Cost of Building Our Home 2023 | Current & Projected House Budget Ep. 12
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- čas přidán 15. 06. 2024
- We are $100K over our house budget. In this building a house episode we dive into the costs we've occurred so far, our predicted future costs and the costs that will put us $100K over our budget. We dive deep into all this finances of this 2,800 SF Ranch Home Design. In the end we learned that everything costs more than you think.
#BuildingAHouse #HomeConstruction #housecost
Floor Plans & How to Design Your House On A Budget Ebook
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We're Faris and Lisa
We've traveled to 40 countries, experienced van life for 1.5 years, and now we are building our own house from start to finish. Subscribe to follow along on our journey! - Jak na to + styl
Dont skimp on paint. Paint will be much more than $1k, driveway will be more than $15k, flooring probably more than $10k, appliances definitely over $5k without a doubt. Just be prepared for those. $5k contingency budget probably not quite enough... depends on your choices obviously.
This is easily a $900k house in my area. I think you're doing great! You're learning some valuable (expensive) leasons but thats going to be a beautiful home. Love that you're sharing with the rest of us!
Thank you! Haha yes definitely some expensive lessons but happy to learn them!! Hopefully not too many yet to come 😁
Allow me for a moment to be the old man in the room haha, you kids are doing great. Not just in how upfront you're being about the status of things. But also the fact that you are making changes with your eyes open. Nothing worse than someone adding some fancy bell or whistle that has zero positive impact on the home's value. Everything you detailed as being added with an eye to resale value is spot on. Not sure how you both got so wise beyond your years but it's going to work out great for you going forward, I have no doubt about that. Looking forward to your next video.
BKK we thank you for being the old man in the room and we thank you for your generous comment. It put a smile on both of our faces 😊 It’s always a little nerve wrecking sharing every detail but we try and be as transparent as possible. We hope to learn something every day as we move forward, even if that means making a few mistakes! Appreciate all your support!
@@FarisandLisa I've also told both my sons to make a life goal to learn at least one new thing everyday, doesn't have to always be something major. But if you go into things with an open mind you'll always come out ahead of those with closed minds. Keep at it, you're doing great. 💪
@FarisandLisa what was the total number? A-Z....thank you.
Love the combination of the exterior materials and colors. Looks great! ❤
I BEEN WAITING FOR SO LONG IM HAPPY TO SEE IT AGAIN!
Hahah I’m sorry we made you wait so long! We hope you enjoyed 😆
Wow! Thanks for explaining the costs. It’s a blessing that you guys are able to do some of the work such as installing the stone, tongue & groove, floors.
It’s a beautiful property (land) including the house. It actually looks larger than 2800 sq feet.
The cathedral ceiling was worth every penny. You guys made some great design choices.
Amazing, Great Job !
Thank you!
Was skeptical when you announced this series but loving how you are documenting the process….I am in the early stages of doing a custom home build….you guys are great…keep it up!
Hi Viktor, great to see you around again. Especially since you are among the few that have been following us from damn near the beginning. We would love to see what you have planned for your build.
Thank you so much sharing your journey and thats an awesome breakdown and i really can imagine your hardwark putting all the things in row is not easy good luck to you guys.
So glad you enjoyed the breakdown! It hasn't been easy, but its been great learning new skills :)
Thank you for sharing!!
Great videos, love the editing and explanation 👌
Glad you like them!
We are building our house our selves and it’s crazy how much things cost or how changes affect everything. Labor is expensive but sometimes just worth it. Thanks for sharing your journey and costs. That an be a scary and almost embarrassing thing to talk about. We are scared to share our journey but hope it encourages or at least entertain some folks. 😂
This a nice Home, i would lov the blueprint ❤ wow nice choices👌🏾
Thank God you have a man to take on that problem.
🤦🏼♀️
mashallah amazing, love it! :)
Really enjoying your videos and can totally relate. We're currently building a custom home. Actually we're practically neighbours - we're building across Detroit River on Lake St. Clair. We have a builder and I'm not gonna lie, the budget has grown exponentially since we embarked on this journey. LOTS of hidden costs and manyprice increases along the way. We've had to pivot many times during the selection and design process in an attempt to keep costs down. Your house and property are stunning, and I look forward to watching future videos.
Thank you, appreciate that so much! Would love to hear more about your build! What design decisions did you change to save on some cash? Yea the building process has so many hidden costs 😭 we were told to just budget for hidden costs we just didn’t realize how many 🥹
Nice choice on the brick.
