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

Asked by Wingfooted, Greater Heights, Houston, TX Mon Oct 12, 2009

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 ?

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Chris Schilling’s answer
Chris Schill…, Agent, Houston, TX
Sun Feb 5, 2012
Given your great street location and lot size for the Heights, you do have lots of options. Couple of clarifying questions first:

1. If you sold- what do you think you would net, and where could you move to with that amount of money that you both would enjoy?
2. How averse are you to a remodel project and would you try to live in the property during a major remodel and if not, where would you go for the time it took to complete?
3. Tearing down and starting over take lots of time and energy.....it can be a wonderful experience with the right contractor and banker and a freaking nightmare without the right team members. Does your current work life allow you the freedom to take on this large a project.

I can help with each and every choice you have here and would love to see your place to help make a final determination. I owned a house on 13th and now live in Garden Oaks. I have done this type of project for clients and myself about 7 times now...with mixed results. My wife has promised to use her knowledge from CSI to kill me in my sleep and dispose of my body if I opt to ever put her through it again....lol

If you liked my questions, make sure to give me a "Thumbs Up" and drop me an email so we can talk offline. I also appreciate being awarded the best answer or in this case the best questions....

Good luck to you either way!

Chris Schilling, ABR, CRS, GRI, GREEN
Turbo Realty
Web Reference:  http://www.turborealty.com
0 votes
Betina Forem…, Agent, Austin, TX
Sun Feb 5, 2012
I love the Heights and I am curious to know what you decided. Do you have photos of the finished product? It would be great to see.
0 votes
Karine, Renter, Howesville, IN
Thu Feb 24, 2011
What did you decide to do with this property? I would love to know the steps you took and what came of it?
0 votes
Wingfooted, Both Buyer And Seller, Greater Heights, Houston, TX
Wed Oct 14, 2009
my opinion (not my wife's) is that the 'bones' are non recoverable.

zip code is 77008. 14th block of tulane street.
0 votes
Andrea Mazzo…, Agent, Houston, TX
Tue Oct 13, 2009
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.
Web Reference:  http://www.AndreaMazzoni.com
0 votes
Amber Carril…, , Houston, TX
Tue Oct 13, 2009
Ok, do you think the "bones" of the home are in decent shape? What zip code are you in?
0 votes
Wingfooted, Both Buyer And Seller, Greater Heights, Houston, TX
Tue Oct 13, 2009
yes we currently occupy the main house, it was marginal when we bought seven years ago - furnace, insulation, roof all need to be replaced.
0 votes
Amber Carril…, , Houston, TX
Mon Oct 12, 2009
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
Web Reference:  http://www.ithomesonline.com
0 votes
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