Hi Ty, I really like your videos. I find them very helpful. Quick question, my wife and I are thinking about building a two-story home and found a floor plan that we really like. The problem is, however, the rooms on the first floor are too small. The house is about 38 feet wide, but we would like to extend it 3 feet on the left side which would make the rooms on that side of the home wider. However, a friend of mine told me that we should only consider extending the house 2 feet because 3 feet might require a redrawing of the plans. Inasmuch, he said we should try to keep the width (40 feet as opposed to 41 feet) and depth of the home an even number because that helps to reduce material costs. Does this seem right or makes sense? I'd appreciate any insight you could offer.
There are a lot of things to consider. But a lot of developers make the homesites a specific size to fit the width or depth of popular sized homes. 40' is one of those sizes. So, in general, you wouldn't want to go wider than 40'. But, on a bigger homesite that wouldn't matter. I would just speak to a few different builders or architects to get the cost to do the different sizes. Best of luck & thanks for your excellent question.
Frankly, I suspect many of these decisions (about room size, fireeplace, etc.) should be with your architect long before it reaches the builder. Unless you are doing a quick mod of a spec home.
Thanks for sharing your thoughts. With a custom home you are 100% accurate. With track builders the room size & fireplace location is predetermined by the builder depending on the floorplan you choose.
Hi Ty. We need your help. My wife and I are thinking about building a two step-ranch with a small builder. The plan that we like has a cathedral ceiling in the family room (it's a huge room) and a vaulted ceiling in the study. However, the ceilings in the rest of the house are only 8 feet. The costs to increase the ceilings on the main floor to 9-feet is about ten grand. Do you think it would be worth it? My wife says she doesn't think it's worth it because the ceilings in the family room and study are already vaulted.
Excellent question. It really depends on you, but I know that's not the answer you're looking for. So, I would say this... If it's pushing your price point it's not worth it. If you really don't care, that's a great reason to not do it. But will it pay dividends when you sell? Most likely. As home prices continue to increase over the years, it will likely become more important to future buyers. Hopefully that helps.
Why? I feel like all of this advice presupposes that you are buying your home in order to resell it (or that you should buy your home as if you were in the business of reselling it). If you intend to live in the home indefinitely, then the chance that you'd be able to predict which "upgrade" would yield a good return when you (or your heirs) sell the home is virtually nil. You're better off choosing the biggest house on the best lot, rather than worrying about upgrades (many of which won't be around by the time you sell). So, for example, it's highly unlikely that even the best cabinets will still be around or still be popular when you sell 20 years later, so who cares? Many upgrades are stylistic things that change - today's plus is tomorrow's minus. Buy the home that works for you & that makes you happy; don't worry about resale because if you're buying a home for resale, you probably shouldn't bother building it from scratch. It really only makes sense to build homes that you plan to keep indefinitely, at which point virtually all non-structural changes will be meaningless. If in doubt, go for the better lot & the bigger home as those will drive value far more than anything you might pick at a design center.
Thanks for sharing your thoughts. Your advice is good for those who actually plan to stay in the same home for 20 years or longer. But, the average American moves every 5 years. So, for the most part, your advice doesn't apply to most people.
@@LongJourneys I’m sorry for your situation. It definitely stinks to not have a place to call home and, we certainly live in a wicked world. Though, one of the great things about owning a home is that it does increase in value so as you get older, you can sell your larger home and downsize paying cash for the smaller house and putting some money in the bank. For a lot of people, the equity in their home is, their largest source of wealth. Thanks for sharing your thoughts and for watching my video. Best of luck to you my friend.
Another awesome video One thing I stay away from is adding these costs to mortgage with 7% rates now over 30 years. Ouch Plus property tax is based off the whole selling cost ( house, lot, structural and design/ landscape costs) Save $$ by doing later and pay out of pocket
Thanks for the compliment. You are correct. With higher rates it might make sense to not add things you can do later on your own. That being said, a lot of builders are offering to buy down your mortgage rate. So, you might have a rate closer to 6%. Check out my video, Why Right Now is the Perfect Time to Build: ruclips.net/video/oO5FzsHqSQI/видео.html
Most people do not stay in house for 30 years. So if you’re only here for 5-7 years as is typical, you would only end up paying a fraction of the total price if you roll it in to the mortgage. On the other hand, if you pay out of pocket you will pay 100% of the costs
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Hi Ty, I really like your videos. I find them very helpful.
