Our $300,000 Duplex Build - Full Construction Cost Breakdown
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- čas přidán 31. 05. 2024
- We built a duplex and live for FREE by house hacking! In this video, we break down EVERY cost involved, share budgeting tips, and even show you how we tracked expenses throughout the build. Want to know if building a duplex is right for you? Watch this video and see how we did it!
BUILDING Resources:
⚒️ Build Budget Generator → bit.ly/BuildBudgetMaker
⚒️ Building Expense Tracker →bit.ly/BuildExpenseTracker
Ready to get started on your own BUILD? Don't miss my video breaking down everything you need to know about Construction Loans! → • Construction Loan Requ...
FREE Resources:
✅Get connected with an AGENT in your city → homeandmoney.com/nicole/
✅Check Your Home Value → narkhomes.com/home-value/
✅Subscribe to the Pennies & Property Newsletter → penniesandproperty.ck.page/pr...
Work with Nicole:
📩 Contact Nicole → narkhomes.com/contact/
Other stuff that's cool:
💡 Support My Small Business → www.amazon.com/kvnbrands
🛒 Shop My Camera Gear → bit.ly/NicoleGear
(As an Amazon Associate I earn from qualifying purchases)
Social Media Links:
📱 Instagram → / nicolenark
📱 TikTok → / nicole_nark
📱 Facebook → / nicolenarkrealtor
Chapters:
00:00 - Intro
00:26 - Creating the budget
03:49 - Pre-construction costs
05:16 - Foundation
06:50 - Framing
08:50 - Rough-ins
09:45 - Getting in the dry
12:37 - Insulation & drywall
13:46 - Interior finishes
15:28 - Completing the duplex build
16:59 - How we did
18:04 - Budget maker & expense tracker
19:22 - Outro
- DISCLAIMER -
Nicole Nark is a licensed Realtor and the Principal Broker (PB00083374) of HomeWay Realty. HomeWay Realty is not a lender, does not issue loan qualifications, and does not extend credit of any kind. The topics discussed, and ideas presented are Nicole Nark's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence. This video description contains affiliate links which means Nicole may earn a commission if you click on a link and make a purchase.
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You are a generous couple for sharing your experience and the tool. Perhaps you can also offer a similar tool for managing expenses for the property
Thanks for watching! We definitely may create a tool for ongoing property management expenses in the future ☺️
One thing I don’t think you mentioned is even though you spent a little more on your roof, you’re going to save more in the long run. If installed correctly, that roof will last you at LEAST 50 years, maybe more before needing replaced. If you just went with shingles you would’ve replaced the roof probably 2 times in that same timeframe.
Thanks for Sharing! Great info to know!
Happy to hear you found it helpful, Natalie! 🥰
Love it! That is such a great tool to utilize, thank you for sharing!
Glad you think so, Jessie! Thanks for watching! ☺️
Thank you for sharing and with detail without filibustering. This is simply amazing.🎉🎉
You are so welcome! 🎉🏠
Thanks for sharing! Great content!
You bet! Thanks for watching ☺️
Thanks so much guys. This is something I was thinking about doing for my family. SO USEFUL!!
Glad it was helpful! ☺️
Thank you for sharing...you all are smart!
Thanks for watching! 😊
Thank you so much for the software!! I am planning for a new construction and this will benefit me immensely!!
You're very welcome! We have found them extremely beneficial since making them. Glad we have the opportunity to share and help others! 🛠️🏠
Great video. It was exactly what I needed. Thanks for sharing
You are so welcome! Glad it was helpful ☺️
Wow. What a great video. I have built some units myself, looks like a great video I should do as well. Thanks for the inspiration. I am based out of California.
Thanks for watching! I’d love to see what you’ve done ☺️
I truly believe the tool y’all created is going to be very helpful! 🙌🏾🤩
Thank you, we hope so! They’ve sure helped us out on our journey! ☺️
keep it up great plan. pure inspiration
Thank you so much! ☺️
Good job guys ❤
Thank you!!!
Great video. I am definitely interested in the Budget & Spending Tracker
Happy you think so! The links are in the description ☺️
thanks for this
You're welcome!
This video is fire 🔥🔥🔥
Thank you! 🙌
Thank you
You’re welcome! ☺️
Great job
Thank you!
love this video! great information, I want access to this software!😱
Thank you so much! The links are in the video description so make sure to check them out☺️
5:36 - Can you do a video on how to find different contractors to do the different types of jobs needed.
