Originally Posted by
Jerome Stanek
Why would you assume that prices for houses vary a whole lot through out the country. maybe Where you live it is a good deal but in other places it would be a horrible deal.
I took that into account. Median price for house building in Minneapolis is ~120$/sf. In upscale suburban Southern California the cost per sf is over 200$/sf. Of course here the median house price is over $650K. Wages are commenserally higher as well.
In 1984, some friends and I built two houses in the midwest (similar metropolitan area) for 135$/sf with us doing about 75% of the labor. By most US standards, 90$/sf is cheap for a functional house today. The 90$/sf does not account for the cost of the three acres. Acounting for the cost of the land just lowers the cost/sf.
My price does not assume that it would be worth that on the market, merely what it might cost to build. The question is, "is this a place to live or an investment?"
Shawn
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"I resent having to use my brain to do your thinking"