Wow! What a great video! Really appreciated how you broke everything down in such detail. I was delighted to discover that alot of your budget was comparable to our own. That said, we got quotes on our lumber package 6 months ago and got an updated quote last month at 32% less. Lumber prices in the PNW have dropped significantly. We also are doing rafters with our roof line as opposed to engineered trusses which has been more budget friendly. To add to those comments made about getting multiple quotes, I agree completely. It's amazing how extreme the quotes can be from one another but it allows you to compare what is and is not included in a contract rather than assuming. Getting multiple quotes has saved us thousands of dollars. Watching your videos throughout your build has been incredibly helpful especially for someone who has never done this before. It's an invaluable source of education. Thank you so much for taking the time to share with us all. Keep up the great work and looking forward to your next update :-)
Racheal, thank you for the kind comment, it means so much! Really happy these videos are providing value to others and it’s interesting to hear about your home building experience as well! Keep us posted on your costs we’d love to hear if yours continues to be around the same as ours! Rafters is an interesting idea we will have to keep that in mind for the future!!
We would’ve loved to see our lumber go down 32%! That’s amazing! We’re definitely going to be getting multiple quotes. It is interesting to see the itemization of the different quotes!
Good luck on your build, keep us posted! 😊
No AV or Low Voltage Network connections to the rooms for the TV's and Media stuff?
Don’t forget your interior doors and trim. $$
Love the brick..will save $$$ in the long run.
Your 🏡 so beautiful love from India
Thanks for sharing. Did you guys document the entire project in an excel sheet? If so do you mind sharing? I’d like to learn material ordering, sub contracting and scheduling etc. I haven’t watched the entire series but I’m assuming you wore the hat of the gc right?
Hey Raaf, yes we are the gc. Working on an ebook with all of the info you would need to build your own house!
It’s a beautiful house. The building cost of $165/sqft is very reasonable in Detroit suburbs. In NJ, it’s over $200/sqft
What is the pitch of your cathedral ceiling?
Well house value are going down so hopefully you guys are good
Hi! You forgot to mention How many SQFT is the home? & does the SQ Footage include Basement?
This info will help views understand the cost breakdown.
Hi! The house is 2,800 sf not including the basement
Love the videos, congratulations with the house. Almost done😅
😂 step by step we will get there! Just like our budget we could be way off with timing as well
We are doing a custom home build currently in Texas. 2850 sq ft and our costs including the land is estimated around $750-800k. So I think you guys are doing ok. Good work.
As a European I envy you for how big homes you can build and the locations you can build them in. In central Europe a building zoned plot like this in the green is practically unobtainable. And if, the plot alone would be in the millions of $. The structural value of American houses may be questionable, but you sure get to live in a dream mansion for not all that much money.
How About your septic system?
33K for all cabinets and quartz counter top...this is impossible.
Great video. I'm currently building in PNW and building cost are at least 30% higher here.
Yep, on Vancouver Island this build would easily be double. Of course they're in rural-ish Michigan, so you can't really compare.
I'm getting ready to build a home for my mother-in-law (it's true, you don't just marry the girl, you marry the family...UGH!). Anyway, I know the cost of materials and labor to within about $10k and can allow about another $15k for excavation discoveries. The 1800 square foot ranch with full basement, 2 car garage and board and batten siding should cost about $370, (including lot, well, septic and initial estimate for clearing/excavation/footing). I've had a couple of builders tell me they won't do it for less than $550k. I won't be giving MY equity away. Especially not in this market.
As one who has spent 2 years budgeting, designing, spec'ing, and getting quotes.. I can attest the greatest cost is still in the basic house design chosen.. Our first design would've been a whopping $325 sf. the current one dropped that down to $238.. for almost identical ~ 2100+ sf. You 2 are doing much of the work yourselves.. so I bet that you carved out your lower cost by doing that. (Hopefully, that doesn't create issues with the builder's warranty?.. ) We also are building into a more established neighborhood.. so a too-high valuation would not be advantageous (average home age is ~30+ years old. Good luck finishing up; hope it goes the rest of the way as planned for you!
New subscriber here, awesome job. I'm also building in Michigan! WOOOHOOoooooo😊😊😊😂😂😅😅😢😢😢
Hahah love the emojis. We feel the same way!
great work and home design! are the major kitchen appliances included in the $33k kitchen budget and small appliances in the $5k budget?
