Skip to main content

Is it worth it to buy a house and destroy and rebuild?

Hey guys, I am just here to learn more about the potential future that I am looking towards but of course things may change and I may end up never visiting this idea ever again. However, I am still fairly young and I am hoping that in the near future to purchase my first home (or build one from the ground up through buying an existing one).

​

Currently, I am renting a home that is on 8,500 sq. ft. of land. The land currently consists of two mobile/manufactured home, with one being unoccupied. I was recently in a small conversation with the landlord about his thoughts of me purchasing the home (which would then give me ownership of obviously the entire land with both houses instead of the one I am specifically renting right now) because I am young and soon to complete college. He suggested of selling the home for approximately $220,0000 to $235,000 since my family and I have been great tenants for several years now. He mentioned that because if we were to move out, a company or real estate investor will purchase this entire place from him but has not done so since well, we are living here and he doesn't want us to be kicked out, thankfully lmao.

​

I am looking to be educated on the matters of purchasing the home (it's in okay condition) and was curious as to would it make sense to purchase it, destroy the mobile homes, and rebuild a brand new one to live in? What would I need to keep in mind in terms of cost (being cost efficient), regulations that I may not already know through research of my own, and other important things I may be overlooking or people usually overlook when wanting to buy an existing home but destroying it and building a brand new one.

​

Thanks!

submitted by /u/Jvyyyyy
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/hicwkv/is_it_worth_it_to_buy_a_house_and_destroy_and/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more