Great idea! I think an interview style video where I do a Q&A with Kachi could provide some valueable insights on this topic! Any main questions you'd like addressed?
@@NicoleNark assume you’re teaching someone who has never built a house before and is beginning from scratch:
1. How do you find the right contractor/architect to begin with? Where do you go besides Google? Any specific websites/resources to use?
2. How do you ensure they’re not overcharging you?
3. What is your process for obtaining permits and complying with local building codes?
4. What happens if unexpected issues or changes occur during the project?
5. What should you look out for or avoid?
@@76ers Very good question! I will be looking out for the next video explaining all these. I am also unfamiliar with entire process and would like to know.
Wow got to say this was the fastest I have ever subscribed to a channel 2:43 subscribe. You guys are awesome!!! tremendously informative.
Wow, thanks! Happy you found the video valuable ☺️
Love the vid! Would the formulas in the Build Budget Generator or expense tracker be accurate with a Barndominium build?
I think they would be pretty similar! Obviously there could be some differences based on how you plan out your barndo. For example, the costs of a barndo built from a metal building would have a different breakdown than one where you use wood framing and metal siding! The overall build costs provided by the budget generator should be accurate, but differences on the specific line items may occur based on your route to build! Hope that helps☺️
Is there any apps out there that you would recommend for 3d floor plans?
I’m building a duplex that is much simpler. Thank you. This has been very helpful
You're so welcome!
Can you name your lender ?
This is great information also thank God I’m in the HVAC field so I met with a lot of contractors electricians and plumbers so when I’m ready to build myself a home I think I’m in good hands
You will be leaps and bounds ahead of those who aren’t in the industry!
Great video yall I have a lot and want to build exactly what you've done here. Houston Texas. Need a good builder reference.
Do this calculator work for rehab budgets?
Great video again👏! Would you please share the excel cost estimator?
Thank you! It is linked in the description 😊
Mind sharing the floor plan? Thanks!
I love this stuff.. keep up the great work. Sub'd and Liked.. I just happen to be considering something similar and was considering buying someone's fourplex .. but building one looks like it could be done too. thank you
Happy to hear that you found the video helpful! What state are you in?
@@NicoleNark I'm in Maryland .. Seems like building would be less expensive than purchasing something established..
Very beautiful ❤
Thank you so much! ☺️
Where can I get that cost breakdown tool? That is very helpful and simple to maintain a person budget
Hey Anthony, It’s available in the video description!
Would you consider a no cost option for veterans who are wanting to do the same.
Hey. Might have mentioned already, but what’s the square footage?
2600sqft total
Wow!
🎉😊
How much was your GC fee? and is it accounted for on the tracker? i.e if I purchase the tracker, how do I account for GC fee
Kachi has a builder’s license so we did not have a GC fee for this project. You can expect to pay 10-15% for a GC in most markets. The expense tracker has empty line items where you can add the GC fee so it can be accounted for! Hope that helps! ☺️
Hey Nicole. I need that link to the construction budget spreadsheet pretty please 😇
Links are in the video description!
Oooh sweet ! So lovely! YES please God bless me too 🙏🏽
Thanks for watching, Chasity! ☺️
How and where did you find those entrance doors for the price you did!!!??? They look amazing but can’t understand why so cheap..
Is there any way to add PayPal as a form of payment on website for cost builder.
I would purchase if I could use PayPal, but don’t want to share my card to just a random website
Hi Blake, i understand your concern. Unfortunately I cannot add a new form of payment. The payment processing provider is Stripe, a trusted, secure and popular payment processor. The cost builder is hosted on ConvertKit, also a popular and trusted website used by a lot of creators and businesses.
That budget tracker is nice tool; as the Bank's payout in tranches, so you will know what needs to be paid out when working with the Bank construction finance person. Goodness, you were lucky to only pay $660 for Engineering/survey, that's usually the most expensive, next to the internal finishings and cement/sewer. One suggestion: would have put the entry doors on opposite sides instead of right next to each other. But nice project; great finish.
Yes, we found the budget tracker helpful with planning around the contruction loan draws! Also, 100% with you on separating the entry doors. That was my goal early on, but with some utility easements on the property I was very limited on where the driveways/garages would be feesible and had to work around that!
