We have the usual older home on a 'nice' street with 6600 sq ft lot inside the Heights with new construction garage apartment (rented) in
the back. The time has come where the original home no longer has much if any economic life. So the choices are either #1 sell the property, #2 contract a major remodel / refurbishment or #3 tear down and start over with new construction.
#1 is doubtful as the the house is in such a state that it is unlikely that any bank would lend on it. #2 - not sure if we would ever get our money out of a major remodel. So purely from an economic standpoint I am leaning towards #3 tear down / start over. What do the professionals say and what can I expect on a $/ft basis for construction costs ?
my opinion (not my wife's) is that the 'bones' are non recoverable.
zip code is 77008. 14th block of tulane street.
Hi there Homeowner in the Heights!
According to my professional experience, if you were to tear down the older home and rebuild a new one, you would look at approx $140 and up per square feet.
Let me know if you have further questions. Thanks.
Ok, do you think the "bones" of the home are in decent shape? What zip code are you in?
yes we currently occupy the main house, it was marginal when we bought seven years ago - furnace, insulation, roof all need to be replaced.
Hi Wingfooted,
Have you thought about selling for lot value? With that size of a lot, it may be beneficial to try and sell to a builder, etc. for lot value. Does anyone currently occupy the main home? This is such a hard question to answer due to not seeing the property firsthand. Do you have any photos of the main living area?
Amber Carrillo, Broker/Owner
It Homes
832*643*5632
ambersells@sbcglobal.net
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