Upcoming Foreclosures

Cost to build pool house/guest suite/mother-in-law quarters in central California?

I am buying a foreclosure for $120,000, its on a half acre and zoning allows for a separate structure up to 1,200 sq ft. Right now there is $70,000 in equity, and prices have been improving. In about 5 years I want to add a pool and a pool house/guest suite and I was wondering about the cost. The pool would be a basic in ground pool and put in during the off season. Basic pools run $15-20,000 during the off season, about $5-10,000 less. How much would a 1,200 sq ft pool house/guest suite be? And how long would it take to be built? Not luxury, or cheap quality, something in the middle. details below -The kitchen and front room would be right off the pool area, french doors, 10 ft ceilings, 12" or 18" tile floors, recessed lighting, 2 ceiling fans, built in book shelves, granite counter tops, maple cabinets, stainless steal appliances, etc.. -2 master bedrooms with walk in closets, and master bathrooms. Same theme as kitchen in bathroom (granite, tile, maple), recessed lighting, ceiling fans, etc... not sure on flooring, but I am thinking hardwood floors in bedroom. - In hallways there would be a half bath for use during pool parties (tile floors). Also storage space and a laundry room. -House pre wired for Aux, phone lines, alarm, and audio in front room. -The roof would have to be cement tile to keep the theme of the existing house. -A "U" shaped pergola would go around the pool and connect the house and pool house. The bottom part of the "U" would be the BBQ area (gas connection already there). - I was not expecting to do it for $70,000 that was just the current equity in the house. I was thinking around $100-130 sq ft. I will have to check on what is considered a full kitchen. I have friends that work in construction, but I am not sure on there availability. - I guess the items are more higher middle or entry luxury than middle. That is just to keep the same theme as the existing home. However, stainless steel appliances are still in the same range as black/white, tile can be had for $2-3 (12-18"), hard wood floors for ($3-5), and pre-wiring is cheaper than ugly monster cables later. I see Luxury as SubZero or professional grade appliances (6 burner stoves etc...), imported tile, exotic wood floors, antique book shelves, wood plantation shutters, etc... - There is enough room to drive a vehicle on the side of the house, but not a full sized cement truck. Maybe a friendly neighbor would allow a cement truck to drive thru the back of their lot (removing fence)

Public Comments

1. I am in S.CA, and I built a 1100 sq ft guesthouse five years ago. I did all the work myself, except for exterior framing and roofing, electrical and plumbing. My countertops are laminate, and my roof is asphalt shingles, not cement tile (which require a heavier structure to support them, and which are more expensive.) It cost me about $90,000.00 Prices are better now, with the slow economy, but I dont think you can do it for $70,000, especially if you are going to hire the work out. Also, what you are describing are high end finishes, not middle of the road. Call around to local contractors, and see what they say. Dont forget about the cost of permits and school fees (those are substantial in my area.) Also, verify that you can legally put a full kitchen into a guesthouse. In my area you cannot.
2. Typically a build with an average suburban interior finishes, start at around $80 per square foot and easily rise to $200 plus per square foot or more for a luxury type finish. There are many reasons for such a price spread, including materials, building installed with custom cherry cabinets, granite counter tops, stainless steel appliances, hardwood floors, mahogany baseboard & trim and cedar door & window, wool carpet, imported tiles, spa bath, custom showers and so on, costing more than the average suburban build. (Not luxury? I'd say many people consider; french doors, 10 ft ceilings, recessed lighting, built in book shelves, granite counter tops, stainless steal appliances,2 master bedrooms with walk in closets,master bathrooms, "U" shaped pergola with BBQ area, pre wired for Aux, phone, alarm, and audio. If not luxury pretty close and far from basic.) Other factors to contribute to any cost would be; the ease of access to the site with more difficult sites costing 10%-15% more to build on, generally additions/renovations cost more per sq ft than new builds (if I need to pump/ barrow the concrete 60 feet because a truck couldn’t get to the work place or I had to haul the bricks, lumber, tiles or bags of cement and more) the availability of labor, which determine rates (a renovation at your location could cost $45 sq ft but just a few miles away the same renovations could be $55 sq ft or $50 sq ft), number of windows & there style, roof type (flat or pitched & degree of pitch) & covering (shingle, sheet, terra cotta or concrete tile), material cost vary from state to state and store to store e.g.; it would be cheaper to buy Cedar, hemlock or Douglas-fir lumber in California due to larger plantations, than around New York State or it would be cheaper to buy Granite in North Carolina where it’s quarried than in Louisiana where they quarry limestone. Another thing to make a huge difference to any build is multi-storey buildings, where a 2 storey building of the same square footage than a single storey build being much cheaper because the need for less roof or footing. Well, you get the idea, unless you have a specific idea of quality of materials/interior finishes and detail of site and building layout, plus availability of labor any answer would be a rough guess. I’m guessing around $150 sq ft or more for an high end type finish, is what you should expect to pay give or take. P.S. No doubt you have seen some of the home improvement show on TV, were people have a set budget for a build/extension, yet their budget blows out by sometime double. The main reason for this would be” It’s difficult for professional estimator to cost a project, let alone a novice” The national average in cost to remodel a bathroom is $15000 with an average/mid finish and rising to $25000-$30000 for a high end finish. Seeing you want 2 master bathrooms built new with a better than average finish, at best you’d be looking at $35000, but I'm thinking $40k-$50! http://www.azobuild.com/news.asp?newsID=5641