Due to the current market conditions , you can buy an existing home for far less than the replacement costs of new construction. So the short answer is the best value is currently in buying an existing house.

Dan - Fairhope, AL

Sun Apr 20 2008, 22:52

Hi,
my name is jenny dees . In my opinion it depends on where you are looking at building vs where you are looking to buy. I will tell you that weighing all options wouldnt hurt like can you build a home in a length of time that benefits you meaning you wont have to rent while you build. Labor and material cost. Then look at the area of the pre-owned home you are considering buying and see what the comps are and if it has held its value or gone up or down and look at your estimated resale value would be in 2-5 years

Sat Apr 19 2008, 11:48

I wanted to check my facts before answering. Here are the current stats: Mobile County-ALL pending resales were listed at an average of $82.61 per sq. ft., average asking price-$186,692. For pending sales 1 to 15 years old-$101.67 per square ft. at an average list price of $224,283, and for new and under construction-$134 per sq. ft. at $330,000 average list price. Now, if you are interested in the Eastern Shore as well, here are the current pending stats: ALL resales-$106 per sq. ft., avg. list price-$241,000 average sales price. Resales 1-15 years old-$114 sq. ft. at an average list price of $272,000. New -$121.52 sq. ft. at an average list price of 270,766. If you need any further information, you can contact me at 251-367-3602 or e-mail me at elihoff@bellsouth.net. I'd be happy to help you find exactly what you're looking for, and work in both areas. Also, I can provide more statistics for you, if you need them. Happy hunting!

Sat Apr 19 2008, 09:09

depends on if you are looking for an older home or new house. You get more house for your money with an older home. If you want new build. If I can help please email me @ jeffdees@prucooper.com

Sat Apr 19 2008, 08:38