How Much for a House???

[Dynamic]

Well here's my story. I'm about to embark on my first home buying experience and well........I'd figure I'd tap into the well rounded knowlege you CP's have. I have been approved for a 155k mortgage and after a breif look around my area (Flatbush, Smith, Slave Lake) it was pretty well apparent 155k does not get you much.

My grandparents own a quarter section along the highway and last summer they agreed to have it logged and in turn there is a huge cleared area behind the trees. I'm in the process of subdiving as my grandparents approved of the idea and would be happy to provide me with the land to build my house. So thats one big plus as I already have land to build it on.

Now the rest. I haven't really started pricing anything out yet or made any phone calls (I can start doing this once I know I have land to build on) but I have a rough idea that seems to be well within my budget.

-For a 1000-1200sf modular home I'm gonna figure 80k+
-basement 15-20k
-water well 5-10k
-I'm not sure how much work needs to be done to make the road in decent but it won't be free so another 2k
-Utilites such as natural gas and electricity will just be paid out of pocket

So does that sound reasonable??? Any input or suggestions to help me in this process is greatly appreciated. Im hoping to have this done by next summer but of course this is all just a pipe dream til the subdiving application goes through.

Thanks

[guzzy]

Most of the people I talk to who develop raw land run closer to $40000-$60000 just for utilities. You have to pay almost $10k per power pole, a boat load to trench in a natural gas line, the well, and up to $20000 for the septic depending on what type you choose. Be careful because most people look at the land and the mod and don't realize that the utilities cost almost as much.

[Dynamic]

Hrrrmmmmm..........that much??? I know the septic can't cost that much, my uncle paid only 2-3k for a a long trench for water from a pump house to his house and septic. And as far as I know natural gas is one fixed rate no matter how far you are from the source in rural areas.

Power I can see being expensive but the main line is only 50m away.

[guzzy]

my brother paid 19000 for his septic alone in Grande Prairie (just outside) last year. It is the best money buys and there are much cheaper options.

[V]

If the main line is only 50m away, you could very likely get power for free. I'm not entirely sure how Fortis works their investment policy, but I'm pretty sure they'll give you up to 10k in installation if you install an electrical meter, which of course, you will.

A secondary overhead feed over 50m should not cost 10k. Maybe two poles, 75m of secondary cable, pole mount can, you're probably looking at 5-6k?? At the most, I would think, although I'm not an estimator.

[Vulcan]

Originally Posted by guzzy

my brother paid 19000 for his septic alone in Grande Prairie (just outside) last year. It is the best money buys and there are much cheaper options.

I paid about $4,500 three years ago for mine. It includes the septic tank, a pump tank and the field. My field consists of about 6 buried lines of perforated pipe that the pump sprays out. I have good sandy soil for drainage and a small home, so soil conditions, the size of the home, and the size of the field can play a part in cost.

[mykalberta]

Originally Posted by Dynamic

Well here's my story. I'm about to embark on my first home buying experience and well........I'd figure I'd tap into the well rounded knowlege you CP's have. I have been approved for a 155k mortgage and after a breif look around my area (Flatbush, Smith, Slave Lake) it was pretty well apparent 155k does not get you much.

My grandparents own a quarter section along the highway and last summer they agreed to have it logged and in turn there is a huge cleared area behind the trees. I'm in the process of subdiving as my grandparents approved of the idea and would be happy to provide me with the land to build my house. So thats one big plus as I already have land to build it on.

Now the rest. I haven't really started pricing anything out yet or made any phone calls (I can start doing this once I know I have land to build on) but I have a rough idea that seems to be well within my budget.

-For a 1000-1200sf modular home I'm gonna figure 80k+
-basement 15-20k
-water well 5-10k
-I'm not sure how much work needs to be done to make the road in decent but it won't be free so another 2k
-Utilites such as natural gas and electricity will just be paid out of pocket

So does that sound reasonable??? Any input or suggestions to help me in this process is greatly appreciated. Im hoping to have this done by next summer but of course this is all just a pipe dream til the subdiving application goes through.

Thanks

I am no home guru but I assume by "modular home" you mean a mobile home?

Just remember that there is absolutely no resale value of a mobile home perma built into a property.

Just a heads up.

MYK

[Fozzie_DeBear]

Originally Posted by mykalberta

I am no home guru but I assume by "modular home" you mean a mobile home?

Just remember that there is absolutely no resale value of a mobile home perma built into a property.

Just a heads up.

MYK

I think that he is reffering to a pre-fab home, which look like regular homes, but are reasonable as they are made from modular pieces...I would think that they would retain some value at resale...

[Dynamic]

Originally Posted by mykalberta

I am no home guru but I assume by "modular home" you mean a mobile home?

Just remember that there is absolutely no resale value of a mobile home perma built into a property.

Just a heads up.

MYK

No.........thats manufactured. Modular homes are just pre built and moved in peices or even as one peice to their site.

[Jayems]

http://www.mls.ca

Thats a help, if you didn't know about it.