triplegmn asked:
What are the basic costs per square foot prices of homes vs remodeling an existing home?
Kansieo.com
What are the basic costs per square foot prices of homes vs remodeling an existing home?
Kansieo.com
What is the average cost per square foot of buying a new home vs remodeling?
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That’s really not a question that can be answered. It’s going to depend upon the quality of the construction. Cheap residential construction can start around $80/square foot and will go up from there, with high quality construction going from $120/square foot and up. This doesn’t really include the property which can vary.
Remodeling is difficult to price because sometimes you won’t know exactly what will have to be done until you get into it. It takes a lot of experience to bid remodeling work correctly.
Another factor is where in the country you are. Some areas cost more than others depending upon cost of living and land value.
The question you want to be asking yourself is “where do i want to be in 10 years ? 20 years ?”
IF you love your house and want to grow old and die there, put money into it !
IF you plan on moving at any time, just wait on a renovation or until your future goals are firmed up.
You need to specify the average price of a new home in the area you’re interested/you can afford. House price varies by location a lot. Next, picking a realtor and talking to him/her about this question would be more practical. It really depends on the housing price, the location, and how you want the place remodeled. And most importantly, your budget.
I agree with steele Luv,Im not sure of exact square foot prices but my personal house could be an example.I live in a south suburb of chicago.We looked at new houses going for around 4 to 500,000.Those houses are from 3 to 4000 square feet.My house had 2200 ,since I like the neighborhood and figure to be here atleast 10 more years I put a two story addition with 800 square feet.Now I have 3000 Im completely happy the way it turned out.Addition cost me 45,000.00 but I did alot of the work myself.My mortgage would have doubled if I moved.Most people said I wont get my money back but if I sell today Ill get most of it back plus my original equity.Plus those new houses only 1 mile away are paying triple my taxes and the builders are doin crap work.Addition was right for me.If you like where youre at the fix it up and stay.They are doing it in all the better neighborhoods in and around the city.
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