You absolutely Build if you have any chance. $750K is plenty to build a very nice home.
If you found a home that met your needs and location I would buy.
build...no question about it. but buy outside of flood plains and in places with a healthy water supply. but drainage. Personally would avoid beachfront at all costs..put in RV hookup...buy a used RV and stay in it until the house is done then sell the RV...houses go up really quickly...just want to make sure where they are built is compacted well and not going to shift or swell or shrink much after you build..don't build on landfill helps that out. Building a house you can have exactly what you want instead of exactly what someone else wanted.
Nah. Rates are still historically low. 5%. Yes they were lower but they are not at 9 or 10%. Anything under 7.5% is still better than most of the last 50 years.
and buying existing houses also comes with unknown expenses...my son has had to replace plumbing, air conditioning units, roof and build a new bathroom since he bought his house in 2017....it's a nice house but he would have designed it differently if he'd built it and remodeling has the same material costs that building does except for more labor factored in the cost...
People weren't paying 500k... 700k..... 900k for houses when the rates were a lot higher. My parents paid like $20k for their first house in the late 70s. It's simply not the same ball game.
Another way to look at it is If you are building your own home yourself you will not need the amounts of materials as quickly to keep the crew going. Another important issue is having somewhere to live while building. Sometimes that is a trailer on site? No problem getting Concrete or foundational materials. Wood for framing and siding/roofing is available. Most of the electrical and Plumbing materials are available. Once the roof is on the building can slow down if you are building it yourself.
For my son his bathroom tiles and counter tops were the only holdup but the framing, water barrier, electrical, plumbing and fixtures were all available...some things you might compromise as far as style of faucet etc but he just finished turning his old laundry into a big master bathroom a few months ago...they also moved his laundry setup into his garage and plumbed and wired it...all in all it ended up costing 28K but increased the value of his house a lot more than that. It's why I suggest an RV hookup with power and septic installed ...then you pour a foundation...from there you can take your time and not be stressed for a finished product right away....I think in rural property terms though and forget some folks want an urban home..they are different scenarios
Yeah the numbers I have heard is last year prices appreciated 17% this year it should be closer to 3-5%.
That's exactly what I've been seeing.
More so than it has been for sure.
you forgot to mention "crypto" is what you named your new pirate ship though and it's spelled "on sail"
Glad we did exactly that. Shittiest house in the best neighborhood we could afford.
