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We may have the opportunity to move to a new state in 2022. Looking at real estate in the area where we would move, nothing has us excited - and we're sick of living in suburbs - so we're considering buying land and building. We wouldn't be able to afford a true homestead, but could get at least 1-2 acres.

Has anyone here bought a plot and built a house before? Any pitfalls to look out for? Would you build again or buy in the future?

We may have the opportunity to move to a new state in 2022. Looking at real estate in the area where we would move, nothing has us excited - and we're sick of living in suburbs - so we're considering buying land and building. We wouldn't be able to afford a true homestead, but could get at least 1-2 acres. Has anyone here bought a plot and built a house before? Any pitfalls to look out for? Would you build again or buy in the future?

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[–] • 0 pt (edited )

You’re an idiot

[–] • 0 pt

Is that the name of a place where we can see housing prices correlated with the age of construction?

[–] • 0 pt

Don’t change the argument. We’re talking new vs used . Talk to any builder or insurance salesman if your house burns down it will cost more to rebuild it than it’s current market value in almost any situation.

[–] • 0 pt (edited )

You're insane. Residential construction cost in almost any market is far below market price for an already-constructed house. If it wasn't it would be impossible to make money building houses or doing additions.

Housing construction cost in the Los Angeles market is around $300 per square foot right now, and that's insanity. Even still, the price of homes in the Los Angeles market is often in the $1,000 - $1,300 per square foot range. You can build 4 houses for the same price as one that's already built. Why do you think real estate developers get wealthy? A 400% ROI is pretty good. The problem is finding land to build in that market.

Lest you think it's just California's whacky market, check the same prices in TX, FL, NE ... it doesn't matter.