Need opinions on cost to potentially finish a half-built house

[stranger706]

Greetings and Happy Memorial Day,
We are thinking about putting an offer on this house and property. My question is, what do you all think it would take to finish out this house?

Facts -
1 story
4 bed, 3 bath
2500 sq feet
Foundation and framing are complete
Rough plumbing is complete
Windows and doors installed, minus garage doors
Septic and well are installed

And that's it. No electrical or interior anything.

What do you think is a ballpark estimate to finish this? Including the grading and paving of yard and driveway. I thought maybe around 100k, do you think it could be closer to 200k? Assume regular grade materials inside and nothing weird or fancy.

I welcome all opinions.
Thanks
Pete

 

[cpayne5]

How long has it been sitting? I'd worry about rot if it's been like that for a while. Was a builder building it? If so, maybe you can reach out to them to see if they could help with an estimate to finish it up.

 

[atikovi]

I'd be thinking there was a major structural or site problem that made them stop working. Are you paying cash, because you might not be able to get a loan.

 

[stranger706]

How long has it been sitting? I'd worry about rot if it's been like that for a while. Was a builder building it? If so, maybe you can reach out to them to see if they could help with an estimate to finish it up.

Around 6 months. The owners were subcontracting out most of the work.

I'd be thinking there was a major structural or site problem that made them stop working. Are you paying cash, because you might not be able to get a loan.

Nothing wrong with site or structure, so far that we know. The owners ran into financial problems and have to sell. No other details.

 

[GON]

Great opportunity, do your do diligence. A Cpayne pointed out, how long the home has been sitting is important. Although the home looks "sealed", make sure mold/ mildew is not present if very important. Also looks like excavating is not completed.

Looks like a great home if you like the floorplan, have time, and can do some of the work yourself.

BTW, we actuallly did a second kitchen with Ikea cabinets, they worked out well.

Good luck!

 

[JeffKeryk]

Get some local bids. Maybe the current builder will help out... Good luck.

 

[GON]

Get some local bids. Maybe the current builder will help out... Good luck.

I'm speculating in this market and in Florida, the OP has to move fast (unless something very wrong with the home).

If that home was in CO, West TX, Western OK, AZ, etc------ I would be on a plane tomorrow. Housing market is still in very tight supply.

If I loved that home but could not do due diligence- and it was in a "hot location", I would contract to buy it tomorrow, with a exit clause for $20k in 30 days.

 

[DemoFly]

A gutting for a 1300sqft house here was over $100k and it had a usable roof.

 

[PimTac]

I don’t know what the cost would be as that will depend on what you want. The framing and such is all done but it needs a roof and siding. A lot of the big money stuff is already done.

I’m interested in how that roof intersects in the top photo.

 

[JeffKeryk]

I'm speculating in this market and in Florida, the OP has to move fast (unless something very wrong with the home).

If that home was in CO, West TX, Western OK, AZ, etc------ I would be on a plane tomorrow. Housing market is still in very tight supply.

If I loved that home but could not do due diligence- and it was in a "hot location", I would contract to buy it tomorrow, with a exit clause for $20k in 30 days.

I am looking for a 2/1 condo in a semi decent area for a friend. $500K in a huge older complex, carport, and it needs some work.

 

[GON]

25k roof
20k electric
30 k dywall and finish carpentry
40 k kitchen
26 k for three baths
18 k exterior of the house
40 k excavation

199k right there with these wild ballpark estimates

 

[GON]

I am looking for a 2/1 condo in a semi decent area for a friend. $500K in a huge older complex, carport, and it needs some work.

Hold out and get a 2 bed 2 bath. If things turn bad, a 2/2 will sell many times quicker than a 2/1.

 

[JeffKeryk]

Hold out and get a 2 bed 2 bath. If things turn bad, a 2/2 will sell many times quicker than a 2/1.

Too much money of have to go to a worse area. There was a studio in an old converted apt complex closer to me for $435. Would have been perfect. I didn't move fast enough. 2/2 gonna be close to $600K We have a nicer 2/2 condo in a small complex in Campbell, a great place close to here. It is $750 easy.

 

[oldcodger]

$200 per sq ft.

 

[clinebarger]

25k roof
20k electric
30 k dywall and finish carpentry
40 k kitchen
26 k for three baths
18 k exterior of the house
40 k excavation

199k right there with these wild ballpark estimates

And it needs HVAC.

 

[I<3oil]

And it needs HVAC.

$10-20k

 

[andrew_j]

$200k - $350k to finish

 

[clinebarger]

$200 per sq ft.

I think $500,000 is too much even if it needs to be re-decked....Which it may need if it's been sitting for 6 months with nothing but vapor barrier on the roof.

I was thinking $200-250,000.

 

[RhondaHonda]

25k roof
20k electric
30 k dywall and finish carpentry
40 k kitchen
26 k for three baths
18 k exterior of the house
40 k excavation

199k right there with these wild ballpark estimates

I think you are a bit high on the roof and excavation, light on electric if there’s not even service to the house, but probably close for the rest. Some other items:
HVAC 18k
Landscape and irrigation 15-40k
Garage doors and openers 4k
Insulation 10k
Flooring 15-30k
Lighting 3-8k

 

[clinebarger]

And it needs HVAC.

Not sure you could fit finish plumbing in that either, Although....I can crimp Pex, Glue together Schedule 40, And assemble pea traps good as anyone