Is Kiawah Island real estate really a bargain?

Kiawah Island found most cost-efficient in craftingsuper-luxurious house •

Foot for foot, an opulent Charleston area oceanside community offers the best deal when it comes to constructing an ultra-luxury beach home.

That’s according to a survey by Chris Pollack Ltd. of 10 top summer vacation destinations in the United States and nearby. The company describes itself as a “high-end real estate development advisory and owner’s representative” group.

Kiawah Island was the lowest cost in terms of construction per square foot at $450 and project cost per square foot at $585. By comparison, construction on highest-priced Hawaii is $950 a square foot and project cost is $1,300.

“Our study provides the high-net-worth individual with a unique window into what it actually costs to build second or summer homes in some of the most desirable locations in America,” says Chris Pollack, founder and president of Chris Pollack Ltd.

This is the company’s first study of the most cost-effective places to build a luxury summer home, he says.

“In compiling this data we looked at not just construction costs, but overall project costs as well, which includes everything from building materials, architectural and consultant fees and even permitting, adding to the square footage cost by an average of 30 percent,” Pollack says.

“High-net-worth buyers should be aware that not only do land prices vary from location to location, but so do construction and consultant costs,” he says.

Other markets and prices were Malibu, Calif., $900 per square foot construction and $1,170 a square foot project cost; Palm Beach, Fla., $850 and $1,105; Hamptons, N.Y., $850 and $1,105; Caribbean, $800 and $1,040; Miami, $750 and $975; Nantucket, Mass., $750 and $975; Cape Cod, Mass., $500 and $650; and Lake Geneva, Wis., $475 and $618.

According to the Pollack study, “value engineering” has lowered costs of the projects by 30 percent even as labor expenses on average are up in the markets by 13.8 percent from 2007.

Among the examples of value engineering are using PEX (cross-linked polyethylene) tubing in place of copper and utilizing a blend of traditional fiber glass insulation and spray foam, which both save money, he says.

Also, by taking advantage of tax incentive programs and using green building products such as geothermal heating systems, the company’s clients have cut cots while making investments towards environmentally friendly homes.

“Our summer home analysis provides a spot look at the high-end market, keeping clients abreast of the best locations based on an equalizing of per square foot costs,” Pollack says, noting that the study is the first of seasonal analyses to come.

This article was originally published in The Post and Courier.


The following are actual figures given by folks who have built on Kiawah Island.

"The number we saw last year was north of $300 sq. ft. and that was when there was much less activity.  Amazing number in my view; for that you could have (almost literally) gold plated fixtures in Houston."

"Fred it trulydepends on what you put in your house..Can range from $300 to $500 depending on your specs.."