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Build new vs gut job remodel

I am wondering what the cost difference is between building new vs buying an old house that you gut down to the studs and remodel from there.

Obviously let's assume it's the exact same sq footage and final finishes, etc. (so the final product would look nearly the same).

So in the case where you're buying the old house, you have the cost of demolition. But you can use the existing studs/frame and the foundation (assuming they are in good condition, and then yeah you'll prob have to modify the frame to modernize it and get it to code).

Let's say this is in a typical middle class city, and you can buy the old house for say $50k.

Any idea how the final costs would compare?

submitted by /u/SeriousPuppet
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source https://www.reddit.com/r/RealEstate/comments/l9s1qm/build_new_vs_gut_job_remodel/
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