Building a new house - tips

[meme405]

Originally Posted by Selanne_200

BE careful tho, if your GC doesn't pay the sub-trades, you're still on the hook as the owner

Yes, this is when Lien's start to get filed and the project starts to get very messy.

As an owner you have to be on top of anyone who has a hand on your project to make sure them, all their sub contractors, and all their suppliers are paid. It can become a large undertaking.

Think about it this way, there are people who's actual job it is to manage projects like these, this is a full time job for them. So if you think that you can come in and just manage your own house being built with no experience, and doing it on the side after work, or on weekends, you are dreaming.

[v_tec]

Originally Posted by MindBomber

The contractor will accept money, and will not accept gift cards. To pay a contractor with HD gift cards would be equivalent to paying at a restaurant with Save-On gift cards.

Originally Posted by meme405

LOLWUT?

Originally Posted by gYU

My thoughts exactly too. But you will be amaze at the amount of cheapfuck ideas RFD and credit card forums come up with to maximize their travel reward points/cash backs....

[Jas29]

Make sure to get everything in writing and have signed copies of what is expected to be completed and how much it will cost.

My grandparents hired a random GC off the street and had no paperwork.

Had to pay off 1 sub that installed the carpet(To get lien removed).

Had to hire a lawyer to write a letter of intent to sue for Herbies painting who lied on the lien paper and said we owed him 2600.00 when the invoice only said 1600.00. (Didn't even painted 3/4 of the house)

Had to call the police on the GC for coming to our home and threatening us and calling us in the middle of the night when he was drunk

Ended up with my brother, my dad and myself doing a lot of the work ourselves to finish the house and 1 sub not getting paid.

[kkttsang]

wanting to bump this thread as i ma in the same situation as OP now, we are wanting to knock down and build a new house in east vancouver, first ave area.

I am looking into which builders to choose from, so far i have wallmark, blackfish,best builder, vancouver custom homes on the list.

any reccomandation on builders?

and also any information on getting a construction mortgage with the bank, is it same rate as a regular mortgage. We have about 100k to spend right now and hoping to mortgage out the rest, since the land is paid off.

[MindBomber]

I'm always hesitant to say anything about specific builders.

I'll say that generally the smaller the builder the better the quality.

[Selanne_200]

I'm not sure about the rate but a construction mortgage is different than a regular mortgage in that how the money is paid out.

As you know, a conventional mortgage pays out the entire sum of money to you at once but a construction loan will require you to put down your own money first, up to a % of completion before they start releasing money to you in stages based on the construction progress. So it really depends on how much money you have to spend and what's your total budget/estimate for the house. But if you only have 100k to spend I would say it's safer to go for a conventional mortgage if you can negotiate it with you bank since I vaguely remember that my bank only started releasing the money once 40% of the construction has been completed.

A tip for you, just ask for a mortgage but do not disclose that you're thinking of using that money to knock down the house since banks do not like to have just a plot of land without a habitable building on it in the event they have to foreclose.

[hopalong]

I'm looking into building a house on a family lot by 49th n Vic within the next 2-3 years. I'm interested in knowing reputable builders also.

[EmOne]

In the east van area, there's pacific gate development Tom is his name, $150 per sq ft
he quoted us, including main house and lane way everything for $465,000

[MindBomber]

Lots and lots of good builders in Vancouver. Just be sure to do thorough DD.

[GLOW]

maybe he got the $/sq-ft is wrong. at 465 it sounds like a 2000 sq-ft home???

[EmOne]

Well the lot is 108*33 = 3564
3564 @70% comes out to be little shy of 2500sq ft, then 16% of the 3564 for the lane way =little shy of 600sq ft. So total is 3100sqft * $150 = $465,000.

[MindBomber]

Congrats on building new house everyone.

[EmOne]

Originally Posted by MindBomber

I searched Pacific Gate Development and the domain that shows up is expired.

I think that supports my point quite nicely.

So a quick search and you came up with nothing, that proves a point?

I'm posting useful information for others to consider, if you got a issue with my posts, PM me then.

[Doubl3_H]

Originally Posted by EmOne

Well the lot is 108*33 = 3564
3564 @70% comes out to be little shy of 2500sq ft, then 16% of the 3564 for the lane way =little shy of 600sq ft. So total is 3100sqft * $150 = $465,000.

That's your typical East Van house, but don't forget, you get what you pay for.

One of the builder that we worked with in the west side, quotes 250-300 per sq ft for custom builds and he adds 20% commission on top of that.

[GLOW]

Originally Posted by MindBomber View Post
I searched Pacific Gate Development and the domain that shows up is expired.

I think that supports my point quite nicely.

i don't know if it has anything to do with being a developer specifically but a business in general. red flags go off in my head if a company i'm thinking of dropping half a mill on can't keep their website operational.

20% sounds about right for the cost of GC'ing a job

[noclue]

one of my neighbours down the street is rebuilding his home and he is paying $270sqft and its not even luxurious just decent quality. Though his house is built on a hill which is a bit more challenging.

A new house and laneway for only $465,000? I'd be really skeptic.

Anyway can someone explain in detail how the tax loophole works if you keep your foundation?

[frost91]

i've built my own home and dealt with many renos.

there are far too many variables from east side to west side and the cost of construction. (i.e. $120/sq foot home all the way to $300/sq etc)

the best piece of advice i can give you is find a lay out that you like, i prefer one that has already been built and that i can go into someone's house and walk around (because architects can draw a layout that doesn't work), then have that layout drawn to your lot.

any Q's feel free to PM

[Koflach]

When it comes time to doing the interior finishing on the home go to a company like Westcoast Moulding and Millwork (or another company like them) and speak to an outside sales rep. They see a lot of homes and can help you put together a vision for the inside of your house

[Gumby]

Originally Posted by EmOne

In the east van area, there's pacific gate development Tom is his name, $150 per sq ft
he quoted us, including main house and lane way everything for $465,000

Originally Posted by EmOne

Well the lot is 108*33 = 3564
3564 @70% comes out to be little shy of 2500sq ft, then 16% of the 3564 for the lane way =little shy of 600sq ft. So total is 3100sqft * $150 = $465,000.

Wow that's pretty cheap for a 3 storey house AND laneway. Have you seen any other houses built by this guy?

[Selanne_200]

I live in an area where pacific gate have quite a few projects going so I've seen their work. Personally I wouldn't recommend them for a number of reasons. What you pay is what you get for the most part

[HondaCRZy]

LaneFab.com makes some nice homes

[Nicco]

shoot me a pm if you guys have questions on building. Family has been building houses in vancouver for the last 17 years.

[GrayFin]

There are lots of great builders in Vancouver. Others are good and well known in which their service are becoming expensive too. For a person who makes the most out of my hard earned cash, i would go for the cheaper service but have the same quality of work.