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Updated over 8 years ago,
New construction question
Hey BP,
I am in the middle of a new construction build and have a question for those who are familiar with building/selling new homes. The home is being built for me by a small builder and the price is 275k for 2800 square feet, 900 of which is below grade. A different (larger) builder has built 3 homes directly behind my lot and they have sold for 275k, 300k and 305k these houses are all identical and only have 1600 square feet and mediocre finishes. In my opinion my completed house will have much nice finishes and appliances. The question I have is, would I divide the other builders selling prices by his square footage to get a good estimate on what I could potentially sell my house for? I originally planned to live in the new construction but if I could flip it and do a tax exchange I would be intrigued. Any help would be great.
Thank you,
Lamar