I was trying to have my house built in Las Vegas, NV. Just the Electrical Permit was $16,500.00
wow! Did you complete the build?
I'm soooo thankful to be a tradesman myself because my cost will be lower. Unfortunately concrete is not my expertise but I do have friends lol.
It's all about having the right connections! 😊
Curious, where can I purchase the build plans?
These are plan we had custom made. We might share them in the future!
How are you coming across the land to build these houses.
Its either listed for sale or we reach out to the owners!
Gorgeous! Did you decorate with money from the bank or did you have money saved for that?
Decorating was separate from the construction loan! Good question ☺️
How did you get your arch, eng and survey costs to be so low?
A few ways. First - the duplex is in an opportunity zone. Because of this, some of our costs with the city were waived or reduced. Second - our city does not require engineered site plans, architectural review, etc. We created the plans ourselves by working with a draftsman. Hope that helps!
Can i get a copy of that spreadsheet?
It is available in the description of the video!
Building permits at only $1226! Wow. I just built mine in Fontana CA and my plan che fee was 1700 . My building permit was 37k plus school tax was 10k water meter along was 17k😢
Wow those fees are steep! What was the dollar value of the project?
Where state do you guys live in
They mentioned central Arkansas
Was it worth not hiring a contractor for? How much time was spent to build the home and how much work?
There are pros and cons! Through our previous renovations and builds, Kachi has upgraded his contractor's license to a builder's license so we are able to have the benefit of "working" with a builder without paying a builder. One of the biggest headaches when it comes to building is project scheduling and relationships with vendors/subcontractors. If you have ample time available to learn about building, meet with subs and vendors to form those relationships - owner building might be a good option. If not, it's best to work with a builder! We had weather delays and other projects going on, but even with Kachi devoting his full time to the builds it still took us around 6-7 months to complete. Hope that helps!
@@NicoleNark Wow thank you very much for the advice, I work a full time job so I doubt I’d have the time by myself to take on such an endeavor so might have to team up with a family member to make it happen, thanks again!
Just like decided to put black frame windows
I like the content, but I just want to get some clarity about the architecture/engineering section. Are you guys saying you spent $600 on signed and sealed architectural and engineering drawings?
Completely understandable wanting some clarification! First of all, yes - we did only spend $600 in this section. The duplex is in an opportunity zone and because of this, some of our costs with the city were waived or reduced. Second - our city does not require engineered site plans, architectural review, etc. We created the plans ourselves by working with a draftsman. Hope that helps!
@@NicoleNark Thanks for that information, it was helpful. I would have mentioned that because its unique to your specific situation because it doesnt make sense to others why there was such a huge discount on those costs! good luck guys!
How long did the whole project take?
Taking into account a few weather delays around 7 months
@@NicoleNark thanks for the reply
what state are you in?
Arkansas
Hey you two gotta show do a proper home tour for this one and the other home. The short clips aren’t enough
I'm open to it, but what would you want to see? I guess I feel like it would be awkward or boring 😅
What will the taxes look like next year?
Around $490/mo when the structure hits the assessment!
Do you have to be a licensed general contractor to do this?
Yes 😂😂
Not necessarily, it really depends on your city and their “owner builder” regulations. Many cities across the US will let you build a house without having a license if you plan to live in it as your primary residence. Definitely talk with your city and find out if you can owner build a duplex if you are interested!
If I'm adding this correctly, the total square footage for both units is 2,600 sq ft. And in your other video titled "we built a duplex... now live for free" you mentioned you got a loan for $287k and used $61k of your own cash (total $348k). So you were able to build at $134 per sq foot? That seems incredibly cheap (I know you said Arkansas, but still).
Yes, $135/sqft is what we have been able to stay at. If we were in a more expensive market or had to pay a builder obviously that would increase!
Its different depending on the market ur in
Great Job! How were you guys able to be $4.8K under budget on the architecture (soft costs) and $0 for "Design & plan" review? I guess did you draw the plans yourself?
Good question! Yes, we drew the plans ourselves. Our city also does not require plans to be reviewed/approved by and architect
Thanks for clarifying Nicole. We live in Houston and we are trying to build a duplex next year. Currently looking for a lot. Could you please recommend a site where we can find 8-bedroom duplex plans (4 bedrooms each side)? Your journey is giving us the boost we needed 🙂
Hi! I’ve found some great floor plans on ArchitecturalDesigns.
