Saturday, April 3, 2010

Costs and Financing for 199 Branch Drive - Answers

I have caught up with getting my taxes done, etc and that meant reconciling various accounts which I had left unattended for awhile due to the house construction.

We are getting comfortable in the house now. It has been a cold, wet winter and the most recent electric bill was higher than anticipated but so to was everyone else's bill. The weather is getting nice now and what rain we have had is evaporating quickly.

The house used up most of our financial resources and so we must pay off last items before purchasing other important stuff like window treatments (my wife wants drapes and I want bamboo shades).

We also want to focus on the landscaping now and we will just have to do this incrementally. The drier weather is finally here so our minds have turned to getting a garden started and doing some basic landscaping. I want to start clearing the lot of briars.

The earthwork we did went over budget by $38,000 so immediately we had to make adjustments - one was to give up the garage and the other was to have a shingle roof instead of a metal roof.

We wanted to build the house to LEED Green standards as best we could. This meant sacrificing some East facing windows (2 in the master bathroom and 2 in the master bedroom and one by the shower). Building to Green standards meant finding locally sourced materials, materials with recycled content, are durable, and are energy/water efficient. This was the goal and it probably cost us an extra 10% or so to achieve. A lot depends on what level of finish, roof type, insulation, and fixtures you choose.

When I first approached our builder we were quoted about $150/sq ft but it looks more like $175 to even $$190 sq/ft if we include the builder's fee and our consulting architects fee! If you can do more of the work, the better you will be.

Using my Quicken data I can give you some basic costs breakdowns:

ABC Lighting (lighting fixtures) ~$4000

Acadian Millwork & Supply (windows and doors) ~$30000

Antique Woods Of Louisiana (antique pine flooring) ~$5000

Builder's Risk Plan (builder's insurance) ~$2000

Flat Iron Capital (builder's Insurance) ~$4000

C-N-C Framing/Construction (framing, porch, stairs) ~$34000

Campbell Cabinet Company (kitchen cabinets) ~ $11000

Campbell Contractors (countertops) ~$5000

Campbell Roofing Materials (roof shingles, roof vents) ~$10000

Capital Security System (wired home for alarms, internet, cable, phone, etc) ~$3000

Chrisco Pumping (concrete for slab base of foundation) ~$1000

Calairain Brothers Concrete (advanced treatment system/septic tank) ~$3500

Coastal Insulation of Louisiana (insulation, radiant barrier guard) ~$9000

DA Exterminating (termite pre-treatment) ~$500

David Church (Electrical wiring, etc) ~$13500

Dupont Air Conditioning & Heating (AC/heat recovery) $ 15500

Engineering Services (foundation design) ~$500

Eric Bochmann (finishes) $3000

Floorworks & Blinds (tile work, carpet installation) ~$16500

Greg King (slab work and carpentry) ~$8000

Griffin Polk (Piers) ~$5000

Hayneedle Inc (medicine cabinets) ~$700

Home green Home (earthweave wool carpet) ~$4000

JV Burkes (surveying) ~$1500

JC & WC Construction (Earthwork, culvert) ~$76000

Joe D Hodge (builder's fee) ~$47000

Joey Gamage (roofing labor) ~$3000

Joey Pulliam (wood flooring labor) ~$6500

John T Meeker/Meeker's Plumbing (plumbing) ~$14000

Johnson Plastering (Stucco) ~$17500

KVS Architecture (LEED/architectural consultant) ~$8000

Kern Cole (house cleaning) $1000

Keith Chatigner (plastering/sheetrock) ~$6000

Ken Hamilton (Trim/cabinet carpentry) ~$13500

Kort's Trucking (River sand, gravel, crushed concrete) ~$5000

LCP holdings (tankless water heaters) ~$1500

Lex Pierpont (roof flashing & chimney cap) ~$3000

Louisiana Lumber (lumber) ~$50000

Lowes/Home depot (door hardware, mailbox, etc) ~$2000

Mike's Hardware (hardware, building supplies) ~$8000

Mitchell Lange (driveway, grading, drainage) ~$1500

Northlake Glass (cabinet & shower glazing) ~$1500

Parish Concrete (concrete for slab) ~$16000

Pot-o-Gold (Port-a-Potty) ~$500

St Tammany Parish (permits, etc) ~$3500

St Tammany Supply/Plumbing Warehouse (plumbing fixtures, etc) ~$8500

Tech-Con Systems (wire-tied foundation) ~$4000

Thomas Quave (interior/exterior painting) ~$20000

Vintage hardware (exterior lighting) ~$1500

Waterworks Pump & Well (water pump) ~$6000

William Samuel (site cleanup) ~$3000

Total: ~$527000!! ~$218/sq ft This is about what the Regions Bank Contracted Appraiser rated it, so if one includes land value then we find we have overbuilt.

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