I had a builder buy a small home cottage near my house a number of years ago. His plan was to “Remodel” the house and live there for a short time and sell it.
I was talking to him and he said he was building a new home on the old foot print but to comply and be grandfather in with utilities and well and septic he needed to leave one tiny corner of the house. He brought in a huge crew and at the end of day one it was down and gone except for a couple blocks and the footer. The foundation was done the next day and a couple days later over one weekend there was a new house standing there totally finished on the outside.
He had about 50 people working on it that weekend and they all were pro crews that owed him favors.
Doing it yourself is a much larger deal as a DIYer.
The home we live in now we bought for 24k two story house that was on the market for 2 years and very distressed on a quarter acre lot in a little NW PA town. Every inch
I had a builder buy a small home cottage near my house a number of years ago. His plan was to “Remodel” the house and live there for a short time and sell it.
I was talking to him and he said he was building a new home on the old foot print but to comply and be grandfather in with utilities and well and septic he needed to leave one tiny corner of the house. He brought in a huge crew and at the end of day one it was down and gone except for a couple blocks and the footer. The foundation was done the next day and a couple days later over one weekend there was a new house standing there totally finished on the outside.
He had about 50 people working on it that weekend and they all were pro crews that owed him favors.
Doing it yourself is a much larger deal as a DIYer.
The home we live in now we bought for 24k two story house that was on the market for 2 years and very distressed on a quarter acre lot in a little NW PA town. Every inch of it inside and most of the outside needed touched. I didn’t tear it down and it took a year of my time weekends and evenings for close to a year. I had an 80 year old guy helping me part time and he was a good builder in his day. I bought everything I could used or at a bargain. My guess is we put between 20-30k into it. We now have a great place to live and mortgage free and its probably worth 120k. Flippers didn’t want to touch it though as their costs would have made it a loss most likely.
You really need to get it cheep and if you are going to sub out the work need to really know your subs and what the costs will be. Location and prices around the location are super big. If it is the worst home in the best location with a housing demand then it might be worth it.
Well, the house is in a decent area. It's just a couple blocks from a lake. There are new houses going up on a street where a developer bought a bunch of land that once had a school. Small houses in that neighborhood go for around 2-250k...tho the ones being built are going foe around 450k(2000sqft)