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Hi Everyone,
Nice to find this forum as it has been a wealth of information. I have purchased a lot in St. John that is nice and flat and has easy access (hard to believe but true). My plan is to build a modest 1,000 SQFT 1 story ICF home. At this point, I'm trying to get the cistern and slab installed by a contractor before next storm season. I would then take over the ICF portion in 2026. I'm working with an Architect and am in discussion with a couple different builders. I'm wondering if there is anyone currently building on St. John or that has recently finished that was willing to share costs. Whenever I ask any builder about cost I get the standard $600/sqft+ cost. I also have alot of people asking what my budget is in response to that question. I'm in commercial construction and do projects in very remote areas of Alaska and when I pencil the costs out using local material costs it is significantly lower than the $600/SQFT so I'm trying to figure out what I'm missing. Is there anyone out there that might be able to share some numbers on what their site work/cistern/slab cost? I would really help me with some early financial planning so I can know what is possible. Thank you again and I look forward to hearing from you.
Posted : November 8, 2024 9:37 am
I can't help you with specific contractor recommendation other than to say the $600/sq.ft. starting figure sounds about right given the current economy. I can also tell you that, based on my experience, you can probably expect the finished per sq.ft. cost to be significantly higher. There are dozens upon dozens of variables and challenges when it comes to building in the Caribbean. Nothing will be easy, nothing will happen quickly and, above all, nothing will be inexpensive (or maybe even what many people consider "reasonable").
When we built our home, we were behind schedule and over budget almost from week one. Our finished home ended up costing more than double what we initially thought we wanted to spend when we first dreamed of building a home in the Caribbean. My best advice is to do your due diligence and get the most accurate pre-construction estimates you can from your architect and contractor. Once you have that initial number add 50%. If the resulting estimate doesn't frighten you proceed with the project. Keep in mind that number is only a pre-construction estimate, your finished project will exceed that. Building in the Caribbean (even what some call a modest home) is a labor of love and not for the budget minded. You need patience and very deep pockets.
Good luck following your dream.
Posted : November 8, 2024 10:57 am
Topic starter
@afriend Thanks for the quick response! Would you mind sharing your SQFT size and you original budget and final price? To be over budget on week one must mean they hit rock during excavation or their number was flawed from the very start. Not trying to be critical but these are the types of situations I will try to avoid by addressing it upfront by including a rock clause in the contract along with a daily rate for rock removal. Otherwise you turn the budget over the the contracts via uncontrolled change orders. Thank you again for the response, it is very helpful insight.
Posted : November 8, 2024 12:01 pm
