What is a reasonable price for acrage in Fair Oaks? And, what is an average cost to build a house?

Asked by Mooshak, Fair Oaks, CA Sun Dec 4, 2011

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Erin, , South Lake Tahoe, CA
Mon Dec 5, 2011
Hi Moosak; I completely agree with Jim that is much less expensive to buy a home already on a lot in Fair Oaks than to buy a lot in our current market, and I see one offered at $96 per square foot. In the end, the cost to you will be much less than building. Homes are currently selling for generally about $140 per square foot average in Fair Oaks. It would probably cost you that or more per square foot to buy the land and build. Another plus is that it is much easier in today's lending environment to get a loan for an existing home than to get a construction loan.

May I suggest a fixer upper that you make "your own" through improvements. Probably would be the best bang for your buck.
Web Reference:  http://SoldByErin.net
1 vote
Lance King, Agent, San Francisco, CA
Mon Dec 5, 2011
We were looking at investment properties in that area last year, and I would guess that Jim's numbers are right. Can't see any reason to build unless you have some dream home vision that you can't find anywhere else and have money to burn.

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
1 vote
Jim Walker, Agent, Carmichael, CA
Sun Dec 4, 2011
The cost of a lot, grading, connections to utilities, permits, school mitigation, parks mitigation, architectural plans and blueprints, construction financing fees, materials and labor, hardscaping,lansdscaping, and fencing will be about two or three times as much as you would pay for an existing home in Fair Oaks of the same size and quality in an comparably desirable location.
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