Besides costuming a new home, is there any advantage of buying land and building vs buying older homes?

likehelpful
Posting as :
works at
You are currently posting as works at

You get a home warranty from the builder that will fix anything in the first [3] years.

On the flip side things are less likely to fail in an older home.

likefunny

A1 is absolutely right, older homes I’ve bought are typically predictable remodel projects. New homes haven’t been battle tested. One building I bought had a roof leak, door bells not working to correct apartment, water coming in through a window, one flooded due to insufficient drainage on the roof, an under mount sink dropped, cracks in walls, broken tile, failing light fixtures, failed plugins, on demand water was too hot/too cold. The list was long initially. Then it tapers off. Fortunately my builder is awesome and responded quickly on my 1 year warranty.

like

Depends on if you can find what you want in a house.

For us it was cheaper to build new than it was to find exactly what we want or to buy and renovate.

like

It was likely a savings of about 300k or so for us but it really depends.

Buying land + building will usually always be cheaper however it will likely be more capital intensive and take longer than simply buying a house that’s already built and ready to go.

In my market we buy land and build Duplex properties that sell for 425K+ meanwhile our cost to build with land included is usually in the 275-325K range.

I agree. I build duplexes as well. In my market land plus build is about $390k. New duplex built a block from my current project just sold for $525k. You cannot find a 3BR/ 2BA home here for $200k so much better to build.

Related Posts

What health insurance bkd has? Any 401k match?

like

What % of post-tax income do Londoners usually spend on rent?

Offered 6.2k per month post-tax and thinking of spending 2k on base rent, single household. Does that seem reasonable for someone who wants to save and invest?

like

Hi guys, should I buy lumpsump for coffee can investing or do SIP ? And one more question if you guys can help . At what point let say I hold a coffee can stock when should I exit. I am planning to hold for 10 years but how do I know that this stock is not relevant now or some red flag I should exit .

like

I opened a Marcus HYSA based on the advice in here and now (too late) I'm freaking out that I allowed this "Plaid" thing to access my bank accounts to move the money over. And it requires linking all accounts, which seems unnecessary. Do folks think it is secure??

like

Thoughts on Transfix? Anyone invested?

like

Looking to buy a property mid-2021 and need advice on what to do with my savings that I’m building to purchase the property. More info in the comments

like

Hey guys, Can anyone please tell me if there is any restrictions on SPI in mutual funds in MS for employees.

like

Hi - any good books recommendations for getting started on real estate investing?

like

Any guesses/predictions on when this housing market gridlock ending? Reasonable prices and reasonable mortgage rates? Umm like a 2017 or a 2018?

I am sick of being a realtor! I've been trying for 5 years and have only sold 3 houses. Where I'm from (small Southern town) nobody is buying. Most people's families already own homes and it's just a bummer to see all these nice houses deteriorating over time.

like

Is now a good time to buy a house?

like

What will be the inhand for this with proper taxation?

P.s: want to compare with another but fishbowl don't allow to add 2 images
I just shared that too a while ago.

Please help i think the gratuity is extra

Post Photo
like

For the other 1099 contractors out there, any thoughts on other strategies for what to do with your tax money besides a high yeild online savings account? My Barclays account is 1.50% interest.

like

HYSA anyone recommends?

like

I am going to buy AntShares aka NEO bigly. It has a potential to go to 100$

like

Can anyone recommend a good fixed income investment that I can add to my ROTH IRA account?

like

Diversification is for protecting the wealth but concentration is for creating. Agree or disagree?

like

Dm me for wealthsimple cash, wealthsimple trade, or rakuten referral codes. Literally been on rakuten 2 weeks and made over 20$ for nothing. And while I’m here, any other good money makers?

What am I supposed to do with a firms mandatory pension notice? $6B... okay, seems good 🤷🏻‍♀️

Or am I supposed to actually pay attention to something specific in the notice?

likehelpful

Any thoughts on PIC? The stock rose significantly in after hours on news of XL fleet merger. Does it still make sense to invest in it at ~$18?

like

More Posts

Hello all,
Now i am worrying to join nagarro after seeing that people are on bench from last 1-2 months.
I have an offer from optum and nagarro.
Only reason to choose nagarro is WFH.
Am I doing wrong to choose nagarro over optum.

I am Java developer.

Amazon vs Microsoft vs Salesforce vs Intuit vs MBB. Which one would you choose if the compensation is same?

likehelpful

Good day everyone, I was turned down by Accenture strategy last minute before offer due to the Macro uncertainties, any of you have referrals for MBB/Big4/@tier2? I am 8+ YOE in strategy & transactions I’m open to all offices THANK YOU!

like

Halloween parties in LA? Bars having events, etc

like

My friend is having 5+ years of db development/admin experience and is currently looking for a job in Kolkata (currently working for EY India government sector project where wlb is a joke).
Can any of you please help with a referral ?

What level and service line were you at the big 4, and what percent salary increase did you get once you left? I’m a S1>S2, and the offers I’m seeing are around 10%-15% higher, which feels a little low. But maybe I’m being unrealistic.

like

Can anyone help me understand what c9 grade means in NatWest job grade? what are next two grades after c9?

like

f*ck your towels

Post Photo
likefunnyuplifting

Hi All,

Say you have an offer for Senior Test Engineer and SDET (not senior).
Compensation is same. Both the companies are good.

