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Old 03-22-2018, 02:11 PM
 
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Quick question for all of the experts out there. I may buy a property for the express purpose of flipping, but the house is so bad, although currently occupied, I'm thinking about having it torn down and rebuilding from scratch. My question is, how do I know which would be cheaper before I put in an offer? I was told buy a builder that typical tear down is not more than $3k. Thanks in advance
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Old 03-22-2018, 02:35 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,544 posts, read 50,970,457 times
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It depends on where you are.

That's really cheap, but may be accurate in your area. Here, for a small teardown it would be more like $18,000. Our average cost to build a residential house is over $250-300/sf, if you can even find a contractor willing to take on what would be considered a "small" job. They are all busy replacing small homes with 3 story condos or building high rise apartments or doing developments of 4,000 sf homes.
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Old 03-22-2018, 02:37 PM
 
5,341 posts, read 5,255,103 times
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Quote:
Originally Posted by Hemlock140 View Post
It depends on where you are.

That's really cheap, but may be accurate in your area. Here, for a small teardown it would be more like $18,000. Our average cost to build a residential house is over $250-300/sf, if you can even find a contractor willing to take on what would be considered a "small" job. They are all busy replacing small homes with 3 story condos or building high rise apartments or doing developments of 4,000 sf homes.
Holy Crap that's expensive! I escaped the west coast, LA to be specific 11 years ago for the Carolinas, which is now booming. Build cost per sqft here is under $100. Thank you so much for your response, by the way.
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Old 03-22-2018, 05:15 PM
 
3,154 posts, read 2,665,999 times
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Quote:
Originally Posted by Sophiasmommy View Post
Holy Crap that's expensive! I escaped the west coast, LA to be specific 11 years ago for the Carolinas, which is now booming. Build cost per sqft here is under $100. Thank you so much for your response, by the way.

I haven't seen a cost like the under $100/ sq ft you quoted in about 15 years. Is that a turn key package or maybe just the basement/foundation and rough framing/finish?
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Old 03-22-2018, 06:18 PM
 
Location: Portland, Oregon
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If the guts can be salvaged a re-build is cheaper than a tear-down. There are likely lots of conditions that would be grandfathered in a re-build while with a tear-down you start from today's code 100%. You really need to talk to your local building department.
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Old 03-22-2018, 06:25 PM
 
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Really depends on what’s there now.
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Old 03-22-2018, 07:08 PM
 
Location: Columbia SC
8,020 posts, read 6,796,830 times
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Quote:
Originally Posted by Wells5 View Post
I haven't seen a cost like the under $100/ sq ft you quoted in about 15 years. Is that a turn key package or maybe just the basement/foundation and rough framing/finish?
Lookie here:

https://www.mungo.com/Columbia/Lexin...Park/new-homes

In a very desirable Columbia suburb known for good schools.
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Old 03-22-2018, 07:45 PM
 
Location: San Diego / NWA
984 posts, read 571,536 times
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Quote:
Originally Posted by Sophiasmommy View Post
Quick question for all of the experts out there. I may buy a property for the express purpose of flipping, but the house is so bad, although currently occupied, I'm thinking about having it torn down and rebuilding from scratch. My question is, how do I know which would be cheaper before I put in an offer? I was told buy a builder that typical tear down is not more than $3k. Thanks in advance
I'm sorry, but if you don't know the answer, then how do you know if you will make money by flipping it?
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Old 03-22-2018, 08:34 PM
Status: "Summer, please don't leave!" (set 26 days ago)
 
Location: Asheville, NC
11,503 posts, read 25,807,415 times
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Quote:
Originally Posted by Wells5 View Post
I haven't seen a cost like the under $100/ sq ft you quoted in about 15 years. Is that a turn key package or maybe just the basement/foundation and rough framing/finish?
She is correct. We live in the same area. It's everything from the foundation up, turnkey. Just not the land, infrastructure and clearing/grading.
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Old 03-22-2018, 08:35 PM
Status: "Summer, please don't leave!" (set 26 days ago)
 
Location: Asheville, NC
11,503 posts, read 25,807,415 times
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Quote:
Originally Posted by beckycat View Post
It's everything from the foundation up, turnkey. Just not the land.
Call the local fire department to see if they'd like to use it for a practice run. It won't cost you anything.
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