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Updated over 1 year ago on . Most recent reply
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New Build PRICE PER SQUARE FOOT Estimate !???
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
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!