Cost to build a kit home (Pekin: loan, how much, cheap house)

[stanfive]

I was thinking of buying a kit home from Menards ( $51,000 ) to have built on a couple acres I own in the country. Now, does anyone have a rough idea in what the cost would be to have this home built? I live in Central Illinois

[linicx]

The current rate in Pekin for a new turn key ready home is $400 per sqare foot. If you have never built a pre-fab home there are considerations; Crawl space or basement? You do not want a slab foundation. Septic and well vs city water and sewer? Type of insulation and where? Type of roof? Exterior: frame or siding? Fireplace or not? Type of window? Wall and floor coverings? Then there is minor issues like closets and laundry room placement, wall switches, wall outlets, sub floor construction, overhead lights, interior and exterior doors, garage, etc..and electric panel placement, putting in the driveway. But before anything happens you probably need a perc test to determine if or where a septic system and well can be placed on your acreage. The County I think does the test.

A log cabin with an open floor plan is often the easiest build. Since you already have the kit the cost of building the structure may be less expensive. .

There is a lot to consider before the first outside wall is erected.

[madpaddy]

Originally Posted by linicx

The current rate in Pekin for a new turn key ready home is $400 per sqare foot.

More typical in Central IL is $110-$160 per square foot.

As far as I know a "kit" from Menards isn't really a kit, but rather just a bundle of raw materials with nothing pre-fabbed to make it easier to assemble.

If you are going to contract the construction out entirely, including a general contractor to manage the project, I would roughly estimate the cost to be around $70-$80,000 based on the materials cost. Of course there are variables like what type of foundation you choose, whether you need septic and well, how much driveway, etc.

[linicx]

The last time i developed a lot was about 10 years ago. It cost ten grand to install septic and field, pull in water and electric lines and install a 20 foot light pole and yard light. It did not include the cost of clearing the land, grading it, or a driveway, but it did include the cost of the perc tests and final inspections.

it is easy to build a cheap house with problems.

Sear's sold "kit" houses about 80-years ago. It was bundles of numbered pieces of lumber that was delivered and dumped in the yard with some directions. It did not include windows or doors.

[stanfive]

Originally Posted by linicx

The current rate in Pekin for a new turn key ready home is $400 per sqare foot.

Holy ****, never mind now. I was thinking maybe 30-40k to have the house built and maybe another 15k for the well and septic. The bank approved for a rough ball park of 150k, so I doubt I can build a house from what you guys are saying. Guess ill just keep dreaming.

[madpaddy]

Originally Posted by stanfive

Holy ****, never mind now. I was thinking maybe 30-40k to have the house built and maybe another 15k for the well and septic. The bank approved for a rough ball park of 150k, so I doubt I can build a house from what you guys are saying. Guess ill just keep dreaming.

Again, that $400/foot number is BS. Not even close. As if a 2500 square foot home in Pekin would bring a million dollars.


$110 - $160/square foot is the price one would expect to pay for new construction INCLUDING the lot, materials, basic landscaping, foundation, and standard utility hook ups. Cut that at least in half if you own the lot and have the materials.

How big is this dream home of yours? $150k seems plausible for your project given what information you've given so far. Close enough to research more if you're serious.

[disneyrecords]

Are you in the trades? Can you do most of this yourself? If you know enough people who owe you a favor, I bet you can get the house wired, plumbed, and up for 140K.

It may be easier to look for a modular home. Many of these factor build homes (no they are not trailers or mobile homes) offer a great bang for the buck, especially in this economy. For a modular, you would need the foundation in and the well and septic ready to go. Quick and easy-- if it is what you want.

[karlsch]

Originally Posted by linicx

Sear's sold "kit" houses about 80-years ago. It was bundles of numbered pieces of lumber that was delivered and dumped in the yard with some directions. It did not include windows or doors.

What did you do, build your own windows??

[stanfive]

Ill have to do some calling around this Monday to see what I can come up with. My brother in law told me to hell with a conventional loan, just get a USDA direct loan as they do new constructions. From what he explained its a $0 down loan from the government at a low interest.

[linicx]

A modeular is a factory built home, too. The major difference between a mobile and modular is the latter does not arrive on wheels. Each piece is trucked in to the site on a semi truck flat bed. Then a crane is used to lift off and place the sections on the foundation. The roof is the final step. It is finished after the modular is fully assembled, leveled and the utilities are connected. The moving companies can usually connect water lines and check for leaks. They are not licensed to connect gas or electric in most states. Ameren and ComEd own Illinols.