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Updated over 1 year ago on . Most recent reply

User Stats

32
Posts
6
Votes
Hannah Simpson
  • New to Real Estate
  • Austin, TX
6
Votes |
32
Posts

New Build PRICE PER SQUARE FOOT Estimate !???

Hannah Simpson
  • New to Real Estate
  • Austin, TX
Posted

Hi! I'm a new investor and am looking to possibly build new on an empty lot. I've talked with 2 other investors from my area and each one has told me that price per sq. ft. to build new is about $120-200/sq. ft. That seems SO HIGH to me!? I trust these 2 individuals and do not doubt their numbers, but I am just wondering- is this how it is all over the U.S. right now for new builds? Is this low? Is this high? Do we think pricing is coming down soon?! Maybe it's because I am new, but that just seems like a lot to me! Any input is welcome. Thank you!  :) 😊  

Most Popular Reply

User Stats

685
Posts
335
Votes
Ed O.
  • Investor
  • Statewide, MO
335
Votes |
685
Posts
Ed O.
  • Investor
  • Statewide, MO
Replied

Word of caution to a newb considering build to rents - beware of bad opportunities to purchase a cheap lot in a terrible neighborhood. Lots of people are drawn to cheap lots, but the surrounding neighborhoods are 99% of the time a very poor match for a new home. 

In other words - make sure the neighborhood is a good fit for a new house. Also, make sure the lot doesn't have costly defects you'll have to pay for to remedy. Good luck!

  • Ed O.
  • Loading replies...