Property Q&A in 18704>Question Details

Gada, Home Owner in 18704

Cheaper to demolish home on lot I already own or to buy another home on another lot?

Asked by Gada, 18704 Mon Jan 24, 2011

I currently own and live in an very old house on a lot. Both house and lot are paid for, with no outstanding mortgages, taxes, nor other leins against them; but the house is very old, very large (a double-block being used as single family home), it's very ugly, and not energy efficient. I'd like to demolish it and build a new, smaller, more efficient home on the same lot, but looking upon searching this site, it seems demolition might be more expensive than I would have guessed. What is usually cheaper: to demolish and build a smaller one the same lot or to just go buy a smaller home already built on another lot somewhere else?

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