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Reply to "Come along as we build our custom home- lessons learned in real time."
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[quote=Anonymous][quote=Anonymous]Folks, OP bought land, not a tear down. So the 600K that would have gone to buying a house to tear down is being reallocated to actually build his/her home, cover architect costs, engineering, permits, septic, well, etc. [/quote] Tear down homes go for a price of land, they are rarely rehabbed and rarely bought by families wanting to live there. What qualifies as a tear down depends on an area, its growth and prices. In our area older homes in fine move-in condition often go as tear downs because new homes are now around 4 mil. Older "tear down" would be over 1 mil as a result, and if you get more it's because your lot is bigger and not because your old house is remodeled and move-in ready. Bigger lot=higher price even if the house is in much worse condition. There aren't many open lots that don't have structures on them in some areas, these are unicorns in inner beltway premium neighborhoods. [/quote]
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