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I was hoping someone could help with this...we were looking at Cobblestone Place in Clayton as an area we'd be interested in having a home built. From the KB website, they state that a 2888 sq ft house starts at around $185,000. Has anyone purchased a KB home or has anyone heard just how realistic that figure is? I know I've read threads that mention that you get nothing close to what you see on their site and I'm just wondering how basic of a home you get for $185,000. Any ideas on what would be a more realistic figure? Any information on KB Homes as well as Cobblestone Place would truly be appreciated. I honestly value each and every one of your opinions and would love to hear as many viewpoints as possible! Thanks so much!
cbmama, The $185,000 is for the basic house with no upgrades. We are in the process of buying a KB home in Ravenstone (Durham). We are going with the Tyler (I know they also offer the Tyler in Cobblestone). The base price is $189,000, and right now our wish list is about $50,000 - $60,000 in upgrades. Most of which is flooring (hardwood floors and upgraded carpet), maple cabinets, upgraded master bath, and solid surface countertops. They gave us a 64 page book of upgrades to choose from, and 21 days to pick them out. We have been over to KB's showroom 4 times so far trying to figure out what we want in the house. If you have any more question, feel free to ask.
Thank you both for your insight. We just haven't known what to expect but have heard a lot about KB homes dragging you in with the gorgeous models, but leaving you feel a little empty when you realize just how much the options will cost. At least if we know what we are in for, we'll be so much better prepared. So far, dave in jersey, have you been happy with the process with KB? Their homes appear to be the nicest from what I've seen and offer substantial square footage for the money, I just don't know much about the company. Are you able to negotiate the base price of the house with them and/or the cost of the options, or are all of the prices set in stone? Does the upgrades book list the prices or do you have to contact your sales rep for that? Can one get a copy of that prior to signing a purchase contract? Probably not eh?! LOL Thanks so much for your help, I really do appreciate it!!
Two of my clients purchased base home of $165,000. One ended up paying $195,000 and one ended up paying $220,000, due to the upgrades they chose.
What bothers me a bit is when it comes time to re sell these homes...they both have the exact same square footage. Am I going to be able to sell home #2 for more than home #1, when they are the same square footage? Maybe but will new buyers pay $25,000 MORE? I doubt it.
Typically, I find that with KB Homes, you can expect to pay about 20% over the base price unless you have really deep pockets!
"So far, dave in jersey, have you been happy with the process with KB?"
We just signed the contract a week and a half ago, so we aren't too far into it yet. But so far, we do feel good about it. We have our first appointment at the showroom on the 28th. Who knows how we'll feel when we get done with that. Our 2nd and final appointment is March 5th.
"Are you able to negotiate the base price of the house with them and/or the cost of the options, or are all of the prices set in stone?"
Prices are set in stone. But we did get them to drop the lot premium of $4000.
"Does the upgrades book list the prices or do you have to contact your sales rep for that? Can one get a copy of that prior to signing a purchase contract?"
The book does list the upgrade prices, but you don't get that until after you sign the contract. But our salesman showed us the prices on his computer before we signed anything. Once you sign, you have 21 days to pick your upgrades.
VickiR--Thank you so much for your reply, you gave us a lot to think about that we had not yet considered. As a realtor, do you do negotiations with the builder or simply represent the buyers throughout the process? I'm not sure how it works when it comes to new home builders. In your experience, who are some of the better builders in terms of prices, upgrades, etc in the same price range as KB?
DaveinJersey--Thank you so much for your answers. I really appreciate the personal insights you have as it helps make our decisions more informed. I truly hope the whold process goes smoothly for you and that you enjoy your new home for many years to come. By the way, how long will it take for your house to be completed after contract signing? Thanks again!
I do not know a thing about the process. Are you able to shop your upgrades around? In other words can you have your own installer do the upgrade if they can beat KB's price or do you have to use KB products and installers? Just curious.
With some of the upgrades, at least you could improve later and use your own contractors. For us, we know we do not want the carpet upgrade at this time because we have 3 small kids who will just tear it up anyway! I suppose the task will be to pick the upgrades wisely and then make sure you're not getting too many things that will hurt upon resale as VickiR described.
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