1. (15 Points) I want to build a vacation home in the mountains near Winter Park and I need your help with a cost estimate (and donations). The homeowner's association (HOA)

has some strict guidelines. The minimum square footage for a single-story home is 1,800sf. The minimum square footage for a 2-story home is 2,400sf. The square footage is measured above ground, basements are not included in the calculation. It must have high-end materials on the exterior to make it seem we're fancy people. There must be multiple roof pitches. Interior finishes are not a concern of the HOA. Dreaming about this home, I want a 2-car detached garage for snowmobiles, dirt bikes and a ski- tuning workshop. I want 4 bedrooms and 3 baths. I would like two big wood stoves (comparable in price to a fireplace). The kitchen should be fancy for hosting spring break parties. I would like an unfinished basement for now in hopes that I'll finish it later. The land is a separate cost and will run $200k. I will also need a well and septic system which cost around $20k-$25k total. The location factor in Grand County is 1.35. I have an estimating guide from 2016 which gives us square footage pricing, but assume an inflation rate of 3%/year (compounded annually). Hypothetically, my budget is $400k. 1a. I really want a 2-story home to provide better views of the mountains. Using the RS Means estimating guides (saved on Canvas), perform a cost estimate for this home. Show all of your calculations and list all of your assumptions. Am I over budget? If so, by how much? 1b. It seems that a 1-story home is more realistic. Perform another cost estimate for a single-story home. Be very aggressive in your pricing and try to get me under budget. If you need to make changes to my dream home, be sure to state your assumptions. You cannot change the HOA rules, however. Show all of your calculations and list all of your assumptions. Am I over budget still? What is your conclusion regarding my dream home in Winter Park?