Building a home in Florida question?

[Dr. Nole]

For a few years we have been contemplating demolishing our current home and having our “dream home” built on the same lot here in Florida.


We pretty much have the plan drawn up with the builder we have chosen and a rough estimate of the cost.


My question is: if we delay the project until say Jan 2021 should we expect that cost to be more or less “negotiable”? Meaning, will builders be hurting for business and thus willing to take less…or will they just say something like “we can’t get supplies” like we could pre virus so costs are the same or more?

 

[goldmom]

Where are you located?

 

[Dr. Nole]

Where are you located?

Fort Myers

 

[Deerfuel2]

For a few years we have been contemplating demolishing our current home and having our “dream home” built on the same lot here in Florida.


We pretty much have the plan drawn up with the builder we have chosen and a rough estimate of the cost.


My question is: if we delay the project until say Jan 2021 should we expect that cost to be more or less “negotiable”? Meaning, will builders be hurting for business and thus willing to take less…or will they just say something like “we can’t get supplies” like we could pre virus so costs are the same or more?

That is the same question I have been thinking about, in regards to rebuilding my house at the beach.
I'm very interested in the response on here

 

[Dr. Nole]

That is the same question I have been thinking about, in regards to rebuilding my house at the beach.
I'm very interested in the response on here

I'm starting to think that no one really knows yet...

 

[SoddyNole]

It can easily go either way. A hurricane could wreck the market too. I think putting off a dream for another year is a year you can not get back even if the decision saves you a certain percentage of the total costs.

 

[Deerfuel2]

It can easily go either way. A hurricane could wreck the market too. I think putting off a dream for another year is a year you can not get back even if the decision saves you a certain percentage of the total costs.

That is a good point. Cost to rebuild ( on pilings) was $300+ a sq ft, last year at Mexico Beach. I could not stomach that. It's already down to $250 now. I will pull the trigger at $200.

 

[skipsanole]

For a few years we have been contemplating demolishing our current home and having our “dream home” built on the same lot here in Florida.


We pretty much have the plan drawn up with the builder we have chosen and a rough estimate of the cost.


My question is: if we delay the project until say Jan 2021 should we expect that cost to be more or less “negotiable”? Meaning, will builders be hurting for business and thus willing to take less…or will they just say something like “we can’t get supplies” like we could pre virus so costs are the same or more?

Several high quality builders in Sarasota County will negotiate a Cost + basis contract. That takes the fluctuating costs of labor and materials out of the picture.

 

[swflnole]

I'm starting to think that no one really knows yet...

Paying cash for the rebuild? If not who know's where the rates are headed. Also...if it does slow down does the builder lose his subs which could cause delay's in the project. Do the cost of goods continue to rise? I think you're rolling the dice if you put it off.

 

[Dr. Nole]

Paying cash for the rebuild? If not who know's where the rates are headed. Also...if it does slow down does the builder lose his subs which could cause delay's in the project. Do the cost of goods continue to rise? I think you're rolling the dice if you put it off.

The current plan is to go ahead on the demo/rebuild in 2021...hoping interest rates will be favorable...that and supplies/subs etc will be available.

 

[nynole1]

Without hijacking this thread, my car lease is up in July here in NY. I'm circling like a culture right now hoping to get a steal.

 

[squiffynole]

In Fort Myers I'd put the house on top of 16 feet of fill.

 

[Dr. Nole]

In Fort Myers I'd put the house on top of 16 feet of fill.

Yes we will add some fill for sure.

 

[jdouble3]

Better question is when do you want to lose your homestead exemption? Answer is Jan. 2

 

[Dr. Nole]

Better question is when do you want to lose your homestead exemption? Answer is Jan. 2

That has been a big concern...we think we have that figured out.