bids and also make notes about different ideas or bids you are working on. 

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