Add 4th Bdr And 2nd Bth Or Tear Down And Build New?
Hello all,
I was able to pick up a 3br 1ba SFH in my area for about 120K under FMV (seller needed out and fast closing). Paid cash for it so no mortgage on it. My question is, would you just do a rehab and add another bedroom and bath or go for tearing down and building new? How much ball park range does it cost to build a new say 3000 sft house? New construction in my area goes for minimum $700K and I got this place for $250K. If i did just the rehab, i can probably fetch about $400K. I do have about another $250K of my own cash to use.
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