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Well, the OP has posed a question with so many "it depends" and so few facts that silly answers to a silly question are the only ones that make any sense. Put me on superdoublesecretprobation if you want.
Well, the OP has posed a question with so many "it depends" and so few facts that silly answers to a silly question are the only ones that make any sense. Put me on superdoublesecretprobation if you want.
Seriously-
The Delta Tau Chi was a great fraternity! Fictitiously speaking.
This seller recently spent over $250K for a house which would be perfect for them since they are single, no kids, over age 70 and the house is 1800+ square feet and fully concreted driveway to an enclosed garage at the back.
In this market I'm not sure why they would spend the most they have ever spent on a house to be flipped. I was hoping they would plan to live there and that would free up the house they might sell.
If this is a flipper I'm disappointed since this one they bought a few months ago surely has everything they could want in a house and would remove their idea of building their own brick house. Trying to flip one that expensive when they have never paid over $145K for any of their flippers is curious. Pass up such as nice house when the materials and labor are already paid for vs. building themselves another brick house for likely way, way over the $250K.
I was going to build when I moved to New Mexico. I bought my 1/2 acre lot. I was going to be a "pioneer" in that area -- no close neighbors. It had all utilities except water and sewer so I needed a well and a septic system. I had plans drawn up and looked forward to getting started. My builder was quoting prices that kept going up. The cost of wood was soaring. Everything was going up. There was no guarantee on drilling a productive well. The last straw was the "engineered dirt" that would be needed -- truckloads of dirt. I had plenty of dirt. With the economy in recession, my builder suggested that I look for a resale house as there were a lot of homes on the market.
I found a custom-built house that I liked on 1.3 acres that was about ten years old. It was slightly smaller than what I was going to build (by 200 sq. ft.) but was nicely laid out. It had more bells and whistles than my planned house. It was perfect for one person and was at least $100,000 less than what new construction would have cost. My builder inspected it and said that the house could not be built for the asking price. I have more land, front and back walled courtyards, and only one adjacent neighbor. The land butts up against a small arroyo in the back so there will be no close rear neighbors. The view is down-slope toward the Rio Grande and across to the Sandia range. I enclosed a portion of the rear covered portal/porch for a small office. It had a well and septic system in place, a new roof, and a new evaporative cooler. Heat is thermal with a boiler with hot water piped in the floor. That system has required some maintenance over the last few years.
Of course the homes were not identical but this situation reflects more of the reality of the question of 'building vs. buying'.
I was going to build when I moved to New Mexico. I bought my 1/2 acre lot. I was going to be a "pioneer" in that area -- no close neighbors. It had all utilities except water and sewer so I needed a well and a septic system. I had plans drawn up and looked forward to getting started. My builder was quoting prices that kept going up. The cost of wood was soaring. Everything was going up. There was no guarantee on drilling a productive well. The last straw was the "engineered dirt" that would be needed -- truckloads of dirt. I had plenty of dirt. With the economy in recession, my builder suggested that I look for a resale house as there were a lot of homes on the market.
I found a custom-built house that I liked on 1.3 acres that was about ten years old. It was slightly smaller than what I was going to build (by 200 sq. ft.) but was nicely laid out. It had more bells and whistles than my planned house. It was perfect for one person and was at least $100,000 less than what new construction would have cost. My builder inspected it and said that the house could not be built for the asking price. I have more land, front and back walled courtyards, and only one adjacent neighbor. The land butts up against a small arroyo in the back so there will be no close rear neighbors. The view is down-slope toward the Rio Grande and across to the Sandia range. I enclosed a portion of the rear covered portal/porch for a small office. It had a well and septic system in place, a new roof, and a new evaporative cooler. Heat is thermal with a boiler with hot water piped in the floor. That system has required some maintenance over the last few years.
Of course the homes were not identical but this situation reflects more of the reality of the question of 'building vs. buying'.
Yes thanks.
It wasn't their pattern of flipping to spend $250K on a flipper. They have decided it will be their primary residence.
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