Spec new construction in Austin

74 Replies

This is a BP success story. Though my business partner lives in Austin, it was @Bryan Hancock who introduced me to another investor that I did my first deal with in Austin two years ago. I did well on that deal, as well as each subsequent deal in the city.

I partnered with @Jerry Puckett on the marketing that helped me find the lot.

I also partnered with another BP member who provided most of the construction funding.

The home is a 3/3 with 2070 SF. It sold for low $500's. Closed last Friday.

The buyer approached us before we finished construction and before we listed it. We came to agreement/contract and did not list on MLS. Perhaps we left some money on the table. but it was worth it to have a firm contract and quick close.

We paid $82K for the lot a year ago. We went moderately over budget on construction for a variety of small reasons. Anyone care to guess our price per square foot for construction?

Originally posted by @Account Closed :
congrats! this was the one that was 130ish/ft? how many dom? did you have a designer pick the finishes?

Yes, very close on cost. Still waiting on a few invoices. Zero days on market, since we took an offer before we finished it. Our architect also did the interior design and finish selections. Our GC added his input, such as the stair case and Mahogany cabinets.

@Bryan A. I'm looking forward to seeing/hearing more about your spec builds.

@Jon Klaus I LOVE IT!!! Don't know why I didn't see this when you originally posted. The floating staircase is great, and the tub is to die for. You did a great job. The front door is similar to what we're doing too. Now the questions :)

  • Is that hickory on the floor?
  • Are cabinets stock or custom?
  • What did it cost to build (excluding land, financing, etc.)
  • The wood on the front of the house (darker) what type is it? Is a siding or individual boards or?? That's something we are doing, but have never used before, so any specifics would be appreciated.

Congrats Jon, it is definitely a success story.

I've been meaning to post more..just been bogged down..as a matter of fact, I think I still need to finish the blogging on a house I sold a year ago!! I think that house looks awesome, Jon. Looks like a rooftop deck maybe? What was the process of weatherproofing? Was the tub cast or the lighter weight option?

Originally posted by Karen Margrave:
@Jon Klaus I LOVE IT!!! Don't know why I didn't see this when you originally posted. The floating staircase is great, and the tub is to die for. You did a great job. The front door is similar to what we're doing too. Now the questions :)
  • Is that hickory on the floor?
  • Are cabinets stock or custom?
  • What did it cost to build (excluding land, financing, etc.)

Congrats Jon, it is definitely a success story.

Thank you, Karen.

Acacia floors.

Custom Mahogany faces on cabinets on stock boxes.

$125 PSF.

@Jon Klaus love that you're taking some chances with the design. I imagine Austin is a great place to do that. I'm curious what your cost of the stair was in comparison to a standard wood framed stair.

Jon - That house is awesome! Love the floors and I love the tub/shower room. In fact, I just showed the bathroom pic to my wife and asked if we could do that in our new house...I may be stealing that... :)

Congrats on the quick sale...and pretty amazing that you were able to do those finishes at that price...

Luciana did a great job on the design Jon. Glad to hear you guys did so well! Now let's go do another one together :-)

Originally posted by Bryce Y.:
Congrats Jon. I noticed there is only a 1 car garage. Is that the norm?

Yes, this is an interesting phenomenon in the neighborhood. New homes have one car garage, carport, or no garages. It's a progressive, green, and increasingly walkable area. Cars are "bad." Yes, I'm overstating it, but that's the vibe.

Originally posted by Patrick Connell:
@Jon Klaus Gorgeous!!!

These are the kinds of houses that have been popping up all over the east and south central area and I love them!!!

The wood tile in the bathroom is one of my new favorite finishes...

Thanks Patrick. I've seen the wood tile used on outdoor decks, too.

Originally posted by Sam Craven:
Nice work Jon, the flow of the house and detailed touches look amazing. Austin would be a fun town to do those kind of spec builds in.

When do you break ground on the next?

Thank you, Sam. I've got two new duplexes just started.

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