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Real Estate
Reply to "Is it cheaper to tear down our existing house and rebuild, or buy a new construction?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Building yourself is cheaper. We had a 1.6m budget in mclean. After looking at homes at that range we ended up buying a 800k lot and building for 800k for a 7000sf house. House appraised at 2.3M. if we bought new construction it would have been 2.3m way out of our budget.[/quote] What builder did you use and were you happy? High, medium or low end finishes?[/quote] IDK when this was, 7K sq,ft home build will cost at least 1.5mil now and that's not high end anything. Your house is worth 2.3mil. For someone whose land now is worth not 800K, but more like 1.2 mil by today's prices your home if built TODAY will cost 400K more roughly. Is it worth it to have a "new" vs. buying your home recently built for 2.3 mil and avoiding the headache of living through a build?[/quote]
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