Okay, so we’ve been given a lot of, I mean, at the end of the day, there’s so many questions that we get on The Daily, phone calls, emails.

And so we kind of compiled the most common questions I had.

So let’s go through these questions and let’s see if we can answer them.

Okay, so a very, very popular question that is asked on The Daily is, what is a realistic budget for a home renovation?

Top to bottom?

It’s a loaded question.

I’d say 100 to 200 bucks a foot.

Yeah, I would say the same thing.

So that’s typical.

Just depending on neighborhoods, depending on how much things you’re knocking down, depending on finishes you’re selecting, it can range literally from 100 bucks a foot to 200 bucks a foot.

Which is a tough pill to swallow.

I can remember a time where you and I were at the real estate auction, literally buying homes that were three years old for $35 a foot.

Yeah.

And it’s like, what it’s become as far as just cost of materials and everything is pretty crazy.

So I get that’s a number that might shock people, but that is what it’s costing.

Well, at the end of the day, I look at this as an investment if you’re in the higher end luxury stuff.

Yes, of course.

So if you’re spending 200 bucks a foot, let’s say let’s go high end.

So let’s say you’re spending 200 bucks a foot for a remodel and let’s say it costs you 500 grand, but your house is now worth 900 bucks a square foot.

You’re now increasing your value.

Yeah, there’s several neighborhoods you can go by and pay three, four and 500 a foot, spend 200 a foot in updating it and get 300 a foot in increased value.

We see that all the time.

We’ve actually seen that with some of our clients.

We’ve seen it, especially neighbors like the Ridges, McDonald Highlands, Sky of.

Yeah, Anthem, there’s some sections of Anthem that have those views that you can do that with.

The Willows, a lot of similar neighborhoods that we do.

Yeah, TPC properties.

Like there are certain sections of this town you can do that in.

And people will pay top dollar for a good design.

That’s a fact.

There’s a premium for it.

But a good answer to that would be between one to 200 bucks a foot, just depending on the circumstance for sure.

That’s a good answer.

Okay, a new build in the Low Mountain Northwest area.

What price per square foot do you think you’re starting off with just the build, not the land?

Not the land.

Not the, just the build aspect of it.

Just your vertical costs.

Yeah.

So not in any of your side improvements, your gas, sewer, water.

Right.

I’d plan on 300, 350.

Yeah, that’s exactly what I was gonna say. 300 to 400, depending on how nice you want it to go.

Let’s go, McDonald Highlands.

Sorry, let’s clarify. 300 to 400 per square foot.

Per square foot, yes. 300 to 400K. No, yeah.

Okay, good.

Askiah, McDonald Highlands.

What, even the Summit, like what should people expect to pay price per square foot for just vertical build?

At least 600, probably closer to seven.

Some builders out there are gonna charge you 800 or more.

Currently, what is Kingdom & Co., we have a home that we’re building in McDonald Highlands, one that we’re building in Askiah, potentially another one being built in Askiah.

We have a few up in the Northwest, but let’s focus on McDonald Highlands and Askiah right now.

We have two homes going on right now.

What are they paying price per square foot for vertical?

They are paying around 650, 700 a foot on those.

Gotcha, okay.

That’s good to know.

Why am I only paying 400 in Northwest and paying more there?

I would say a lot more stone, higher-end finishes.

You can build that caliber and quality in the Northwest part of town.

It’s harder to get that equity spread, and so a lot of people aren’t.

They’re still building nice stuff around Lone Mountain, that area.

They just take it up a couple clicks when they go into the guard-gated communities with a view.

Can I design slash build, can I do a design build on my home if I don’t live in town, if I live out of state?

Absolutely, yeah.

A lot of our clients are here part-time of the year.

A lot of people are involved with Las Vegas for the tax benefits.

They’re establishing residency in Nevada, so a lot of our clients are not here a good chunk of the year.

I honestly would say about 30% of our clients don’t live here, that we’ve had it.

And it’s kind of cool because we can use Job Tread.

We have a software.

We can update them daily on updates on their home, and our communication is unbelievable when it comes to the out-of-state experience, and that’s important to us.

Yeah, so one of the things that’s very beneficial for our company, especially for people who live out of state is we do daily logs on a software called Job Tread where our customers have a login.

They log in, and they can see their daily updates.

So the superintendent will say, hey, today we got done.

Check out the plumbing we got done.

Check out the framing that was fixed, and they go through all of the things that got done that day, and it’s a daily log.

So you can always go back and see what was done.

And sometimes there’s updates on challenges.

Hey, we just noticed this was here.

This is not the right spot, so we’re getting this fixed.

But the communication daily, especially for out-of-state people, when you’re on there every day, they are very appreciative.

I had a client recently, this is a friend, actually, that was using the Job Tread, and she said, I absolutely love logging in daily and just seeing the progress, so satisfying to see.

And I was like, that’s cool.

It made me feel good because I’m like, what we’re doing is actually working, and it makes me feel good when you have a good process that communicates directly with the client.

Can I live in my house during the remodel?

That’s a really good question.

I would rephrase that to saying, should I live?

Not can I?

Yeah, I don’t recommend it.

I think it’s a miserable experience.

There’s dust, there’s disruption, there’s noise, there’s all sorts of things that I just think.

It’s at the scale that we’re doing remodels, I think you’re much better off finding a temporary residence elsewhere.

I would say the only way it makes sense to me is if your house is big enough to where you have a casita or you have a wing that you’re not even touching at all, that’s different, that’s fine.

But if you’re redoing the whole home, yeah, I would- Get out.

Most of our clients just do that, just in general.

They go find an Airbnb for a few months or they go live with a friend or whatever it may be.

They go rent a house.

But I would highly recommend not living in the home because it’s a disaster at times.

Meaning it’s just chaos.

It’s organized chaos.

There’s also the issue of when you’re demoing an area, we aren’t running the HVAC systems.

Right.

Because we don’t want that dust particulate- You’ll ruin them.

Getting through your system, right?

And so in certain parts of the year in Vegas, it’s really hot or it’s really cold.

And so that’s another added factor of inconvenience that you’re gonna wanna calculate if you are trying to convince yourself that it’s a good idea to stay in the home during the rental.

It’s like camping in your house.

Sounds fun.

But not in a pleasant scenery that’s with clean air.

Right.

What factors impact the cost the most?

Materials, layout changes, permits?

Generally what we’re seeing, and this kind of goes, and these are rough numbers, it kind of goes for any tier of remodel.

Right.

But it seems like it’s generally about 35% material, about 50% labor, and about 15% of just general admin and overhead.

Right.

To execute that job.

That 35% is a lot of times isolated to your finished material.

So it’s a lot of times not inclusive of like lumber and concrete and things like that.

We’re talking like cabinets, flooring, glass, like slider glass doors, pivot doors.

So you could probably make the argument that if you brought in a lot of your heavy introductory materials, your lumber and concrete, that it’s probably closer to an even split of 40-40 of material and labor.

Right.

And then the rest is captured in just the manpower to execute it.

Yeah, I mean, if you have any questions about the remodel process or about the new build process or about TI improvements, you know, there’s so many questions, there’s so many variables, but the best part is we have answers and we can help out and give you straight answers.

That’s to me the most important thing understanding.

We will answer your questions and we’ll do our best to help out.