05-05-2018, 02:29 AM
I’m thinking about giving an HPP lot I own to my nephew so he can build a small 2/2 packaged home for his family of three (about 1000 sf). Is the figure of $130/sf for a contractor-built house still reasonable? With clearing, leveling, septic tank, electric hook up, and the other things that need to be done, would a budget of $200k be adequate? Would the bank require 20% of the total cost to be cash he has on hand for a construction loan?