To build or not to build

[Ed Larson]

I recently purchased a 5 acre parcel at a tax sale in Pierce county, WA. On it is an unfinished 4200 sq ft home. It is completely framed and sided, the well and septic are installed. The framing was done in 2008 and the roofing was never installed. As you can imagine the sub floors and floor joists are rotted and it needs to be torn down and rebuilt. The county will reissue permits by simply paying the permit fees. The truss system is in good shape and can be saved, the framing lumber and several large laminated beams can also be salvaged if the house was deconstructed. 

So I have 5 acres, a good foundation, well, septic system, and it is all permit ready. This will be a high end 4200 ft 4 bedroom 3 1/2 bath with a huge 4 car garage. So to build and sell or try to sell it to a builder? So far I am into it 53,000.00 current assessor value 99,000.00 property 50,000.00 improvements. With the home completed estimated selling price 540,000.00.  Have not gotten construction estimates yet my guess is north of 300k.

So would you build or try to sell as is?