It seems like tearing down my house and rebuilding it just destroys the value in the structure. That's value that I could put into 'trading up' for a new place. But can't I afford much more house if I have it built myself? E.g., if I have a mortgage for 100,000 left in my mortgage (hypothetically) and can tear-down and rebuild for 400,000, then I owe 500,000 total. The kinds of homes I can get around here for that low are either townhomes, or very old, or both... (I don't know what my house is worth)
I appreciate any input!
2007-02-11
04:05:24
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3 answers
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asked by
Anonymous