I need some real estate advice. We closed on our house in San Antonio in August of 2006. The closing price was $139,500. We had to take $5,500 to closing. The actual cost to build our exact same house now, not market value, is $149,000. We have improved by adding some landscaping, painting all rooms, and adding a backsplash in the kitchen. The builder is still building on about 700 more lots in our neighborhood. We want to begin building another home this year on some land we own, but we are not sure how the sell of our current home will pan out. Do you think its possible to sell without any out of pocket expenses considering realtor fees and closing costs? Needless to say, we aren't hoping to make a profit.
I know it all depends on the market, etc. My main concern is the fact that they are still building, and the base price of our home has only increased about $9,000 in a year and a half.
Any professional advice is very appreciated!!!
2007-12-31 18:39:10 · 1 answers · asked by Texas Chic 2 in Business & Finance ➔ Renting & Real Estate
It will be hard to sell your home.
People want a brand new home. And the Builder will give some kind of warranty. such as a 2-Year Fit and Finish Warranty.
The builders are begging for sales. So they will be giving away all kinds of stuff. Finished basements. Upgrades up the wazoo. These places will be much nicer than your house.
2007-12-31 19:18:04 · answer #1 · answered by Philip Augustus 3 · 2⤊ 0⤋