Smaller lot same model for same price as larger lot? (how much, house)

[lets_hope_for_newbruns]

Smaller lot, same model for the same price as larger lot?

I went to see a new development and have a question on two properties that i am interested in.

One of the 2 lot has a home standing with most of external work done and costs for example 100k with lot size 69 * 100. The Closing date is 3 months.

The other one is also 100k with lot size 65 * 100. closing date is 7 months.

I asked , how can you sell the two at the same cost when the second one is a smaller lot. Atleast 400 sq feet land difference. And he says 100k is building cost and he won't reduce the price.

I cannot tell which lot is better as i did not take a look at it, but it is 2 blocks from the first one.

Can they really sell this way?

Should i negotiate to bring the cost down? If so by how much?

I was thinking if that 100k includes 60k building cost then 40k is land cost for lot with 6900 sq feet . Then price per square feet of the land is $5.79

therefore 400 sq feet should cost $2,318. and therefore I must negotiate $2,318 off the price of $100k . i.e ask for $97,682

That was just an example, If land cost is 5 times our estimate of $40k, then the number works out to be $11,000 approx. And that is so significant.

Please advice.

[clevedark]

You really have to go take a look at it. Prices for land vary according to the qualities it holds--location, levelness, placement of house, privacy, etc.

[Older&Wiser]

If the builder paid the same for both lots then the prices for both should be the same.

[FlyersFan]

Originally Posted by clevedark

You really have to go take a look at it. Prices for land vary according to the qualities it holds--location, levelness, placement of house, privacy, etc.

This is all true and you also have to consider if its a corner lot, a lot at the "low end" of the development where there may be more drainage, is it a lot near an undesirable location like a retention pond ???

[lets_hope_for_newbruns]

They both have no advantage really , so I am not sure why he insists its the same price. I thought 400 sq feet less land is quite a portion to ignore?

Since its planned development single family homes, do the land cost the same no matter if the lot is 10000sq feet or 6500 sq feet is that? The homes being build vary in size from 2000 sq feet to 2700 sq ft on them... But as I mentioned earlier, the same model is being build on top of the land hence I wasn't sure.

[Sergio M]

My advice to you is to take a look at the properties, See which one you like better, then offer what you think it is worth to you, if it is accepted, great, if not, you can alway change the offer to make it more acceptable. Good Luck.

[lets_hope_for_newbruns]

What is a good negotiating price for a town lake community . The asking price is 475k with 25k in upgrades provided for a brand new SFH (4br 2.5 bath , unfinished basement, 2023 sq ft). How much should I offer considering theere is no waterfront view, I have to walk 10 minutes to the river? I have never negotiated on Single family homes. I have become quite an expert on town homes. The house is good quality if not excellent. I know that such homes should not be listed for $369k-$415k in a town with middle class and decent school. So if you add 50k for amenities still works out to $419k-$465k.