Hi S Kane, Thank You! We have a slightly used dishwasher already and a washer and dryer as well. So the 5k is for the refrigerator and stove/oven. It doesn't include a microwave or similar small appliances.
@@FarisandLisa awesome! did you two design your own house plans or purchased and made modifications?
We designed the home with Lisa's Dad Jerry (builder of 35 years) then took the plans to an architect for revision and approval. We are working on creating an E-book with our plans and a detailed description of each process step.
@@FarisandLisa thank you! much success completing the project!
How much was the concrete slabs for your patio? Thinking of doing something similar.
They were $5.5k, we definitely recommend!
Single stories are always way way way more in materials. But that’s a beautiful house. Congrats.
US$ 165/sqft is CAD$224 - builders in our area on Vancouver Island are quoting CAD$400/sqft for a basic house WITHOUT land! Labor has gotten very expensive. Really no choice but to build yourself. Very interesting to see your costs and overages.
Super hard to predict with the rise of labor costs. If we were building in Washington or on the West Coast I think our numbers would be a lot closer to what you are experiencing in Vancouver.
bruh, this video was randomly recommended all the way in saudi when i dont even watch these kinds of videos so the video is probably doing really well with the algorithm, congratulation lol
my bruh
Wow that is wild!! We’ve heard some amazing things about Saudi and hope to travel there one day!! Thanks for reaching out 😁
@@FarisandLisa they currently made it very easy to travel, i think they even have influncer programs which would not only fund you but also show you the places at a deeper level, but i do not know how you can contact them, i'm not even saudi myself lol, i just currently live there.
Beautiful home. Had to do a double take when you mentioned HOA. My sympathies. I wouldn't so much as build a doghouse somewhere that had an HOA.
What do you guys do for a living to be able to afford something like this ?
Hi Henry, great question. We worked corporate jobs while doing videography photo work on the side for five years and found success in those positions. We managed to save a good amount during that time and Faris sold his home in a good market. Faris turned videography into a full-time job last year and has a media company in the Metro-Detroit area. Lisa works full time in residential construction as an apprentice and as an interior designer in the Metro-Detroit area. We also make a little bit of rainy day money from your support on this CZcams channel.
With all that being said we are still taking a loan out on this project. This is not only our home, but we hope to be an investment for our future. :)
Use paddle switches…and LED lights for sure.
How is your plumbing and electrical so cheap?? I’m in the northeast and gut renovating a 3K sq ft home and plumbing and electrical for each is over $30K!
Hi Sau, my guess is the labor cost for redoing an existing home comes with more headache and time. With a new build the electricians/plumbers are able to design their routes and have easy access to everything. Also, I believe the Northeast is just simply more expensive than the midwest.
Wow the trusses are crazy expensive!!
Why not stick build the garage?
The cost of that framing package/labor is crazy!
Yeah... kinda messed up because I've seen some high end 3000 sqft shells go for 120k, so I don't know why that's so much.
Please tell me you guys didn’t install the brick right on top of the house wrap without an air gap? 😅
There’s a gap and flashing 😁
What y'all do for a living?
How did you pay only $8k for hvac? The material alone costs more than that for this size house. I’m building 4500 sq ft ranch with full basement and 3 car garage like you. My hvac bid is $33k
Your house is 1,700 sq ft bigger than ours. This is the current cost of rough hvac plus furnace. does not include air condition unit. We are also not heating and cooling the basement at the moment. We plan on putting heated floors in the basement to provide a heat source.
8k for hvac and fireplace? What does that get you?
Realistically it cost $250-350 to build new..beautiful house.
Why no rebar in the foundation walls?
There is horizontal rebar throughout the whole wall.
our custom is over $250/sq ft without land
We’re in Michigan. We went to look at a new build for $365k and it was basically a turd with little character.
Can I fly you and your crew to work on my house? My 2000 sq foot addition is likely to be double what you are paying for a whole house - and not just a whole house, but a beautiful whole house.
Glad your trying to do some work your self but there are some you can do to save more then doing the work. Sharpen your pencil and be more competitive on the bidding process.
100% agree with you on that JB. That is a huge component and something we will be more tuned into for our next build. For this one we went with sub contractors that we know from the area and that have worked with Jerry (Lisa’s dad) for years. We may not have got the lowest price ever on each step but we are confident in their work and they are good people. That is a big part too! Definitely some areas where we can be more diligent. :)
I'm curious as to why you chose to build during the most expensive time in modern history? Lumber alone, is down 20-30% at the moment as opposed to 18 months ago.
