| 09-15-2011, 11:10 AM | #1 |
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Buy or build for home purchase?
Sold my previous house in 2009. I plan to start shopping for another house to buy next year.
I would love to have something built vs buy someone else's, but am wondering if that would be cost-effective. I wouldn't be trying to build my dream home or anything crazy. If I buy something already built again, I don't want to buy anything too old. I would like to buy something built within the last 10 years. However, I would still look at older homes. I like modern looks, interior, amenities, etc. Gotta have central air, forced air heat, blah blah. In today's market, how does having something built compare to buying something already built? |
| 09-15-2011, 11:14 AM | #2 |
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This varies greatly by location. If you're in a heavily developed area (southwest CT, Boston 'burbs), you may have a hard time finding a suitable piece of property on which to build. If you're in rural New Hampshire, Maine, or VT, this won't be an issue at all and you should be able to build for a very reasonable price.
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| 09-15-2011, 11:15 AM | #3 |
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Not sure where you are located bc i am responding from my phone, but in todays market it is almost always cheaper to buy something existing rather than build. Unless you buy a "track home" in an existing community where the builder is offering some strong incentives to build.
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| 09-15-2011, 12:12 PM | #5 | |
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| 09-15-2011, 04:00 PM | #6 | |
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obviously this greatly varies |
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| 09-15-2011, 07:16 PM | #7 |
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really depends..
like for me, it will cost me about 150-200 per sq feet to build something, give or take but you can buy homes at around that, so no need to go through the effort the thing is though, i recently bought land with the intent to build..but not with the intent to build and sell. I have yet found a home that I love. Thus, I feel that building my dream home is the best choice for me. I will take it slow...probably 3-5 years for all I know, but I'm not in a rush. Hell, maybe by then the market will boom lol i got the land for $10/sq foot, and i like the location, so it worked out in my favor... but you really need to see if there is any good land out there that you want to build on
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