Is Building new Home always cheaper than purchasing an existing home?
Love stone homes
5 years ago
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Cost to build - why so much higher than buying new house???
Comments (40)There is another factor that no one has touched upon. I am a Plumber and I have spent many years earning a reputation amongst the local builders and plumbing inspectors as being a stickler for detail, to the point that often an inspector comes on the job site and when he or she sees me standing there they barely go through the motions of an inspection, relying upon the fact that they know my work. In return, I can command top money amongst the builders and I am still in high demand because they know that I will get the job done on time, in budget and have no follow-up problems. Along comes Mr & Mrs gotlotz acting in the stead of a competent GC and they immediately begin giving me attitude. NO problem. The first thing out of their mouth is that they will not settle for the quality of work we do on tract homes. Fine with me, never let it be said that I cheated you out of your bragging rights, I just add an additional 10 or 15% aggravation fee for putting up with the attitude. The quality of the work speaks for itself....See MoreCheaper to build 1 or 2 story home?
Comments (27)"As a physician - I would like to point out that a good way to stay young is to climb stairs. I know - but I just had to say it. Avoiding exercise is the absolutely worst way to grow old gracefully. Making your world all about fewest steps from bedroom to garage to get in SUV and drive whereever is not really an ideal to strive for. Just a thought." First let me say that this is the first time I've posted anything (just joined this evening) so I'm not certain I'm doing things as they should be done, but I figured nothing ventured, nothing gained. The quote is from a comment made by a physician named David Cary several posts back. We're looking for a house currently; I don't think we can afford to build at this time and we don't have the luxury of waiting, but we're dealing with the issue of whether we're better off looking for whatever footage we can afford on one level, or whether to consider one with a basement, or whether to go two story. We're around 50 years of age. My dad will be living with us, too, and he's 90. My fiance has knee and back issues. Doctors claim I'm sporting arthritis from stem to stern, top to toe. I've seen the films and tests and have to accept the presence of several ruptured/bulging discs. And time has proven the fibromyalgia diagnosis apparently is true as well. For all that, I'm still a high-functioning individual! I'm not as fast as I used to be, and I can't work as hard as long as I used to, and nothing happens without a pretty hefty dose of pain to go with it, but I have no intention of going non-functioning until I go non-breathing. Having laid that groundwork, I'd like to know if the points laid out in the doc's comment above are still applicable. As long as Dad is all on the ground floor, is it better that we think two story to force us to keep at the stairs? Or is it better to remember that with our personalities, we'll stay active on our own; why not save whatever our bodies will handle for what we want to do, rather than "wasting" whatever we've got on the barest basics of living? Did any of that make any sense? I hope so, as I'm really interested in whatever insights any of you are willing to share with me on this. Thank you so much!...See MoreHouses cheaper than cars in Detroit
Comments (13)I moved to the Detroit burbs in 2002 after living in the Atlanta area for two years, Milwaukee before that. Everyone warned me about the Detroit. I have to say that it is much nicer living here than the Atlanta area. I'm from the north, so the weather doesn't bother me. Detroit has similar population to Atlanta, with about twice the infrastructure. Makes getting around so much easier. The people are friendly, recreational opportunity abounds, culture is far more advanced than Atlanta, schools in most communities are great. Disadvantages are taxes, and frankly, the city of Detroit, which is decrepit despite what UV noted above. As with any older northern city, there is an effort to revitalize, but Detroit doesn't have the money to do it, and the citizens AS A WHOLE don't seem to care. UV is correct in that some of the surrounding burbs are falling into that same trap. However, because of schools and less crime, the burbs are more desireable for most families than the City of Detroit. Having said all that, it is very sad to see our property values stagnant and declining. The housing stock here is incredible. At some point in the not too distant future, companies will recognize the breadth of talent that is available in this area, at a bargain. People will also realize that RE is more affordable here than any other similar sized area in the country, again making Detroit a desireable area to move to. Unfortunately, it will take the shake up of the traditional entitlement driven manufacturing sector to accomplish that. No longer will people be able to expect $75/hr in wages and benefits as they've become accustomed to. I have a friend who was laid off from a supplier last year. He's lucky to have found a great job, but at the age of 35, this is the first time he's ever had to pay a premium for health insurance. Just wild. The City of Detroit will require radical changes to bounce back. Families will not move back into the city until citizens take ownership of the crime problems and education. Gutting the schools and drastically increasing police, in the short term, are a starting point. Until city government starts acting in the interests of the citizens and not in the interest of maintaining their own jobs, nothing will change. JMHO...See MoreDownsizing by buying cheaper land and building a smaller home?
Comments (12)In our case, we moved from dense suburbs in FL to rural SC. The cost of living is much lower here. We bought 7 acres for about half what a tiny (1/6) acre lot would be in our old neighborhood. We were getting clobbered on property taxes and homeowner's insurance. On just those two items alone, we are saving about $5000 a year. Where our plan is different is that the only way we could afford to do this was by doing a mostly DIY build. Otherwise, we'd have far more invested in our new house than the old one was worth. It's pretty hard to beat the price of an existing home by building a new one, so you might want to look at existing homes in the new area you want to live. By going DIY, we were able to build a very energy efficient fully custom home. It is small (1400 sq ft), but has an insulated walk-out basement, so we could double the useful square footage easily and inexpensively. We went ICF construction, R-50 insulation in the attic, and very good windows. We've been able to keep the house comfortable with a single small (12K BTU) mini-split heat pump, and electric bills have been under $100 for an all-electric home. There will be a lot of custom touches that would be found in higher-end homes. It's a hobby for me, so the time spent isn't much of a factor. The takeaway for us is that we have the house we want, on the land we want, in the climate we want, and no mortgage! Zoning is lax around here, and there are no HOA's to answer to. Above and beyond the energy savings, our house is strong, quiet, and there are no cold spots- the entire house is very even in temperature with no drafts. Everything exceeds code, so we won't have to contend with faulty wiring and plumbing issues. As others have said, developing raw land can get expensive. Bringing in utilities, digging a well and septic, plus a driveway add to the cost. If everything goes well, it still adds up. If there are issues- the sky's the limit. Check into permits and fees, too. The most extreme case I know of is a friend of mine that wanted to build on partial wetlands in CT. He wound up spending $66,000 on permits and fees! By comparison, ours were $480 for a house and barn. I'd have to dig out a bunch of receipts to tell you what we spent on developing our property, but I would guess we spent at least $20K, and we don't have a well. All told, we've probably spent $150K, and that's mostly DIY. Our house in FL did sell for more than that, so I guess technically, we did achieve a savings, as long as I don't count 3 years of my own labor. The real savings will be when we retire, and have lower taxes, insurance and utilities, as well as not having a mortgage....See More
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