Cost of home options

M

medic

New member
So the wife and I are in the hunt for a new home. We've found a few we like, but would like to know the cost of some of the options so can better compare. The problem is the builders don't want to share the options pricing until we actually sign a contract to buy the home.



Since quite a few people here have purchased homes recently, does anyone have a price list for the new home design options? I know they prices will vary, but at least we'll have some number to use as a baseline. Right now we're just guessing and for the few items we have found prices for, we're way off.



Thanks.
 
I assume by options you mean add ons and upgrades to be done by the builder prior to completion of the house? Seems a little odd that they don't want to give you the price without a contract. I'd never buy something (or agree to buy something) without knowing the total cost.



It seems to me that can only lead to bad experiences. Around me there are plenty of new homes going up and I know people that have gotten some great deals, minus hassle with builders.
 
that's exactly it - these are the options like upgraded carpt to extra outlets to converting rooms in dens, etc.



We really don't like the idea of buying something without having an idea of the total cost and that's what's held us up from making any decision so far. I don't want to buy my dream home only to learn that the options I want to add will break the bank and I have to settle for less.



Since people are buying homes as fast as they're open, it's hard to ask for more information when they can just sell the home to the next person who walks in the door.
 
Possibly even worse than a high price could be that the builder doesn't want to "waste" his time doing custom work for you when that time could be spent putting up another house. This could be the case in a tight market.



It just doesn't seem right to me for a builder to hide future costs. If that's the case how responsive will the builder be in the future when issues arise?
 
If I'm understanding correctly, it sounds like the contractors you're talking too, don't want to quote prices on a house that they cannot see. If you don't have a house or a room for them to at the very least eyeball, they can't give you a quote. For example, if you call a contractor and say, what would it cost to redo a kitchen floor that is 10x20. There are too many variables that can affect the cost without a contractor seeing it. Such as, do they have to remove an existing floor? How many layers of floor ? What's the condition of the subfloor ? Is the subfloor level ? Who's providing the tile ? What kind of tile is it ? etc.



I just had a double dormer put on a cape. Initially, they gave me a ballpark figure after walking through the house and we later refined it as we went through a contract. I got a few ballpark figures from a few contractors.

Also, changing a carpet, adding outlets and other smaller details are of less interest to a contractor who is bidding on jobs that will be over 100K or whatever the case is.



Also keep in mind, depending on the town laws, you'll need permits on different types of jobs, they need to be inspected and so on. Not to mention, contractors should be licensed in most cases.



Good Luck...it's not an easy journey
 
this isn't a contractor, this is the home builder (e.g KB Home). These are the people that I buy the home from and have a design center where I get to pick the options. They know exactly what it will cost and what the rooms look like. When I finally sign on the dotted line, they will provide me with a booklet that shows me all the options and the costs. I'm trying to see if anyone has that booklet. Like I said, it won't be exactly the same from home to home, but it will give me an idea that upgrading from the basic to level 3 carpet may cost 30% more. I don't want to buy something that I can't customize the way I'd like because my estimate of costs is off.



btw, the home builders love customizing since their profit margins there are really high.
 
Hmmm...I don't understand this. If you're willing to buy a home with these "customizable" options, then there should be no reason that they are keeping the costs away from you. It sounds similar to buying a new car. When you make a few different configurations, the sales rep should be able to give you a few quotes.:nixweiss
 
yeah, but I've checked with about a dozen different home builders in the area and it's pretty standard. time to talk to realtors to see what information they can give me
 
Are these ugrades going to be included as part of the mortage or do you have to come up with cash outside of the mortgage to pay for them?



My brother recently purchased a new home. He went for the basic model. The builder gave them a book with all the sub contractors and contact information if they ever want to do any upgrades in the future.
 
Personally, I'd run from anyone who tried to do business like that with me! Seriously, a large purchase & they won't tell you how much the options are? Since we're on a car site, let's look at it this way. Say you went into a dealer & the car you wanted only comes with a tape player and you want a CD player. They say 'yes, we have a CD player, and we'll tell you how much it is after you buy the car.' Then they come back with 'it's $1000' after you buy the car. Ripoff.



