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re: Buying land and building or buying house and remodel
Posted on 5/21/13 at 8:50 pm to islandtiger
Posted on 5/21/13 at 8:50 pm to islandtiger
quote:
I was just giving an example of why the land value:house value ratio is really meaningless unless your only consideration is resale value. Land is what matters to me and I would be happy with a $100,000 cabin on a $1 million piece of property. My wife does not exactly share my view so our land:house ratio will not be so unbalanced.
I get where you're coming from. The big difference is we're talking prime real estate. As posted by others, you spend 1M on 1000 acres in Breaux Bridge a 100k cabin is fine. The price is irrelevant.
Buy an acre on the harbor in the Hamptons for a mill and build a 100k cabin and you've lost money immediately.
Posted on 5/21/13 at 10:13 pm to ItNeverRains
Understood. If I could find 1000 acres near BB for a $1 million, I would buy it tomorrow!
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