Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post

Fahrns · 05-03-2014, 03:18 PM

Hi folks,
my current home is a 1950's bungalow on a 50x120ft R2 lot in the NW near the LRT. I'm interested in knocking it down and building a new semi-detached duplex (sell one side and live in the other). I really like the location and foresee myself in the neighborhood for a long time.

I don't even know where to start. My preference would be to work with a builder or be the prime contractor myself so that I can have some design influence. How does one go about finding the financing to build? Go to the bank? Work with a builder?

Here are some basic numbers:
Current home value (~$550K)
Equity in my home (~$200K)
Liquid assets (~$100K)

Estimated building costs ($800-$1MM) -depending on trim level
Selling price of one unit ($750-850K) - have seen units go for $700-950K in the neighborhood.

What are my options? I'm not interested in buying a completed home.

05-03-2014, 03:18 PM	#1
Fahrns Draft Pick Join Date: Jan 2013 Location: YYC	How to build a duplex? Hi folks, my current home is a 1950's bungalow on a 50x120ft R2 lot in the NW near the LRT. I'm interested in knocking it down and building a new semi-detached duplex (sell one side and live in the other). I really like the location and foresee myself in the neighborhood for a long time. I don't even know where to start. My preference would be to work with a builder or be the prime contractor myself so that I can have some design influence. How does one go about finding the financing to build? Go to the bank? Work with a builder? Here are some basic numbers: Current home value (~$550K) Equity in my home (~$200K) Liquid assets (~$100K) Estimated building costs ($800-$1MM) -depending on trim level Selling price of one unit ($750-850K) - have seen units go for $700-950K in the neighborhood. What are my options? I'm not interested in buying a completed home. Last edited by Fahrns; 05-04-2014 at 02:40 PM. Reason: Changed duplex to semi-detached.