As a salesperson myslef, these kind of sales tactics are what give us a bad name. A *real* salesperson helps the cleint get what they want, not the other way around.



Obviously, they get you in there on a bait & switch sales model-the 'basics' for $xx, and then what you want / need for $xx more.

It frankly surprises me that they can do that by law. I'm sure they screw a lot of people by doing that-they get the 'emotional' part of bying a home going, show you a low price, and then after you sign on the dotted line, they come back and nail you-there's no other reason for them to hold back option pricing (but I bet they have a book of 'reasons' why they do!).
 
Run away fast and donâ€â„¢t look back.



Any builder that is unwilling to quote you a price prior to signing a purchase agreement is going to be difficult to work with, at best, and more than likely a total pain in the a$$ or a crook. A reputable builder will be more than willing to price quote the exact house you want to build and tell you the pricing for different options up front before signing any contract (unless the contract is just a confidentiality agreement). The only exception to this rule should be if you bring in plans that the builder has no familiarity with. In this case it is common to be charged a fee for them to determine the cost of construction, but once again they should determine this before signing and construction agreement.



While large builders sometimes offer incentives on the price of âہ“upgradesâ€Â� such as flooring, cabinets, countertops, etc., these prices usually come with limitations on what is available. Smaller custom builders may seem expensive initially but upon further investigation sometimes are less expensive, because they allow you to price shop for things such a plumbing fixtures, lighting and flooring instead of picking from predetermined choices. This gives you the ability to walk into a plumbing or lighting specialty shop (which has great selection vs. the builders predetermined styles) and negotiate with them. Indicate you will purchase all the fixtures from them but they have to price match competitors on like kind fixtures (including published internet pricing). Additionally, items such as higher end hardwood flooring can be purchased via the internet for a fraction of the cost of brick and mortar stores.



Ask around your market for suggestions for other builders that are more willing to work with you. Building a house should be fun and exciting not a chore where you think you are being screwed. Cost over runs are common in building a house, therefore you have to be comfortable that your builder is working for you and that you have a open line of communication with each other.
 
I too, am in the process of buying/building a new home. It surprises me that your prospective builder doesn't have a price sheet listing all the available upgrades, room by room.



Maybe try this: find out where the Design Center is, and go in and browse around. My builder's Design Center is open for browsing certain hours and certain days. When you are browsing you don't need an appointment, you just go in.

They have clipboards with the price lists of upgrades, and you can look at the samples (flooring, brick, cabinets, lighting, etc.). You can probably pick up a price sheet there. They probably have them in the entrance to the Design Center.



The builder should have a sheet showing what is standard on the model you are interested in, so you can see what you might want to add. It's probably the largest investment you will make, so you should be picky, and the builder should share this information with you. I wouldn't work with a builder who won't give you that up front.



Try this website for some good foundational information:

http://www.katherinesalant.com
 
medic said:
yeah, but I've checked with about a dozen different home builders in the area and it's pretty standard...
Click to expand...
As outrageous as it sounds to most of us it sounds like it's the norm in your area. I had a friend who bought into a tract in Az. and at least one of the "standard builder practices" he found would be considered outright fraud around here.



Anyway, It's a darn good bet that the reason they don't want to tell you is that they charge ridiculous prices.



Talk to local contractors, find out what they'd charge to do the things you want "after the fact" and use that for your cost basis. If the builder's costs end up being as ridiculous as expected just pay the contractors to do it. It sounds stupid to deconstruct a new house to install stuff that "should have been there already" but that's what the builders are forcing.



When we bought our place the builder's "design center" couldn't even get the carpet we wanted. We had them put in the cheapest stuff and re-carpeted before moving in. It cost us about half of what the builder wanted for an upgrade and we got better carpet. We did pay out of pocket for it but with the barrage of loan offers we were getting we could easily have gotten financing for upgrades if we had wanted to.





PC.
 
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