Considering building home questions

5 years ago

Hello,

My wife and I live in North Dakota and are looking to build a home in a small community. Unfortunately the community does not have much as far as land that is reasonable and open or existing homes.

We have went after what open land is there but none of the owners are willing to sell or if they are the price is far to expensive.

We are in a bit of a time crunch only that we want our kids to start the school year in this community to make this transition easier in addition, we are told the best time to try and list to sell is starting in March/early April.

There is a home that based on the look seems to be one you might tear down. The price of the home and smaller lot 78x150, is about the going rate for lots in the past year that I have found or a little high. High i believe because of the structure. I will hopefully get some mls info on it today

Opinions/Questions:

1. We have thought to buy this and possibly tear it down and put a temporary home up on this location. Temporary as we would like to find a larger lot than this. This would get our kids in to the school system and get them used to this. One concern I have is the home was built in 1910. Maybe asbestos and why it is so reasonable? Outside of a test would the owner have to note that?

2. If the above was a good idea and since this would be temporary. What are peoples thoughts on kit homes lets say from Menards or something for example? Do they end up being more reasonable and still well done?

3. Would it be possible to build something around 1800sq ft (main and top floor total) with a 2 stall garage for 150,000? I am handy and have finished basements to existing structures doing all the work except for carpeting if that matters. The potential exists to possibly do some of these things to aid in bring the price down is why i mention it.

4. What layouts and designs are most reasonable to build and attractive to turn around and sell? I did ask one builder here if slab on grade is cheaper and he said it isn't that much more in ND to put in a full basement since they need to be below the frost line anyway for the footings so they have to go deep.

Appreciate any input. Thanks

Featured Answer

sprink1es

5 years ago

1910 could have asbestos and/or lead paint. Never know on remodels along the way also

If I were you, I'd rent a space, rent a storage unit if all of your stuff won't fit in it, the take your time on the house part

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Comments (10)

PRO
Mark Bischak, Architect
5 years ago
Your best answers will be found locally, from people that know local costs and market. Talk to local architects, builders, lumber yard, Realestate agents, pastors, city officials, or just about anyone local.

Is the telephone pole still the State Tree??
PRO
Virgil Carter Fine Art
5 years ago
"...Would it be possible to build something around 1800sq ft (main and top floor total) with a 2 stall garage for 150,000?..."

Does this include site work and improvements, fees, permits, contingencies and change orders? Sounds very low to me, but as Mark suggests, your best source of local information is local professionals, builders and banks.
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cpartist
5 years ago
You do realize building always costs more than buying what is already there?
sprink1es
5 years ago
Might take time to get to know the town, decide what location is ideal, then wait for the right house to hit the market. ZZZZZZ
User
5 years ago
Tearing down a house and building a new one on a new foundation on a small lot would be the most expensive option. You would almost certainly lose money on the first house and then have trouble buying another one.

Show us a photo of the house; perhaps it could be renovated cheaply enough that you could get your money back in a few years.
PRO
Virgil Carter Fine Art
5 years ago
"...You do realize building always costs more than buying what is already there?..."

This is the conventional wisdom so long as all aspects of the prospective house are in good repair and fully functional.

Buying a house in questionable repair, or one which has not been unoccupied for an extended period opens the door to unexpected, undetected and unseen repairs of all sorts, from top to bottom of the house. HGTV never shows any of these issues.
AnnKH
5 years ago
HGTV never shows any of these issues.

Actually, HGTV shows issues like this all the time - all the wiring in the house needs to be replaced, the furnace is bad, the foundation is crumbling, the floor joists have big holes in them. But on HGTV, the problems are resolved without seriously impacting the budget, and the cost of the repairs increases the value of the house. In other words, HGTV is NOT reality!
PRO
Virgil Carter Fine Art
5 years ago
HGTV tends to spend more air time on selecting and installing furnishings and decorative items than it does inspecting and replacing poor exterior site drainage, foundations, rotten and/or bug infested framing, leaking roofs, non-functional kitchens and baths, non-working or insufficient HVAC, electrical/signal and plumbing systems, and all of the truly expensive areas of work required to upgrade an existing house.

To make the show more unbelievable, the HGTV hosts spend as much or more on new furnishings and decoration than they do on the actual remodeling...but they never speak of or talk about these costs.

HGTV is not reality!
cpartist
5 years ago
Agree Virgil that a house that is in total disrepair would wind up costing more than a new build.

Considering building home questions

sprink1es

Comments (10)

Mark Bischak, Architect

Virgil Carter Fine Art

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