There are many questions to answer when deciding to build a new home or renovate/remodel an existing home verses just buying a pre-owned home. Is it economically feasible?ECONOMICAL FEASIBILITY OF BUILDING A NEW HOME:Market Value =$150,000.00 (Your total construction cost is estimated to be $105,000 and the cost of your land is $40,000) Minus Cost to Build =$105,000.00 (all construction cost) Plus Land Value =$40,000.00 TOTAL COST $145,000.00 You are $5,000.00 under Market Value which means you already have $5,000.00 in equity built up. ECONOMICAL FEASIBILITY OF REMODELING/RENOVATION OF AN EXISTING HOME: Market Value AFTER Renovation/Remodeling = $150,000.00 Construction Cost = $ 40,000.00 Total Cost of existing home = $120,000.00 (Mtg amt + down pmt + out of pocket) TOTAL COST $160,000.00 You are $10,000.00 over Market Value which means you are in the hole. |
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| Home Construction & Building Guide Regular price: $34.95 Sale price: | |
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 Copyright © 2003 Bill Manning. All rights reserved. |