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Is it cheaper to bulldoze your home and rebuild, or just move?
We live in a home that has never had any professional work done on it. Basically, since 1961, anything that's been fixed, has been fixed by an amateur. Now, we're paying the price. $3000 just to fix the electrical wiring, a few hundred here, a few hundred there.
We really like our neighborhood. Is it cheaper to bulldoze and rebuild? We owe about $15K on the house.
3 Answers
- JeanbugLv 610 years agoFavorite Answer
Why don't you get some bids?
We bought the house next door a few years ago, and figured we'd save money by gutting the house and rebuilding it using the existing the frame work and foundation as a starting point. It ended up costing us far more than if we had just bulldozed the place and started over.
If you think your house needs extensive work, then bulldozing it & rebuilding it probably the most economical option. If you are looking at just updating the systems (plumbing, HVAC, wiring) and installing some new paint, carpet, insulation, windows, and a new roof, then you'll be money ahead by just remodeling.
- falsi fiableLv 710 years ago
Construction costs will run you at least $150 per square foot. If you live in a 1500 square-foot home, you will pay $225,000 to rebuild. Does that answer your bulldoze question?
In order to build a duplex, you would need a zoning variance from R-1 (single family) to R-2 or R-4 (multiple families per unit).
- 10 years ago
Maybe you could think about building a duplex. You would be no worse off because the other side could be sold or rented. There is also a lot of cost in moving too.