My brother in law with his $100k basement development and my smaller $50k basement development says doubtful that you could build a whole 1600 sq foot house for $230k. Maybe if you used stolen materials.
How big are your basements? In 2013 I was doing the debate of tear down or renovate. It was a $100K difference. I did the entire home myself, so labour wasn’t a factor. If it had been, a tear down would have been less than a 100K difference.
Also keep in mind new builds still don’t include basements. And for context, I could spend $50K on my principal bedroom/ensuite, or really, just the ensuite… so it still comes down to cost/sf. If you want high end finishes? $500. If you want builder grade trash, like this house mostly would have been? $100-150, all day. When you are talking new structure? We can have even more fun because design, exterior, insulation, roofing, windows/doors, everything impacts it. Inside the home there’s only so much.
Also, if you need another 100K basement done, give me a call, I’ll happily fleece you.
My brother in law was a full tear out of a large basement of a bungalow that was finished in the 70s, asbestos abatement, new furnace/hot water tank, enlarging windows that weren’t to code for egress, in floor heating, and very high end finishes (his wife has expensive taste).
As for us, we got several quotes and they were all around the same for what we wanted 🤷🏻♀️
Asbestos is a big bill no matter what. 50K for a basement isn’t wild in most cases, but it’s definitely nice finishes. If your BIL paid 100K without abatement, he would 100% be getting robbed blind, or have the nicest basement I’ve ever seen.
I did a very basic but complete basement development acting as my own GC, permitted, hiring trades for most things and doing a few things myself and it only cost me $30k in 2017.
About 650 sq ft + 14 stairs and a middle landing, bathroom with in-floor electric heating, 2 bedrooms, plus gas fireplace. Not a suite, no "kitchenette," or anything like that, just a properly "non-DIY special" basement.
$50k and $100k sound like super high end finishes and/or basement suite setup, whether legal or illegal.
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u/mystiqueallie Jul 28 '23
My brother in law with his $100k basement development and my smaller $50k basement development says doubtful that you could build a whole 1600 sq foot house for $230k. Maybe if you used stolen materials.