Quick question, my wife and I are thinking about building a two-story home and found a floor plan that we really like. The problem is, however, the rooms on the first floor are too small. The house is about 38 feet wide, but we would like to extend it 3 feet on the left side which would make the rooms on that side of the home wider. However, a friend of mine told me that we should only consider extending the house 2 feet because 3 feet might require a redrawing of the plans. Inasmuch, he said we should try to keep the width (40 feet as opposed to 41 feet) and depth of the home an even number because that helps to reduce material costs. Does this seem right or makes sense? I'd appreciate any insight you could offer.
There are a lot of things to consider. But a lot of developers make the homesites a specific size to fit the width or depth of popular sized homes. 40' is one of those sizes. So, in general, you wouldn't want to go wider than 40'. But, on a bigger homesite that wouldn't matter. I would just speak to a few different builders or architects to get the cost to do the different sizes. Best of luck & thanks for your excellent question.
Frankly, I suspect many of these decisions (about room size, fireeplace, etc.) should be with your architect long before it reaches the builder. Unless you are doing a quick mod of a spec home.
Thanks for sharing your thoughts. With a custom home you are 100% accurate. With track builders the room size & fireplace location is predetermined by the builder depending on the floorplan you choose.
You look gorgeous as well ❤❤❤❤❤
Thanks. I work hard to keep this boyish figure. LOL.
Hi Ty. We need your help. My wife and I are thinking about building a two step-ranch with a small builder. The plan that we like has a cathedral ceiling in the family room (it's a huge room) and a vaulted ceiling in the study. However, the ceilings in the rest of the house are only 8 feet. The costs to increase the ceilings on the main floor to 9-feet is about ten grand. Do you think it would be worth it? My wife says she doesn't think it's worth it because the ceilings in the family room and study are already vaulted.
Excellent question. It really depends on you, but I know that's not the answer you're looking for. So, I would say this... If it's pushing your price point it's not worth it. If you really don't care, that's a great reason to not do it. But will it pay dividends when you sell? Most likely. As home prices continue to increase over the years, it will likely become more important to future buyers. Hopefully that helps.
Why? I feel like all of this advice presupposes that you are buying your home in order to resell it (or that you should buy your home as if you were in the business of reselling it). If you intend to live in the home indefinitely, then the chance that you'd be able to predict which "upgrade" would yield a good return when you (or your heirs) sell the home is virtually nil. You're better off choosing the biggest house on the best lot, rather than worrying about upgrades (many of which won't be around by the time you sell). So, for example, it's highly unlikely that even the best cabinets will still be around or still be popular when you sell 20 years later, so who cares? Many upgrades are stylistic things that change - today's plus is tomorrow's minus. Buy the home that works for you & that makes you happy; don't worry about resale because if you're buying a home for resale, you probably shouldn't bother building it from scratch. It really only makes sense to build homes that you plan to keep indefinitely, at which point virtually all non-structural changes will be meaningless. If in doubt, go for the better lot & the bigger home as those will drive value far more than anything you might pick at a design center.
Thanks for sharing your thoughts. Your advice is good for those who actually plan to stay in the same home for 20 years or longer. But, the average American moves every 5 years. So, for the most part, your advice doesn't apply to most people.
@@LongJourneys I’m sorry for your situation. It definitely stinks to not have a place to call home and, we certainly live in a wicked world. Though, one of the great things about owning a home is that it does increase in value so as you get older, you can sell your larger home and downsize paying cash for the smaller house and putting some money in the bank. For a lot of people, the equity in their home is, their largest source of wealth. Thanks for sharing your thoughts and for watching my video. Best of luck to you my friend.
Another awesome video
One thing I stay away from is adding these costs to mortgage with 7% rates now over 30 years. Ouch
Plus property tax is based off the whole selling cost ( house, lot, structural and design/ landscape costs)
Save $$ by doing later and pay out of pocket
Thanks for the compliment. You are correct. With higher rates it might make sense to not add things you can do later on your own. That being said, a lot of builders are offering to buy down your mortgage rate. So, you might have a rate closer to 6%. Check out my video, Why Right Now is the Perfect Time to Build: ruclips.net/video/oO5FzsHqSQI/видео.html
Most people do not stay in house for 30 years. So if you’re only here for 5-7 years as is typical, you would only end up paying a fraction of the total price if you roll it in to the mortgage. On the other hand, if you pay out of pocket you will pay 100% of the costs
@@slowmotionforme8715 That is an excellent point. Thanks for sharing your thoughts.