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re: adding on vs. buying a new house
Posted on 4/16/15 at 10:45 am to wickowick
Posted on 4/16/15 at 10:45 am to wickowick
House would sell for 250000 but I am a couple years in on a 20 year loan and still owe around 185000...should have included this. My concern with building is that the 185 plus construction costs would really add up.
3
Posted on 4/16/15 at 10:57 am to Tiger Attorney
Not sure tear down and rebuild is a possibility if you dont own outright or have a special construction loan.
Your mortgage company will not be happy if you tear down something they hold title to.
Your mortgage company will not be happy if you tear down something they hold title to.
Posted on 4/16/15 at 11:00 am to Tiger Attorney
Yes it will... In NOLA? You could always design it right and go with lower grade stuff on the inside till you can upgrade later. Bathrooms and Kitchens are the most expensive part of building..
Posted on 4/16/15 at 11:56 am to Tiger Attorney
If you don't mind sharing, which area of the city did you find a 1200sqft $250k house surrounded by $500k+ houses this far removed from Katrina?
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