Home Buying in Gainesville>Question Details

Karyedv, Home Owner in Gainesville, FL

What are the pro's and cons to building a house on a lot in an already established neighborhood?

Asked by Karyedv, Gainesville, FL Sat May 26, 2012

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3
Bonnie Seide’s answer
the positives would be that you dont have to hear the building going on once you move in.
The negatives would be that you may not get the exterior color choice or elevation you want because the neghboring home may have already taken it.
0 votes Thank Flag Link Sun May 27, 2012
Florida Mortgage Broker-

1. Construction Loans are very rare and Extemely difficult these days
2. Requires a lot more out of pocket

With a glutton of homes on the market, more than any time in history, do yourself a favor and take advantage of an awesome deal on a Re-Sale or Foreclosure at these current historical low rates and the minimum out of pocket.

Then with the money you didn't sink into dead equity, pay off other Non-Tax Dedictible Debt and/or diversify and invest in retirement savings or more Florida real estate.

This is good advice for 95% of all buyers!

Steve McRory

PRO OPTION MORTGAGE/ FLORIDA

888 662 4404

http://www.Pro-option.com
0 votes Thank Flag Link Sun May 27, 2012
The pros would be that the neighborhood is already established and you know the conditions and amenities of the area....cons....not necessarily many..you would have the newest home in the neighborhood....be careful not to overbuild or underbuild as the values of your new home would be adversely impacted in either case.

Hope this helps
0 votes Thank Flag Link Sat May 26, 2012
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