"Let me tell you this, the older you do get the more rules they're gonna try to get you to follow. You just gotta keep livin' man, L-I-V-I-N." - Matthew McConaughey
It's like trying to time the stock market. Good luck with that. They'll be fine.
You guys are doing a great job. But I think you need to be a bit more realistic on cost of materials. Way under budget on many items you’ve pointed out. Always better to budget high and come low
250-300,000 over budget. The labor has been nuts. Doing some finishing work myself. One company wanted 40K for handrails. Got them at cost for 13,7 and installed them myself. A nightmare.
Yeah, people are INSANE for what some of them are quoting on stuff like that. How do they justify $26.3K for labour? It's purely price gouging, which is contributing to inflation.
@@OMGWTFLOLSMH Absolutely… but the excuse for the increase in labor is the inflation that’s costing them personally and from the business perspective. Meanwhile the insurance companies answer to insuring the higher cost of construction is to charge the little guy who’s property value is dwindling more to adjust the market. It’s a joke. A buddy of mine who lives month by month just got hit with a rate hike for that exact reason. The market makes me more nervous by the day. Dang… did I mention the interest rates? 🤦♂️
@@OMGWTFLOLSMHcan't be mad bro take a look around everything is freaking being gouged since covid😂
That's why I am planning to build my house in 1-2 years from now. In the mean time, I am buying stuff I need, when it gets clearance or on sale. I literally just got 10,000 dollar appliances, high end too, on clearance for 2,500. I don't need it now, but I will do. That's 7.5k saved right there on appliances. I do the same for everything else too. Got a deal on flooring, got 1000 sq ft of it in the basement. Was also on clearance, for 80% less. Saved me many more thousands of dollars. Same with drywall, there was a nice sale and got 1,200 dollars worth of drywall for 500. Also got a heat pump water heater using rebates and all sorts of dollars off by driving out of my way when it was in clearance 200 miles away. Saved 800 dollars there. Paid a few hundred in gas, by 600 bucks for a few hours of my time is worth. All in all, by the time I am building my home, I will have nearly all the materials I need to do the inside, at 50-70% cost reduction rate. No cost for labor for drywall, or any internal work, other than electrical and plumbing rough in, so I'll save costs as I can do all the work myself over time.
Looking at 150k for the excavation, foundation and shell here, in the midwest, for 1700 sqft. Well not worried about, since I am in an area where you only need to drill 30-40 ft to hit water. That'll be cheap at around 3-4k to get that all setup. I have a total budget for turnkey and ready to move in at 220k, and i have no doubt I can do this. I mean it amazes me how companies charge for stuff. Drywall installers making 70% LABOR vs 30% cost. Uh, no. I'll spent a couple of thousands of dollars, install it myself, and be done with it. Insulation too. Got lots of that on clearance too.
House will be worth at least 400k when I am done, and keep appreciating. Half cost to build, worth double the amount on finish.
A few years ago I built a 1,000sqft cabin using the same methods. I got quotes and it was estimated total cost would be 150k. I actually built it myself, and it passed inspections and completely code compliant. Total cost? 55k. Amazing what you can achieve when you do most of the work and prepare and buy things that go on clearance.
The most expensive words in remodeling or construction. WHILE YOU ARE AT IT. Those words will empty your checking account.
Where did u build this house is it Ontario Canada ?
Hi, this is in Michigan. close
@@FarisandLisa congrats 👏 and thanks for ur reply
What area of Michigan? And builder?
Increased costs is a real, objective benchmark.
"We believe it will be worth more than what we spent" is just cope.
The fed is shrinking the balance sheet massively meaning less dollars in circulation competing for more goods now available (houses, cars, rvs, boats, etc). There is more crap now to buy than ever with fewer dollars and harder to get easy money (loans).
Ok
Almost everyone goes over budget. You got caught during an unusual inflationary economy, on top of that. For the size and scale of your house, I'm surprised you're only $100k over.
Yes forsure!! Definitely learned some hard lessons, but could’ve been a lot worse 😅
❤❤❤
The framer is supposed to put the windows in.
"Supposed to"? That's up to the builder/home owner. I'd rather have professional window installers do the work. In this case, the windows were delayed and the home owners had to do it themselves, long after the framers were gone.
