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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What do we think about this one? $4.6 million.  Interesting that the builder purchased the lot for $1.45M and priced it at first at $4.3 before raising the price to $4.6 after about two weeks.

So much profit is possible the home building. At least this one lists who the builder is.

https://www.redfin.com/VA/Mc-Lean/7011-Elizabeth-Dr-22101/home/9393189[/quote]

Please help me understand if I am missing something.

This builder is well known and actually posts the prices on their website for building various models on your lot. This build looks like it would cost about $1million for just the home if you asked them to build it on a lot you already owned.  (Plus probably some site work costs and permits?) So if the lot costs the builder $1.45M and the house costs $1M to build.

How do they get to a price point of $4.6M?  Is the up charge for a spec home really that significant?  Or are the finishes on this house that superior to what they normally include in their homes.  [/quote]

I am wondering the same.. They list semi custom home plans that range from 800s to over 1 mil.  This one is likely having more luxury upgrades, but I think they are definitely capitalizing on the land price and the area.  I also wonder if someone owns a similar lot in the same area if they would quote a higher price just based on that reason alone instead of just quoting price of construction without trying to make extra profit on land value.  Would the same model cost the same to build in S.ARlington vs. premium part of Mclean given the same size lot and topography?[/quote]

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