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[quote=Anonymous]This is a new sub with 12 new houses.  This one is asking for 1.715 (start at 1.64 last Dec):http://www.redfin.com/VA/MCLEAN/1657-PERLICH-St-22101/home/42085536

I am wondering how much the profit is?

Whenever I watched HGTV about houses in TX (Houston mostly, austin, etc), $400k to 500k could get you a fancy mansion (probably 5000 sqs) with all the looks-like high end finishes in the kitchen, bedroom, bath and basement.  That makes me think that the cost should be less than $100/sq if excluding very cheap land cost (not sure how much).  And they still make some money, maybe good money, right?

So, here in NOVA, why the cost (just the cost to build the house) is so high......people saying well above $150/sq for so good quality (not even high-end) finishes?

If I assume the tiny little land (and other fees: permit, documents, foundation, etc)  for this house is $400k - 500k (which I double, because they bought a large piece of land for 12 homes, then it should be very low for each piece), and if the cost to build is $150/sq, then this house might be cost 1.3 - 1.4 M, and the profit might be $300k to $400K.......that's good business!

Is there anything wrong with my assumption?

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