Those square-foot estimates of $165/square foot are a complete joke even in metro D. That house will be $240-$275 square foot if you use a general contractor (not including land).
We are more in the $175-$200/per sqft range. We are the GC so no extra cost there. We will see once it is complete.
Why do you have an HOA if you bought land and are constructing yourself? :O
I have a land an a rural area and I have small HOA . You still can have a land and be on a subdivision
Also your weathershield windows only $31k? Bc of your video I got bid for this and was $48k. Again nearly identical house to yours.
Based on your last comment, your house is 1,700 sq ft bigger than ours. Go watch our window video. Our walkout basement does not include weather shield windows. We saved a lot using sliding doors that were on clearance. $17K doesn't sound like that big of a difference considering your house is much bigger than ours and we shopped around.
Yeah their prices don't add up I just built a home 3400 square foot Colonial 2 years ago in Michigan cost me 700k my lot was 130k.
Yeah that's 200k extra just for the cathedral look. Does look good though.
Power lines are huge health risk.
That basement is ridiculous!
It is very convenient to have money! But there is no proportion...a lot of money will not help!
I do anything…pay to have the insulation installed..
People say that about anything. Roofing comes to mind for me, but I hated doing floors. Hours on my hands and knees, and working with mortar for the tiled areas I wish I had subbed it out.
How come you give a tally of each item but you never gave us the total cost?
The ruuf ?
Meanwhile, me and my wife paid 940k for a tin pot 1200sqft townhouse in San Diego😅
Ouch. Refinancing that construction loan at 7% is going to sting.
You guys are so cute building your dream home!
But stop looking at the house you’ll be living in, as an investment. It won’t make a penny, until you sell it.
And given how you’ve overbuilt it, I don’t foresee you ever selling it.
I am sorry you chose an HOA location
How are they gonna split it after the divorce?
We were wondering the same thing
What was your budget?
5k is beyond cheap for appliances.
are you the gc?
Hi Matt, yes we are.
Lol, effen HOA, such a waste of money....so glad I live in a city with very few HOA neighborhoods.....
5k for appliances. 😂😅
Sorry your budget has gone over by so much!!
I thought you have $100k for the one who watched all the episodes 😂😂🙈🙈
Hahah I’m sorry I wish we did! 😆
@@FarisandLisa no problema we wish all humans maybe have a great life and fulfilling they dreams. Be blessed
Why do 2 people need such a big house?
Will start a family soon and have lots of time to entertain family and friends 😜
Why do you care? Having a large house is awesome. You should see all the junk I've collected in mine over the last 20 years.
11k for a well at 125 ft? Are you kidding me? That should be a 6k job for a complete system. Why is it 11k? That's way up there, on the "high-end" cost of things. I guess it depends on the area, but that's a little overkill. 250 ft would be closer to 11k, but 125? Makes no sense at all. I know it's a tiny cost compared to everything else in this build, but... that's just too much.
We got multiple quotes and they were all within a couple hundred of each other. It’s the going rate in our are unfortunately
$5k for appliances???? A good range is $4k lol. Omg I’ve seen enough.
We explained that we already have a dishwasher, washing machine and dryer. Our range will be around $3k and our fridge around $2K. We also take our time to shop around. Find units that may have small imperfections. We are not buying off the shelf at HomeDepot.
Anyone that custom builds in HOA. WHY? Lol that cost you at least 100k
There's a reason HOAs exist and part of it is so your neighbour doesn't build some ramshackle POS out of twigs and chewing gum, which devalues the surrounding homes.
what do you both do for a living? a $100,000 overage would destroy any normal person.....
CZcams! 😂
@@antonbriggs5680 lol, I guess so now....
Haha definitely not from CZcams. 😂 Even though we love your support we don't make much off of it yet. Chris, we are taking a loan out on this build. Yes, 100k is a big number, but we will not realize that difference all in one lump. It will be spread out over our loan terms. Also, like we said in the video, we believe it will be a good investment. We both work full-time outside of CZcams :)
@@FarisandLisa cant wait....as I am sure, you as well lol.......to see it all finished :)
Some of those predictions seem low to me… I’d definitely anticipate another $100k more like you said at the end of the video. Looks great tho!
You are spending too much money if you are painting..insulation…stone.
The worse part of all this is they are building it in chicago
Rip they also have HOA
😂 when did we say Chicago?
@@deesmith8576lol
U scared of Chicago bro
they said michigan
HOA = Ewwww
You guys being scammed