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Old 11-04-2006, 06:42 AM
 
Location: FL
1,943 posts, read 7,880,276 times
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I would like to do this in either in the city of Greeneville (not just green county), Knox County, or Blount County. I would like to spend from any minimum amount to about $160K.

I was wondering if it would be more doable to find a pre-existing home with a view of a mountain, or on a mountain, or lake access for that price (I know the lake access is probably not obtainable)...or if I might have a chance to buy land with either a mountain view, on a mountain or lake access, pay for what it takes to clear the land if need be, run all of the utilities there, build a 3 bedroom house (doesn't have to be log-but that would be nice), for about $160.
Can anyone help with this?
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Old 11-05-2006, 09:07 PM
 
Location: Beautiful East TN!!
7,281 posts, read 19,279,502 times
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Hi mrshvo,
My suggestion would be to purchase a pre existing that has close to everything you are looking for in a house then add on what is missing. My perspective is from a professional one as a mortgage broker. I have seen many construction projects go over budget, some WAY over. The stress involved for the homeowner is sometimes very high and frustrating. Many have said after the fact that they wish they just bought a pre existing.
For over all cost, I believe you can get more for your money with a pre-existing. Now if you are looking to buy in a development that is in the construction phase, you some times can get a contract on the home, pending completion and get to choose things such as carpet/wood floors, cabinet styles, do some upgrades compared to what the contractor has planned and such without having to go through the hassle of a construction loan....and yes, they ARE a hassle and not always cost effective in the first few years. Just a thought. Hope it helps.
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