Buy a property with a house on it or buy a property and build a house? Which is best and most affordable?

[Rolling_trip]

Can’t offend me. Star mark this thread and let’s circle back in 5-7 years.

Renting better than buying/owning?

We built in 2020, using a “Custom home builder”. We spent $50k of the loan on site fees(clearing), due to the heavy vegetation and large trees. We signed our construction loan on September 2019, they broke ground in early February , and we moved in October 2020. Keep in mind, this is a ~1700sqft Ranch home with an attached garage. We did do premium upgrades to the flooring, granite countertops, cabinets, and bathrooms. I will advise to have an extra 10-15%, on top of your down payment, available for the “oops someone screwed up”. After being told 3 times we had access to water by the county, I had to come out of pocket for a well….

 

[GFB]

I will advise to have an extra 10-15%, on top of your down payment, available for the “oops someone screwed up”.

20-25% would be safer

 

[basstracker89]

Can’t offend me. Star mark this thread and let’s circle back in 5-7 years.

I think I have an idea what you're up too. It's all a prospective game.

 

[ExplicitBoricua]

Shot. I want to find some property up in Lumpkin or Dawsonville and slap a Fleetwood or Clayton on it.

 

[olerambler]

If you have your own house built be very careful to not sign a ****ty one-way contract.

Research the builder too over last few years saw some real shoddy carpentry work. It’s crazy what building supplies are going for.

 

[olerambler]

Shot. I want to find some property up in Lumpkin or Dawsonville and slap a Fleetwood or Clayton on it.

No cheap land in N Ga anymore

 

[edman99]

Finding a GC that you can trust and knows what he's doing will be a large part of your effort. As stated above, he will be worth a premium.

 

[Russ-T]

About 6 years ago I bought a house that was nearly condemned. Great Midcentury brick house. We completely renovated it before moving in. It took a year. I was "acting" GC. This turned out to be a great option. The house was solid, the "remodel" was what we wanted and we're very happy in the end.

 

[ReelWizard]

typically a "used" house is cheaper then building a new one.

I wouldn’t even consider building a new house anymore. after doing several remodels in different houses we have bought/owned.
Why?
Quality of work,expense,frustration,anger,quality of materials is garbage and the people doing the work match it.

I wouldn’t even consider building a new house anymore. Nope

 

[THREEJAYS]

I agree with find an existing home and land and make it work. Can always add on take off to change it to your wants. Good luck