Louis, Other/Just Looking in Sunnyvale, CA

Is it cheaper to buy a lot and build a house in the berkeley or oakland hills or buy an existing property?

Asked by Louis, Sunnyvale, CA Tue Mar 4, 2008

It is my goal to have the cheapest three bridge view home in the area, live in it for a couple of years and then sell for a profit. Am I just dreaming? I was told if you have a great view lot, it is in your best interest to build the biggest, most luxurious mcmansion on it....

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The land that has three bridge views in Oakland and Berkeley are at a premium. In building a home, the rule of thumb is $300.00 per sf, but you need to add on the cost of land, permits, etc... Also, many times the lots in this area are on a steep slope which will add to the costs of building on it.

I would recommend that you buy an existing property and customize it to your own tastes.
Web Reference: http://www.apr.com/mburns
1 vote Thank Flag Link Wed Mar 5, 2008
Almost all the lots in the Berkeley and Oakland Hills that are easy to build on have been built on. The remaining lots are very challenging, extremely steep, on slide zones, etc. I saw one lot that was so high above the street that the driveway alone, with retaining walls could cost $200K by itself.
It would be a better bet to find an existing home that needs upgrading, and working on that. Though, I have to say, these are not cheap either.
You might look in Kensington. I think a couple of fixers came on the market recently.
Good Luck
0 votes Thank Flag Link Thu Apr 3, 2008
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