im about to buy new house..........?

Question

its in houston tx for 105k, 1 story, 1,324 sq ft im a first time buyer help am i getting yipped??????????

brand new not even built yet(its a kb home)

Answer 1

u need to make sure u " dot ur i's and cross ur t's" ...that figure comes out to $81.00 per sq ft. with the land!! that is unheard of.....the material alone for the house will run about $ 45-50K....make sure u read the material list and the list for the allowances such as appliances, flooring and such....i'm betting u end up out of pocket at the end of the project! ( but hope not)

the going price for a home in ur market for that size home is about $110-125K per foot! plz read ur contract over well....


lic. gen. contractor

Answer 2

Well without knowing the Houston area very well right now I'd tell you it sounds like a good deal, thats a pretty big ranch home. But it really depends on what shape the house is in. Where it is exactly in Houston.

House pricing is very very complicated. I would look at house values in and around the neighborhood yours is in. Also look at the city itself, is it dying? Getting ready to grow? etc. Because it may be a good deal now but if property value drops you could end up losing money in the long run.

I would def seek some help with this one other than on here, have friends, family, or co workers give you their imput and/or go talk to the sales agents with you so you don't get screwed.

Answer 3

Best advice is to check out the reputation of the builder. If this is a tract home in a subdivision built by a big builder, you are going to pay the market price for the house. The business is too competitive for builders building the same basic house to be very far apart on price. Talk to homeowners in the neighborhood to see what their relationships with the builder have been like.

For what it is worth, Kaufman & Broad is a huge nationwide builder and have been around for many years.

Good luck with your search for information.

Answer 4

In Detroit MI, 105k would only buy you 1,000 sq ft or less depending on the neighborhood....
Sounds fine to me...
You should go view a bunch of other homes in the area to get to know your market on new homes...

Answer 5

You should buy it since the market is so hot, you may make money buying selling it after it's built. How? Because it's not built yet, you only pay a small amount of deposit for now. It may take several months to several years for the house to be built. By that time, the market may be getting hotter. Good luck!

Answer 6

Go to www.zillow.com and type in the streets in the area and you'll see some home values near there which include sq. ft., no. of bathrooms, size of lot, etc. Although other things may affect price, and they have a feature that kind of accounts for that, you'll get an idea.

Answer 7

In Saint Louis, 1300 square feet would set you back 150k minimum. You're doing fine.

EDIT: Check out the link below, it shows estimated home prices for specific addresses and tracks neighborhoods, zip codes, and cities, as well as the nation as a whole. You can also see comparable homes in the neighborhood or in the city.

Answer 8

Well in one respect you are because the house is in Houston, TX. But a single family home in the northeast that is 1,300 square feet would cost you $350,000 +...Good luck !

Answer 9

The house market has skyrocketed these days. I live in Wichita, KS and a new home of that size would probably be about 115,000 with no finished basement.

Answer 10

that size and price you won't find anywhere in the US. DC, where I'm at, 1 bdroom condo = $900,000. you're doing fine.