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Thread: realestate building question
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05-11-2017, 01:22 PM #1
realestate building question
I am looking at building a couple of houses. The will be less than 1000 sq ft each mabe around 800. I am wondering if a 3 bedroom 1 bath would be worth more than a 2 bedroom 2 bath. I am not sure if I am going to sell them outright or hold as rentals. I still need to learn more about that. I think the rental income would be about the same as I think there is a ceiling on what people can pay. open too any opinions.
off your knees Louie
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05-11-2017, 02:05 PM #2
If your market can support rents at worthwhile multiple of your inputs, do it.
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05-11-2017, 02:09 PM #3Funky But Chic
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I'd go with the 2/2 but it's just a gut feeling, I don't have any data. It'd be better to live in is why I guess.
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05-11-2017, 02:41 PM #4
1,000 sf 3 bed 1 and half bath.
800 sf 2 bed 1 and a half bath.
Never do just 1 bath.
As a rental it will pay off. Also what is your demographic. Students, families etc. If it's families then perhaps build the 1000 and add a 2nd full bathroom.
Signed
Realtor Kenny
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05-11-2017, 03:01 PM #5
3br 800 sqft place, will midgets be living there?
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05-11-2017, 03:04 PM #6
Around here--a college town--overall rent is generally based on number of bedrooms. So a 3/1 will rent for more than a 2/2. But you might be able to get slightly better renters and charge a bit more per room in a 2/2. This is something that should be easy to determine in your area from craigslist, though.
But I agree with Kenny. Never just do 1 bath. 1.5 is OK, or you can do 1.75 with a master and two other bedrooms, where the master gets either the full or 3/4 bath. Then families will be more interested.
Being a landlord sucks ass.
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05-11-2017, 03:06 PM #7
2/2 will be more saleable, 3/1 mor rentable.
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05-11-2017, 03:09 PM #8
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05-11-2017, 03:10 PM #9Registered User
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It's all about what is around the house. If every other house it 3/1 and are doing well, stick with what works. If there are a million not selling, go 2/2.
If these are in family areas, bedrooms will matter more than bathrooms.
If it's in a younger or older crowd, 2/2 is better.Sent via care package with protective strafe run
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05-11-2017, 03:19 PM #10
Call the County Assessor's office. They value houses for tax purposes and should be able to tell you which combination of factors yields the highest value. This is not automatically identical to the current market value, but should give you the info you are looking for.
It would also be worth a phone call to a knowledgeable local real estate agent to find out what is in higher demand in your market, and also a residential real estate appraiser who may be able to give you some useful info.
You are investing a lot of $ into the project, so do your homework first.Gravity Junkie
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05-11-2017, 03:51 PM #11retired ed
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I would slow your roll if planning to build in South Fork. Half of our population is going to die or move to lower elevations in the next 10 years putting a lot of real estate up for grabs. As for rentals, I pay <$600 for a 3/2 with a garage, and that includes electric. Beware, I have seen plenty of people move here with big ambitions, only to leave after a few years with their tail between their legs. Take it at face-value, a stuck-in-it's-ways town with a fun ski area 17 miles away.
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05-11-2017, 03:51 PM #12
How wide will these units be?
Also factoring in a laundry closet will make a 1/2 or 3/4 bath make more sense over a full for rent or sale.
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05-12-2017, 01:05 AM #13
only in South Fork to ski powder in the wilderness area, not planning on building for $150 when I can buy for $100 sq ft.
thanks for the advice. I was planning on the 2/2 and will go with that. our town has very little buildable land available. People buy the same old falling down houses over and over again. I bought the lot from the city when I was getting divorced thinking I would build on it. Ended up going against the maggot wisdom and picking up another place. It is working out fine. So I have this large level lot that the city is telling me I now have to build on or face penalty. This was the agreement on purchase. I am replatting the lot into two building lots which will help me turn a profit on the lot. I want to make the houses affordable bringing them in around $210,000 based on a construction cost of $200 a sq ft plus the lot. good comment about the older crowd. I have been approached by people looking for a level lot to build on for their aging parents. So the plan is slab on grade and possibly handicapped bathroom space.
I am thinking 40x20. Am planning on an attached car port so want to carry out the roof trusses of a cathedral ceiling to encompass the carport. I am working with a local builder on figuring out the trusses. It is an issue to get them shipped here so may need to be in two parts.
thanksoff your knees Louie
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05-12-2017, 05:15 AM #14
Sounds like a tiny house to me, but if they rent, it works.
I would use a scissor truss with a 3/12 interior pitch to ad volume to the space.www.apriliaforum.com
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05-12-2017, 06:43 AM #15retired ed
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Disregard my cautionary tone, you are doing it right. I just hear the local realtors using the Village as a major selling point, and telling prospective buyers that ground is going to be broken every summer. Now, they are even spreading rumors about a ski area being built on Beaver Mountain. I am still amazed we are getting a Dollar General considering the town board is heavily influenced by owners/employees of our only grocery store....maybe some shit is changing!
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05-12-2017, 08:50 AM #16
I own and live in a 700 sqft house. IMO anything smaller than 1000sqft is too small to be a 3br. I would do 2 br, 1.75 bath. Design such that you include sufficient closet space, as that is what most smaller homes are lacking. Maximize useful space by doing a great room style kitchen/dining/living area.
The only reason to do a 3br in a house that size is if your rental market is college student driven, as mentioned above.
Edit to add: a garage is relatively cheap to build and will add a lot more value to the house than a carport.
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05-12-2017, 09:02 AM #17
I had a buddy having a hard time selling a place in Southfork.
From casual observation and only a dozen trips through seems to be a potential spot to retire. How's the mountain biking around there?
I went up the biggest mountain (hill) directly (south I think?) straight out of town and it was mostly just forest roads but the buddy I was staying with wasn't much of a biker.
I can't imagine not building two full baths if considering 1.5 or 1.75.
Just like I can't imagine not building a full garage if considering a carport.
Edit, oh wait I didn't realize what a 1.75 is, yeah that's a good option, I have a stand up shower I like it.
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05-12-2017, 09:32 AM #18
One thing is definitely make one bath a full bath (as in bathtub). That's important for families.
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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