Is it cheaper to buy land and build a house on it than it would to buy a house of exactly the same size and on exactly the same type of land in the same location? (sorry if confusing could not really explain it)
2007-06-26 11:09:50 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Well i do not agree with the person who first answered this question. It would be cheaper to buy land and build your own house on it, also you can get it built exactly the way that you want it. On the down side is the hassle of building it + the time that construction will take.
But as for houses depreciating in price because they are second hand - lets get real! If this was the case no body EVER would build a new house, and we all know that people with money DO build new houses and make a profit out of it!
2007-06-26 11:35:20 · answer #1 · answered by kel 5 · 0⤊ 0⤋
Well, that's not really a valid approach, since each piece of land is quite unique, and you can only build one house in the same spot. However, if you are asking if it is cheaper to build an identical house very close to the other one and expect to pay more, yes, you will pay more for the new construction.
Why? Because everthing in the built house is brand new and the other is slightly used, depreciating it a bit. Additionally, is existing construction, the price generally includes appliances and window coverings. Not in new construction unless you pay extra. Also consider landscaping. Never seems to bring at resale what it cost to put it in.
2007-06-26 18:16:40 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
For heavens sake ... WORK IT OUT ... if the answer is 'no' then HOW DO House Building Companies MAKE A PROFIT ?????
OK, in some specific LOCATIONS that's NOT the case - however plainly no new houses would be built in that location until the situation changes
2007-06-27 03:07:01 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋
Cheaper, but far too much hassle. Building company's can be hard to work with and go over budget. At least u get what you pay for, if the house is already there.
2007-06-26 18:21:44 · answer #4 · answered by cavetroy 3 · 0⤊ 0⤋
In some cases yes, but the drawback is that you will need to have all the funds available to pay builders, materials, etc. It is quite a big project to build a house from scratch and it takes at least 6 months with full supervision.
2007-06-26 18:18:38 · answer #5 · answered by mando 1 · 0⤊ 0⤋
I don't think it is any cheaper to do this ????? than it is to do this !!!!!
2007-06-27 09:03:28 · answer #6 · answered by jupiteress 7 · 0⤊ 0⤋