Given the narrowing boundaries between testing and dev, which position is better in the long run? I thought it'd be SDET.
But, I'd like to have expert/experienced opinion.

like

Hello Everyone..Anyone who knows about the Salary range of Manager L2 in PWC AC Blore under Business Acumen team?

like

Stuck in a weird limbo where I want to leave my job more than anything but grateful that I have one at all with all the layoffs in our industry. It's a new kind of trapped. Anyone else feels the same?

like

Where are you from?

like

What to choose between John Deere and Mercedes benz

like

Hello Fishes, Can you please help.

Post Photo
like

Hi Fishes, I have received an offer for the role of Senior Manager (Accountant) from Congnizant for 20LPA (66% higher than current CTC) & Flexible Work Location. I'm already due for promotion in my current organization which gives me 20% hike from July 2022. If I consider this hike. Cognizant offer 20LPA is 38% increase. Should I ask more from Cognizant? Could you please tell your review about Cognizant - Pros & Cons (what you feel)?

Hoping for a bump at next review. Should I mention it now? Will either kick epic ass or fail massively in the next few months.

why cts blacklist any company any idea?

like

For the one year of work experience requirement to get CPA license in CO, when did you qualify? Do they just do 1 year from DOH or do you need to have charged 1,800 hours of client work?

Hi all, I’m trying to transition to the insurance industry and begin as a claim adjuster. I have a virtual interview for progressive and a phone call interview with AAA coming up soon. Do you have any tips for me?

like

Good Eve Everyone

I am nearing 10 years of experience in my Electronics Career domain. Now i am looking for a change in the same. I have experience in complete product design. I have worked for Industrial, commercial, telecom domains and now working for medical domain. Kindly refer me to some which suits my profile.

like

Additional Posts in The Real Estate Bowl

Please help! Do these fees look within normal range or are they too high? I am especially concerned about the title company fees!

Post Photo
like

Would you pay an extra ~$100/month on top of existing monthly PITI for access to $65k in equity from your home? Want to use it for either A) down payment on new primary or B) net new investment property and see if that can fund the next primary

like

Anyone take the WI Real Estate state exam? Any tips on what to study?

like

Looking for an NJ store selling hardwood flooring that has a decent selection and not too lengthy delivery times.
Everyone seems to have a 4 week wait for hardwood. Any help is appreciated.

like

I really need recommendations. I want to replace the through-the-wall AC units in my condo. Anyone buy ones you really like? Or rent an apartment and are happy with your (newer) AC units?

Tried doing research online but reviews are all over the place. And would love firsthand recommendations.

like

I am considering putting down an offer for a TH in a community that has Mello Roos. It gets added to the property tax. I am looking at paying an additional 5-6k for that.

Online videos say it’s all good because the money gets invested in building the community .

any potential downsides? In terms of future sales and demand ? What am I missing?

like

Now that the rents are going higher and housing is not affordable. With wfh option is it good idea to love to ranch with house?

Anyone here invested or opted as primary living place outside of cities?

Cheers

like

Hey everyone, curious about pros/cons and profitability of renting out a unit long term vs AirBnB. Let’s say it’s a condo downtown in a big city, how do you figure out what’s the better option?

like

Under contract to buy my first home - house hacking a triplex. Property has been leased by the same three tenants for the last 5+ yrs, rents haven’t been raised since they moved in. Market rents have risen 70-100% in the same timeframe. All seem like ideal tenants (retired and take great care of the units) but I’d like advice on how to approach the rent increase conversation. Rents don’t make/break my mortgage payment but I’m leaving a lot on the table if I don’t increase significantly.

like

Is it safe to buy new home now with high interest rates ,high home prices and recession in near future?

likefunny

Happy Holidays fishes!! I would love to hear some thoughts here..We bought our first home last year for 316K ( starter home) in MCOL city. The value is now over 400K and I have an equity of over 150K. We are thinking of moving to a different state.Should we rent this place ($2400/month) and with recent refinance my mortgage will be $1600/month(inclu pay all) or sell it to pull out equity for the new home in a different state? FYI: we have over 100K in cash to down payment.

like

It’s a myth that renting is “throwing money away.” Maintenance of a property is expensive! I’m selling my place and I’ve never felt more free. I can use that money (~$5000/month) to invest even more.

likefunnysmart

Anyone punched out of state 4-10 unit apt building? How did you find the listing?

like

Does it make sense to refinance now? Current rate is 3.62, bought in 2019. About 480k left on loan. Need some suggestions.

like

What rates are people getting for condos? I’m thinking about selling my condo (I had 3.25%) but my realtor said that the rates are so high now that if I were to buy a similarly priced place, the monthly payment would be like $800 more. I’m bad at math, so I wanted to ask here to confirm this is accurate. Mortgage is around $700k

like

How long did it take you to purchase your first rental property once you started looking? I’ve been working with an agent for about a month with one offer not accepted, feeling discouraged

like

How did you get started with your personal investing in stocks? I am 26, F, have some money in savings, 401k, stocks and just started my own business albeit small. I’m extremely interested in real estate investing have been reading and listening to podcasts. Any advice?

like
like

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

Any investors in the woodlands Texas for single family homes, rent looks good as per Zillow , good school district and houses are still affordable compared to Dallas and Austin

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal