Reply to How do teardowns work, and do they really 'work'?

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[quote=Anonymous]I just got a copy of "Arlington" magazine delivered to my house this week (never heard of it before!) but there the cover story was about teardowns/renovations that end up being the biggest/fanciest house on the street.

I know several people who have done teardowns in Arlington - the trick is to find a house to tear down. It needs to be on a big enough lot that once you tear it down you'll have the room to build whatever it is that you want, and it also needs to be kind of a dump so that you can afford the land/house in the first place.

Land is worth more than house (especially old house) in Arlington so that means larger lots in more desirable neighborhoods (as you go north) will be more expensive, even if the houses on them are real dumps.

Ramblers are often  good teardowns because they lack the charm of colonials or capes. But I think you will have to be very luck to find a decent lot/teardown home for $550k or even $600k in N. Arlington. And once you end up paying for the new house you'll be at a million easy.[/quote]

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