Building Costs – What to Expect

Owning a lot is only the first step towards sipping a Long Island Ice tea or enjoying some of PEI’s Craft Beers on the finished deck.

Long Island Ice tea. Anyone ?
Craft Beer – it’s Warm Outside!
2018 C21 Price/Square Foot ($/sf) Survey - ALL Sales INCLUDING LAND.
2018 $/sf Survey
Including LAND

Building activity in the last few years has been brisk on PEI and finding a builder may be an adventure. Doing your homework and finding a good builder will result in years of satisfaction and enjoyment. Price is always a factor, but may not be the prime motivator for choice. Century 21 evaluated sales across Canada (both new and existing stock) to arrive at a Cost per Square Foot measure for cities across the country. Costs were for sale prices for all homes and INCLUDED land. Charlottetown costs were at $196/sf for the homes sold in 2018.

For calculation purposes, say the lot is $50,000 and the average home is 1600 sq. ft. At $196/sf a sale would be at $313,600 . Deduct $50k – $263,600/1,600sf = $165/sf (same as $50,000/1600sf = $31.25/sf deduct from $196/sf ) In this example, $165/sf cost would be for the home alone. Since the C21 results are for the entire housing stock, newly constructed homes would have a higher cost for the home. This agrees generally with 2019 ball-park estimates that NEW home construction on PEI is in the range of $200 per sf. This is influenced heavily by the quality of finishings and interior decor, but provides a starting point to evaluate estimates. Here is a link to the Century 21 study with results across Canada (PDF Format) . NOTE again, the study home costs per sq.ft. INCLUDE LAND.

For those considering a lot purchase, keep in mind the total costs at the finish line. A drilled well will add up to $10,000 and even $20,000 to the final total. In Granville on the Water, you do not have this cost, as piped water is distributed throughout the subdivision. Together with underground electrical services, value and quality is elevated in the neighbourhood adding to peace of mind.

Home under construction in Granville on the Water early in 2019 … loving the view !

There are a number of ways to find a good builder on the island. Word of Mouth and recommendations from known friends, family, and regular acquaintances is usually a good way to avoid problems. That should find you a good builder, but perhaps not the best or not on your schedule ? As homes represent the biggest investment most people ever make, take your time to find the right builder …. check out past owners and their reviews and comments. Look at the product built by the builder and inspect the workmanship and quality that was put in place.

A few links to review for Builders and Suppliers :

GOTW – Origins of Homeowners Association and Water Utility

The Granville on the Water neighbourhood was started in the mid-2000’s. A Homeowners Association was registered, a Water Utility was registered and a pumphouse built with 2 wells, and the roads and common areas, as developed, are turned over to the Granville on the Water Homeowners Association Inc. (GOTWHA) The Granville on the Water Utility, Inc. that supplies drinking water to the lots is owned by the GOTWHA.

A document highlighting the By-laws and origins of the two companies, as well as the covenants and the neighbourhood governing documents for all owners may be downloaded by …..
 
Clicking this link to the GOTW Owners Info document.
(PDF opens in new window – 6.6MBytes)

Comments are welcome.

Finding Your Way : GOTW Phase Maps & Dimensions

Mapping of the first three phases are shown. Click images to link to large format PDF files with dimensions and details.

Phase A – GOTW

Click images to link to Large Format PDF of Phases in GOTW. Close Opened Window to return.

GOTW PhaseI Plan - Click for lage format PDF in New Window.  Close WIndow to return.
Phase A – GOTW : Approx. 2005 : Lots A01 – A20

Phase B – GOTW

GOTW Phase II Plan

Phase C – GOTW

GOTW Phase III Plan

Finding Your Way : GOTW Lot Dimensions

Owners in Granville on the Water are blessed with large lots that are a minimum 1 acre in size. (a couple are just shy of an acre … others are up to 3.2 acres !) . For reference, here are street frontages ( feet ) and the Lot Sizes ( acres ).

To the right is a Plan with Phase A, B, C … click for larger image in New Window – Close window to return.

Granville on the Water Lots (sold)

Dimensions on the Lots that have been sold in GOTW in Phases A and B and part C.

LOT #PIDFront
Feet
Area
Acre
A 0198477396.31.03
A 021001767105.01.27
A 03991950107.21.59
A 04932848232.91.26
A 05937409212.01.04
A 06945733166.71.79
A 071067982134.51.25
A 08100120583.50.95
A 09100121358.31.24
A 10100387050.31.43
A 1199164650.31.99
A 1294571750.61.67
A 13932558188.41.56
A 14927475181.41.75
A 15932830202.61.93
A 16937870213.11.95
A 17934695169.01.90
A 1894714507.91.16
A 191103456614.71.11
A 201001221324.21.44
B 011000827192.01.78
B 021000686192.01.63
B 031011535192.71.79
B 041076447193.01.86
B 051067982191.21.94
B 061095462195.72.03
B 071097583222.02.44
B 08998849198.42.75
B 091099555288.03.24
B 101091271211.31.44
B 1194714171.91.12
B 121006576228.81.13
B 131103977236.71.13
B 14998757242.91.13
B 151016047182.71.13
B 161018704176.70.97
B 171018712204.51.16
B 181018720196.61.30
B 199471497.11.36
B 209471488.21.27
C 011019314271.31.85
C 031091263562.81.26
C 061065457234.11.28
FeetAcres
Sum8719.466.30
Average202.81.54
Median192.71.43
Max614.73.24
Min50.30.95
Without 9471461.39

Developer Lots - Phase C

These lots have been registered, but may be altered to accommodate changes to Road routings to improve grades. We will have these updated as design changes progress through 2019.

LOT #PIDFront
Feet
Area
Acres
C 0294714297.22.02
C 049471474.51.65
C 0594714237.61.18
C 0794714192.60.90
C 0894714209.31.37
C 0994714249.41.31
C 1094714200.01.20
C 1194714200.01.19
C 1294714200.01.19
C 1394714200.01.19
C 1494714247.01.18
C 1594714422.71.02
C 1694714202.31.05
C 1794714197.71.16
C 1894714195.11.51
C 1994714231.41.51
Sum3556.920.63
Average222.31.29
Median201.21.19
Max422.72.02
Min74.50.90