How much does it cost to build a home in Las Vegas?
 

I live in a "starter" home (2k sqft) in las vegas and am wondering how much it cost builders to actually build this home. As the value of homes continue to drop I am curious about the actually material and service cost of this home to help determine how low the value of the homes can go.

Also, any idea what the value of the lot is?

value of the lot depends on many factors

anyway dont assume homes cant go lower than what it costs to build one

places like vegas, florida, cali, AZ will def see another 15% drop in home prices

and whatever you do never listen to a realtor about the market conditions they all without exception (yeah even the one who took a liking to you) are liars and full of shit, after car sales people come realtors

You can buy homes cheaper than it costs to build them in LV at the moment

Why would you build one when right now you can buy a home in Vegas for less than the cost of the material delivered to a vacant lot?

Best advice..

When I bought my house, I went against almost every single thing that the realtor told me I could, or should be asking for and negotiating. He was wrong on every account.

I DID get $5000.00 toward new carpeting and tile. I DID get $500.00 towards the refrigerator that went bad between the walk through and inspection. I DID get them to lower the price of the house by $12000.00. I DID get them to do a couple of high priority repairs before closing.

Every one of those things he fought me about saying I was asking too much, I would blow the deal, or some other shit. However, I was approved through my bank, had cash to put down on it as well, so I knew that I was sitting pretty and could walk away.

In my case, it was fall, and the house was being held by a re-lo company. They have been dropping the price for 7-9 months. I knew they would want it off the books, and that they could afford what I was asking for.

In all fairness, with an individual as the seller I am not sure I would have been able to negotiate as well as I did and get all that I was asking for.

:2 cents:

In the high desert area of California, large developers of tract homes paid an average of $55 a square foot, not including the land. As the others have stated, you can buy a home for less than materials alone right now. :thumbsup

http://www.seizethedomain.com/banners/banner5.gif

I bought in Vegas in June, 2006. You do the math. :thumbsup :thumbsup :thumbsup

:throwup

Oh, I am not interested in building one, just figuring out how much this one cost to build.

I wouldn't call your house a starter home based on sq footage. That would be like saying a Lambo is a "starter" car (2 seats)


.

I was thinking the same thing.

I have a 2000 sq foot, 4 BR, 2 BATH house, and I thought maybe it was a regional thing. Like out west that 2000 sq ft was considered small or something?!

:disgust

In Vegas, it's a starter home. Keep in mind, they'll put a 2k sq ft single story house on a 2.4k sq ft piece of land out here. LOL

So how much is a 2k square foot selling for in Vegas these days?

Ouch! Does it still hurt? :(

Depends on the location. If you're on a golf course about $200/sq ft or more. If you're not on the golf course but in a good subdivision about $110/sq ft. I got these numbers from my last HOA bulletin.

America West is advertising $89/sq ft around town.

read the post

You can buy one already built for $59,000

Very well said, you can get an amazing home for about 175K even less depending on what you are looking for.

Right now homes in many areas are selling for less then it would actually cost to build them. Even if you don't include the land.

Why build there when the market is in such a shitter?

My dad's company just picked up a house for $165k that was sold for twice that much 5 years ago.

2200 sq ft.

I read this on Reuters recently. Something to keep in mind.

"Regions suffering the worst negative equity are areas in California, Florida, Arizona, Nevada, Ohio, Michigan, Illinois, Wisconsin, Massachusetts and West Virginia. Las Vegas and parts of Florida and California will see 90 percent or more of their loans underwater by 2011, it added."

http://www.reuters.com/article/newsO...5745JP20090805

Holy fuck, how much land comes with that? I knew it was getting cheap out there but sub-100$/sq is getting nuts!

Around where I live, with 1 to 3 acres you would pay $120/sq for a prebuild home. I still think it will get cheaper. Ive cut my construction bids by 33% since the beginning of the year. :disgust

I read somewhere (maybe reuters) that 50% of all homes in the US will be underwater by the end of 2011.