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Buy a property with a house on it or buy a property and build a house? Which is best and most affordable?
- Thread starter testdepth
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If you are building, your GC is going to be your best friend and you better trust them!
But, typically a "used" house is cheaper then building a new one.
But, typically a "used" house is cheaper then building a new one.
Personally, I would build unless I got a smoking hot deal on something I could live with. I am talking about the Gilmer area for the following. It used to be about $150 a square foot to have a modest home built here about 8 years ago. Now it seems to be $300-350 a square foot, of course you can go crazy with expensive everything and spend more. One of the biggest costs of building is the labor costs. So, if you can do a bunch of the work yourself, you are going to save a bundle. Time is something else to consider, in a hurry, buy. Not in a hurry shop around and get the best for the money subs and build.
What builders are you using?
Average, "builder grade" home is still around $175/$200 a Sqft most anywhere I do business in.
I just priced out a 22x24 garage unfinished interior and it was about $47,000 to $50,000 . Pretty basic . Without a GC . Prices are horrendous .
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I can't conceive of building anywhere close to the price you can buy existing inventory, for like quality in this market.
Completely depends on what's on the market at the time you're buying. An existing house is always gonna be better if there's one available that fits all your needs. A lot less headache not having to deal with building codes, zoning, potential supply or labor shortages. And most likely gonna be much cheaper.
But if there's nothing that fits your needs on the market it's a given to build what you want where you want it.
But if there's nothing that fits your needs on the market it's a given to build what you want where you want it.
Wait till you start pricing a build. You will end up wanting to buy one on the market.
It was an enormous pain in the ass. I don’t think it saved me money. However, it’s pretty much what I had to do to get a house on some land in the area I wanted to be. If I could have bought what I wanted already built it would have been infinitely easier.