You guys got down to $127sqft on this build plus land purchase 💪🏾
Now we want to see if we can replicate it and do it again! 😅
@@NicoleNark yall got this 💪🏾🙏🏾
What city or area code lol , not in Cali baby
Little Rock, AR. Our build costs are lower in Arkansas than costs in the big California metros but the land value is the biggest differentiator on overall project financials between the two!
I like the way she said (we decided) and her man just smiled 😅
Haha I mean at least we were still in budget! 😅
You guys did great job with duplex!!! Thank you for sharing your experience
good break down of the building costs but I didn't get any helpful information on how you're living for free. What area did you build? what year did you build? How much are you charging for rent to pay a 200-2500$ a month mortgage on a 300k construction loan. Nice video though.
We go over all of that in the first video we made! You can check it out here: We Built a Duplex...Now Live For FREE?
czcams.com/video/ECyUyX36DM4/video.html ☺️
if the property is valued at around $620k in theory couldn’t you try selling it for that price, pay off loans and use extra money to build another duplex completely using the extra profits from the sale?
Absolutey! There are 2 reasons why we personally decided not to do that. First, we believe in the long term appreciation of the area and do not want to give up the good equity position we have. Second, if we decided that we wanted to tap into the equity in the future, we can with a cash out refi!
@@NicoleNark oh ok that’s definitely still a great choice.
My God man you can't even get a parking spake in LA for 300K
Because of your insane zoning.
You built it for 300k what is it worth if you resold it today?
Market value is around $620k
Wow thats amazing , thanks for sharing all and all the great info !
How are you financing the projects or is it cash?
@@alexiscruel4009 we are using construction loans!
@@NicoleNarkare you selling it as a duplex for $620k or are you selling each side separately for $310k?
@@truettadevil we aren’t selling it. We are keeping it ☺️
My average is $300 a sq ft 😭 this would cost me atleast $780,000 here
Where are you?
Can anyone build one ?
If you want to build one for yourself where you will live in half, most cities will allow you to be an “owner builder” and not require you to hire a licensed builder if you do not wish. Other than that, you will need to check with your city regarding zoning regulations and whether duplexes are allowed or if you would need to go through re-zoning. Hope that helps! ☺️
I meant in Arkansas like you did lol
@@Evvs1_ lol my bad! You can do one as an owner builder! You’ll still have to check on the zoning though ☺️
the house is ok for a starter home I guess... maybe next time you can have a better build
lol okay 👍🏻
lol. $135/sqft total cost? Try building in Southern California. $350/sqft+ for the exact same house
But how much could you sell it for? 🤔
@@NicoleNark $500-$650/sqft. Margins are still good but it’s so interesting how stark the difference in pricing are between high cost and low cost states. The architectural, structural and civil plans on my 4,300sqft home was $70,000
@@richardcowiejr8040 very interesting! New construction in my market sells at $180/sqft with a FEW neighborhoods pushing above $200/sqft. It’s my dream to move out to San Diego, I’ve loved every visit
WTF am I doing wrong
You might be in a higher cost market! 😬
$150 for a Excel spreadsheet w/ basic formulas 🙄
Unfortunately, not everyone will be able to understand it’s value until they have built, or are actively preparing to build.
You can go to college and pay 100k for something you can look up on google for free .. I wouldn’t call these basic formulas do you know how much concrete cost and do they sell by the foot or by the yard? Your paying for convenience. Not having to spend hours doing the research to create a template to plug in these basic formulas get off CZcams and get in the field
Make your own 🤷🏾♀️
As if subdivisions weren’t bad enough. Now you can literally hear your neighbor breathing among other things. Have fun with that
Okay. Let’s get rid of multi family housing altogether😂
Thankfully we don't hear the neighbors! Knowing that we were building a duplex, we took extra measures during construction when it came to sound dampening. The units have separate walls, thicker drywall and are packed with dense insulation just to name a few things. Sound is a big concern with any duplex or miti-family so we proactively planned for it on the front end!
Y’all look alike
It has been scientifically proven that we’re attracted to people who look like us… maybe that’s it! 😅
that is very cheap per square feet
Yes, but pretty on-par for our market!