Is it cheaper to buy a house than to build one ?

Here is the deal. there is an empty piece of land near my home in Potomac falls in NoVA that is for sale. It occurred to me that we could by the lot and build on it.

Lot size is just about 10k sq. ft. Land will probably cost about $180k or so. If I were to buy in this 'hood, a house that is about 2500 sq ft, 4BR, 3+ Bath, with garage, basement and a yard would cost about $550-$650k depending upon level of bling.

Has anyone built a home to their specficiations? How do the financials work out? Other Pro's Cons?

Posted: 01/05/2017 at 2:35PM

Is it cheaper to buy a house than to build one ? -- vt_mughal 01/05/2017 2:35PM

We bought land and built in Arlington -- WuhBuh-DC_Hokie 01/06/2017 09:41AM

Double wide- problem solved -- turkeywinghokie 01/05/2017 5:31PM

Depends on your role -- Baltimore Hokie 01/05/2017 5:21PM

Depends on the local market but if you are your own contractor and you can -- 81_Hokie 01/05/2017 5:05PM

You will learn more about what you want in a house.... -- Freddyburg Hokie 01/05/2017 5:01PM

I am on house #3 at this point so I know what I want. ** -- vt_mughal 01/05/2017 5:11PM

That's how we did our first house right when we were married. -- 133743Hokie 01/05/2017 4:52PM

Construction lender here. A lot of variables in building -- vpidaddymo 01/05/2017 4:35PM

Thanks for the info, hate was to strong a word -- fordham 01/06/2017 09:25AM

Building a house right now. After looking into what we wanted, aka -- riosvt 01/05/2017 4:06PM

There is a huge risk doing what you are asking -- VaTechie 01/05/2017 3:56PM

You definetely want to do some homework on the -- fordham 01/05/2017 4:07PM

Excellent advice on the lien wavers. The builder of my home did not pay all -- 1MetroHokie 01/05/2017 5:05PM

Yea, that is how the law works the landowner is the ultimate -- fordham 01/06/2017 09:19AM

Here's the thing, it can be cheaper to build if... -- JLM-Hokie 01/05/2017 3:48PM

CHECK INTO FINANCING FIRST!!!! banks hate land, so they -- fordham 01/05/2017 3:17PM

Financially...not sure there is a universal rule...might be, might not be. -- vthokieq 01/05/2017 3:06PM

If you want to cap expenses BUY-if you have unlimited time and money build ** -- bigbadbird 01/05/2017 2:55PM

Look into the prefab housing made from structural insulated panels ** -- MEHOKIE 01/05/2017 2:55PM

Depends on what you want put into the home and what you're willing to -- Hokie madman 01/05/2017 2:50PM

At least some of that depends on potential for appreciation -- typed by ben 01/05/2017 2:43PM

I think the same can be said, if not more-so, for buying one. ** -- thankbud 01/05/2017 2:50PM

Is it cheaper to buy a house than to build one ?

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