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100K Budget Update – Time to Make Final Cuts [edited]

by Chad Ludeman on July 28, 2008 · 6 comments

in budget,Development

With construction only weeks away it is time to review the construction budget and make our final cuts to try and reach our $100,000 target. Our last major post on the budget was all the way back in February. Scott at Build It Green Philly (aka Level 5 Construction) sent over the most up to date budget to me this weekend. The budget is based an older version of plans that included some slightly different mechanicals than we are leaning towards now. ISA is working as we speak on finalizing the construction drawings for Scott’s final quote.

The number is not pretty so let’s just get it over with. The current construction budget is at $115,664 $111,664. This is painful to me to say the least. Cuts need to and will be made in the next few weeks. I guess this is the exciting part where we see if we can actually pull off this goal that so many have told us in unachievable. I know it’s possible. Whether we have the right design to accomplish it or not will be seen in the next few months.

Here is the budget broken down into categories:

Current 100K House Construction Budget

$11,696 – Concrete
$1,803 – Masonry
$18,104 – Rough & Finish Carpentry
$10,705 – Thermal & Moisture Protection
$6,144 – Doors & Windows
$10,448 – Finishes
$22,752 – Special Construction (SIPs, Casework, Appliances)
$13,915 – HVAC
$11,616 – Plumbing
$8,479 – Electric

$115,662 Hard Construction Budget

($2,000) – Federal Builder Tax Credit for homes that are 50% more efficient than code
($2,000)  – Federal Solar Tax Credit for installation of our solar thermal system

$111,662 – Total 100K Construction Budget

As, stated before, this is based on past plans and some things will change in the coming weeks just because they have been updated to reflect the new plans. I will be doing a series of posts on each reduction made until we get to our final number. Each reduction will also be recorded on our working 100K Construction Budget also. Go easy on us in the comments. It’s a stressful point in the project right now.

If you enjoyed reading this post I can promise you'll love our new writing over at Postgreen Homes. Yeah, we know that's the same thing your favorite band said and their new album is nowhere near as good as their early stuff, but seriously, we are actually still getting better.

There also isn't much conversation to be had here . . . at least not with us. So come on over to the Postgreen Homes Blog and tell us what you think of our new(ish) digs and crazy ideas. We will be sure to tell you what we think of your opinion.

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Edited 100K Budget with Federal Tax Credits |
July 29, 2008 at 4:19 pm

{ 5 comments… read them below or add one }

1 Shawn Busse July 28, 2008 at 8:32 pm

Good luck Chad. I’ve been there, and know how it feels. I wish you the best in making it come true.

2 home July 29, 2008 at 8:19 am

Best wishes Chad..I think it will great after finish…

3 matt olson July 29, 2008 at 4:07 pm

no money for landscape either.

that said, as someone who’s worked on many new construction projects, where you’re at, even before more cuts, is simply amazing. tip of the hat to you.

4 chad July 29, 2008 at 4:15 pm

Thanks for the encouragement, guys. I just edited the post to show the Federal Tax Credits we will get for the solar thermal system as well as being 50% more efficient than a code home. Not sure how I forgot those.

Matt – Yeah, landscaping will be separate and I will be doing most, if not all, of it myself to save costs on this first project. It is kept out of the budget for the case study as landscaping costs will vary greatly depending on location and is not used when comparing to other psf construction costs that we will be comparing ourselves to.

5 tracy July 29, 2008 at 4:36 pm

There’s a Teddy Roosevelt quote, “Believe you can and you’re halfway there” which you’ve embodied on this project. The dedication, inspiration and ingenuity of you and the expanded team make up the rest of the journey. Thanks for letting us be a part of this very cool trip.

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