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I have a relative on a fixed income who has inherited a family home on a valuable lot, and prefers to live there rather than sell for sentimental reasons.
The four bed rambler is in poor condition and won’t be comfortable for the next 35 years of life expectancy. Two questions: Ballpark budget for a gut renovation? Vs Cost to raze and rebuild? Utilities, sewer etc are hooked up. Relative has the option of selling current home with profit of low 300s to fund project and could stay with local family during raze or renovation. Guesstimates welcome! |
| $350+/sq ft regardless of which option you choose. |
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Gut reno is probably 500+.
Full teardown and rebuild is probably 800+, but realistically closer to $1M at the low end. |
| Remember it's a remodel keep a chimney or wall or however much to make it so. Cheaper permits. |
| We just renovated a house in Arlington. We spent $480K. House was 2000 sq ft. Needed almost everything. New roof, new windows, new HVAC, mostly new floors, all new appliances, all new bathrooms & kitchen, driveway, significant yard work. Repainted outside. Repainted inside. Our contractor has better prices than most because he doesn't charge margin. Project took about 5 months. |
| Adding to above, if we had built new the timeline would have been much longer and the cost much higher. We did not change the footprint, so did not have to comply with the stormwater regs for land disturbance. If you have to do that add 100K at least only for that, plus an extra 8 months to get permits. |
| To build, you probably can't do it for cheaper than about $650k on the very low end. |
Permits alone will take 6 months, plus plans. Remodel is not the way to go. It doesn't pay. |
No. |
I think it took two months to get our renovation permit in Arlington. And our contractor could start on some stuff before we got the permit, like roof and windows, I think. |
Say more? |
New building plans also take forever. But you're missing PP's point - if you keep a small amount of the existing structure, you don't have to deal with the issues that arise with a new build, like complying with current set back rules. |
Great point ! OP: Check to see whether current structure complies with the current set back distances. |
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This our builder. Great experience. Ballpark prices for the semi-custom models are on the website.
https://focalpointhomes.com/semi-custom/ |
This is the PP. Re the concerns about timing, it took Focal Point four and a half months from the time we moved out to when we could move back in. I could be wrong, but I think most/some of their semi-custom plans have been pre-approved by Fairfax County or at least are already in the format to be considered. We had a very ideal lot (gentle slope) and plenty of room so we did not have to try to squeeze a huge house onto a tiny lot. |