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Gary Lepore, Home Owner in Sagamore Beach, MA

Is it possible to build a house on land I own and have a reasonable expectation that the home will be worth at least what it cost to build?

Asked by Gary Lepore, Sagamore Beach, MA Fri Jun 1, 2012

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5
Heath Coker’s answer
Short answer: that depends on the price point of what you are building and what neighborhood it is in.
I just sold one in Sagamore Beach for $1,079,000.
That house away from the water and in another neighborhood would not have sold for the same money even though it had granite, 6" walls, high teck items, etc.


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0 votes Thank Flag Link Sat Jun 2, 2012
Depends on exact location, size of lot and size of house. If you give us some of those details we may be able to give you a better idea.

Here are all the properties on the market in sagamore beach:

http://territory.com/search?search_string=SAGAMORE+BEACH%3AB…
Web Reference: http://territory.com
0 votes Thank Flag Link Sat Jun 2, 2012
Difficult question to answer, simply because the quality, size, construction, inside amenities, lot size and location all will at the end filter into the value of the home, and then the value of the home at the time of sale, when the market evaluation will evaluate it based on all of the above to all similar homes in the area that have recently sold and those competing on the market at the time of sale.

The pricing at that time will depend on all that, and also on the economy itself......

So although you can with the help of an appraiser Realtor you can based on the type and size and specs of the home get some idea..... nothing in Real estate is set in stone.

But here are some general recommendations

Do NOT build the biggest home in the area, build only with good quality construction, similar to the surrounding area homes, because yours will be compared later to exactly those.

Good luck to you and congratulations it is exciting to build your own home.... Most of all after all the
financial and future considerations, I hope you will enjoy living in it for many years and when building a home, be careful not to make it too personal, make sure that the floor plan and amenities and details, fit the general new homes. Go with your builder and or Realtor and
look at new constructions in your area, you do not want to be the odd floor plan out...
Good Luck to you, if you need a recommendation for a local Realtor, get back to us here and we
gladly make some good recommendations.

EdithSellsHomes@gmail.com
YourRealtor4Life! Your Chicago, Northern Illinois, N and NW subs and the fine homes of the
Northshore Expert with @Properties Northshore, 30 Green Bay Road, Winnetka, Il. 60093
Edith always works in the very BEST interest of her clients, buyers, sellers and investors alike
and she truly goes the X-tra Mile with a SMILE for all her clients

Have a wonderful Day and all the BEST....
0 votes Thank Flag Link Sat Jun 2, 2012
Yes. A market analysis or appraisal based on plans/specs could be done to confirm.
0 votes Thank Flag Link Fri Jun 1, 2012
It is possible if the zoning allows it and there are not conservation issues that prohibit it and you have the money to do it.

It will be worth what it cost to build it, a better question is will the market be willing to pay for it.
0 votes Thank Flag Link Fri Jun 1, 2012
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