Wow, that's pretty high. As the house gets bigger, a lot of costs like foundation and plumbing gets reduced per sq ft, so when you're at 4000 sq ft, the cost per sq ft is less than if your house was only 2000 sq ft.NotRobot wrote: ↑Aug 10th, 2017 3:40 pmI'm pretty sure you couldn't build 55 Wedgewood for 500k.
The standard rate in this neighbourhood is about $200 per sqft and this home is close to 4000 sqft so I would say cost would be $750k to 800k
My neighbour builds in this area and he showed me the costs. I don't think he was lying.
This link indicated a $500K price for 4000 sqft assuming 2 story house built by builder ($400K if self-built).
When I get house insurance the quotes I get for house replacement cost are much less than what I paid for the house. Maybe this neighbourhood as special requirements for permits or traffic control that inflates the prices. Sounds like there's a lot of variance here, might be worthwhile for folks to buy the dumps in this neighborhood, replace them and flip for a pretty decent profit. More than half the homes on the streets there are old bungalows.
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