Architectural Designs

How long does it take to build a small house?

I have the house plans, contracts (unsigned) and financing in order for a house I want to build. It is only 1400 sq. ft. and I need to have it built and closed by November 30th to get the first time home buyer tax credit. Is this impossible? Does it need to be closed in order to get the tax credit?

Public Comments

1. are you hiring the electrician? the plumber? is it pier and beam or concrete? who is doing the fountain? insulated? DETAILS, DETAILS, DETAILS!!! Subcontract and you can be done in 3 months, max.
2. Not IMpossible, but any contractor is going to want MONEY to push it through like that. Most contractors like to have at least 120 days....I mean, you can pour a slab, and tilt up walls two days later, but it ain't cured by then. If you're talking about closing escrow by then, that means you need to have certificate of occupancy. Annnnd, if you don't even have the contracts signed yet...."financing in order," does that mean it's approved, you have the money for sure and can start tomorrow? Sounds pretty close, time-wise. From the website: "...First-time home buyers purchasing any kind of home (new or resale) are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. A limited exception exists for certain contract for deed purchases and installment sale purchases. See the IRS website for more detail." The rest of the FAQ is here: http://www.federalhousingtaxcredit.com/2009/faq.php Good luck, that'd be nice, the $8,000. Might have to spend a little more to get it than you might have been planning (to finish by the date).