MoCo - Can you have new construction on a 600K budget (land included)?
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Anonymous
| We have a budget of about 600K (could go a little higher, up to 700K). I don't want anything huge, but something around the area of 2500-3000 sq feet. We know we're priced out of close in suburbs, but how about a little farther out? Maybe Olney/Brookeville? Is it doable? Are we better off just purchasing a fixer upper and doing a major renovation? |
Anonymous
| I've seen some posted recently on realtor.com in Silver Spring (far outside the Beltway Silver Spring). I'm not sure if the houses are already built or what- but search there. The prices were under $700K. |
Anonymous
| I saw your title and laughed to myself. But if you're interested in olney, I think it's possible. Especially if you're ok with lower end finishes. If you want closer to 2-2.5k sqft an are ok with carpet upstairs, it's probably doable. I've seen some new construction off muncaster mill near Georgia (technically Rockville, I think) and I would imagine they are in that range. |
Anonymous
| I don't think its laughable. I'm hoping to do the same. I've looked at a few lots so far, but location is not ideal. We want to build in MoCo, but husband works in VA.... trying to figure out a good location that would not jeopardize my 10-minute commute! |
Anonymous
| Go modular. You'll be AMAZED what you can get for that amt. |
Anonymous
Not the OP, but can you recommend any modular home companies? We already have a lot with a house on it that needs to be torn down. |
GreytPets
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| I researched modular for my house and ended up going stick build. It was cheaper in the long run. You can still build a house for $100-125/sf. Note that in Maryland houses have to have a sprinkler system, so that adds to the costs, and it it's just land you also have utility connection fees and the banks want at least 20 percent down on the land. I bought a house in Virginia and tore it down. I have a great lender who you can use who was awesome (is in Maryland). Shoot me a PM and gladly share my experiences. As a note: I work in commercial construction management so I knew the business and the process and will gladly share this info with others. |
Anonymous
|
Not sure if you're looking to build your own design or what, but these are being built in Four Corners in Silver Spring:
http://www.redfin.com/MD/Silver-Spring/415-Gilmoure-Dr-20901/home/12357415 Not my style, but within your budget and your size. The neighborhood is very friendly and family oriented. |