Pole Barn House Costs

[waukon]

I'm working on an appraisal for a pole barn house and I'd like to complete the cost approach, but I'm having difficulty finding this information in Marshall & Swift as it isn't a typical residence. Maybe I'm just missing it, or maybe someone has experience in this and can give a suggestion. Pole barn homes are becoming more common in this area, typically the living area is equal to or less than the area of the "garage" and there is no basement utility as the building is constructed on a slab. In this case, the subject has a GLA of 2,500sf and garage space of 2,500sf. The building itself is 50 x 100. Any help or suggestions would be greatly appreciated. For those that are unsure of what I mean when I say a pole barn house, I've attached a photo. Basically, it is a pole barn where a portion of the building has been converted into living space, in this instance the interior living area finish would be typical of an average quality newer construction home, with the exception of 12' ceilings.

 

[CANative]

Is it from a kit?

 

[waukon]

No, this is not a "kit" house, it was stick built on site, but it is still the general pole barn style of construction.

 

[Walter Kirk]

Are the sidewalls conventionally framed? If so I would think that low quality costs for slab on grade construction could be used.

 

[waukon]

Yes side wall are conventionally framed. I'll try to break this out using segregated costs for the slab and interior finish and an estimate for a standard pole barn that fits my dimensions.

 

[Sid Holderly]

Use the $/unit cost in Marshal & swift as a guide. Such as x $/sf for insulation, Y $/sf for interior finish (like finishing a garage of attic). Local costs for concrete /sf. Some larger pole building builders have on-line prices. Menards has published basic building package costs for the base pole building. Add windows and doors as needed, paint etc.

It takes time but much of this $/unit costs can also be used in REO work along with other rural area appraisal needs.

 

[waukon]

Thanks Sid, that's pretty much what I ended up doing

 

[Michigan CG]

It is possible to come up with a COST NEW of the structure however, coming to a conclusion in a Cost Approach would include deriving the external obsolescence and the functional obsolescence of the structure which IMNSHO would be challenging at best.

I am also guessing this is on a large acreage which adds additional static to the report. If anyone thinks this goes on the secondary market they are smoking something us Iowa folk call "ditch weed".

BTW, I still maintain my Iowa license.

 

[Terrel L. Shields]

I see an awful lot of them in E. Oklahoma. They typically cost about $10 to $20 LESS per SF than a conventional slab and frame. They are not that bad but are post and frame with floating slab foundation. The brick one below cost $55 a SF when a conventional one like would have cost $62 and as far as I can tell they do not suffer a functional obsolescence nor are they hard to market in that area.

Note the one is metal clad and built just like the detached garage. Inside it is indistingushable from any other lower quality house. The frame is 4" x 6" turned sideways to make a 4" wall, with the posts about 4' apart. Interior walls are supporting. The brick one below was built by the owner and he and his father do that in about a 15 mile radius of their home.

 

[Restrain]

We even see metal buildings used as homes as the cost/sf is so much lower than conventional construction and construction time is quicker. Conversely, log homes are becoming fewer and fewer due to high costs vs market return as well as problems with log deterioration, log settlement, etc.