I have not gotten hold of a reference book (I know of this one--
"Contractor's Pricing Guide 2006: Means Residential Square Foot Costs"
that I'm looking for) that supposedly answers my question so I'm
asking here for the time being.
I'd like to know if anyone can tell me the current cost of residential
construction per square foot for a one and two story home on the far
west side of Houston, Texas? I had heard last year (word of mouth
from a realtor) that it was $65 to $70 per square foot for a two story
tho I didn't verify it from other sources. And I presume that figure
also includes the land? I want to know this for estimating my
replacement cost for my homeowner's insurance policy rather than just
accept their numbers.
If I need to furnish any other info which I may have omitted to answer
this, just let me know. If it matters, I live in a 2 story above
average quality home. thanks in advance.
He may have replacement cost but I think it's benchmarked on the
insured value he establishes his house at? That is the reason for his
post I believe.
ie: lets say he insures his house for $100,000 so the replacement
cost insurance rider might pay a limit (probably using a percentage)
over that $100,000. Now lets say his house is really worth or cost
$300,000 and he insures it for $100,000. I don't expect the
replacement cost rider to make that difference up because if it did,
everyone would want to under insure their house with that rider.
$65 to $70 a square sounds more like a small, perhaps starter home with
next to no frills in it whatsoever. if you look at new construction
from several builders in the greater Houston are, their posted prices
range somewhat depending on the neighborhood they build in (land costs
and how much they think their likely buyers can afford the 'extras' ,
but generally, closer to $100 per square than $65 per square.
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