I see smaller lots near the city in "ok" areas going for under 50k, something like pic-related.
Is it realistic to have a builder build something like the adjacent houses, but obviously new, for under $200,000?
I seem very hard-pressed to find any real information on this. The things that come up on google are all about micro-houses. I do see people buying these lots, but it's to build a $700,000 McMansion.
Builder here who does 99% of my building in in-fills.
Right now I'm spending around $150k to do a 1800 sqft house.
That's with the land purchase, and me doing the electricity and cabinets (not trim).
So it is possible. The big problem is the building lines.
A 50x100 lot may have a 25ft setback in the front, and 7' on sides. So you have to try and find a good design with a width 36'.
You'd have to know more about local ordinance/code/etc. There may be a minimum size requirement for new structures to receive a certificate of occupancy. Those sorts of requirements can be a big factor in why a lot has sat.
I can only say from a UK perspective but:
You'll need to check that it doesn't have pipes/cables/septic tanks preventing building work. You'll need to check local planning restrictions ;they may say something like 5m clearance from a mature tree for example, minimum distance from a toad turn/junction and a bunch of "minor" conditions that would make building on there impossible.
Often you'll find the plot's owned by the house it neighbours and they'll be willing to sell it to you with the understanding you'll build on it but be wary of NIMBY neighbours who'll raise any objection they can and making getting planning permission a nightmare.
A lot of the time these plots are genuinely fine to build on and the only reason it's vacant is because a developer doesn't want to spend ages building 1 single house for $50K profit when they could go for a plot where they can build 10 houses or a block of apartments
why cant you prop a god damn double wide on the god damn property?
or even a shitty RV?
I want to live god damn bicycle distance from whereve i need to go
Zoning
nobody wants to live next to people like you
Then they came move.
yes it can be done
and ony seoson real estate vets do it
due to the work involved
1 get lot cheap
this is the part you most mess up
you have to look in neighberhoods find lot and ask or find records pertaining to owner and make offers
most lots are owned by the adjecent house usually due to in the 70s it was the commmon thing to do was buy next lot
so you have to do a lot of leg work
but if you call enought
you can get a lot in a nice city for like 80 100k
im talking nice city , fricking san diego
2.zoning and taxess
zoning isnt actually that much of an issue but you do have to find if its residential
usually is tho because next to a house
the taxes are actually more important
as some of the lots are still connected
so you may have to subdide the lot and this involves either a lawyer or title i forget, im actually not this smart lol. but it cost like few kmoney 4 5
3. cost of sewer hookup is prob the most expensive part. can be 20 30k in most high end cities, depends on the city maybe 5 in the more rural
4. finally you are done afer the sale of course that is usually cash , but you can get a lot for deff under 150 in most of the country if you look, next to fricking nice cities too,
5.finally you get a fricking mobile home or fabricated home, you get lease for like 20 years or cash if you baller
pay usually 70k for everything but honestly in the city you can get the units for 50k plus instlalation
they istall everything hookup to power and and your sewer line
they come pllace the house and on whatever foudnation they decided on and in a day you basically have a full square house
some mobiles today are pretyt fricking nice
its a real estate trick
as they see the lots no one else does
buy them,
u can finace them through the bank if you tell them you are building a house immedieatly
they help you finance the mobiles like i explained
factor it into the loan
lets lay 250 loan for lot and house
then they rent them lol
they have a ton
know this all depends on the city, lots can ranch from 4k to 150
and that is an amazzing deal
with the house and sewer taxes
your looking at a 250k mortgatge in a place where houses go for 1 2 million
know if you choose a city lets say vegas
you can do it for 50k with a fricking mobile trailer prob paid 20k for new
know this is all saying you do a ton of work
a ton of arguing
talking to people and financing
if you have cash 250 is enought
if you get a mortgge
you need to go to bank and place downpayment bu they will give you loan for lot and house only, not lot alone,
actually this guy explains it better
The frick is that car
distorted by the google streetview camera
Alfa Romeo Milano
Your city zoning will make a big difference in whether it's viable to build on an infill lot.
My city semi-recently created a new zoning classification specifically to make it easier to redevelop infill lots, and there are virtually no lots that are too small to build on now. And even if a lot is at the absolute smallest size you can legally build on (30 feet wide, 117 feet deep), you could legally build a house with a 1,848 SF footprint.
So my advice is to do your homework on your city's zoning code.
Oh, adding to this, if you do build on an infill lot, you might be eligible for incentives from your city or county. My city refunds part of the water and sewer tap fees for building on an infill lot, and if you build in a certain part of town you can get a big rebate on the increase of the property taxes. But you have to apply for both of those incentives before you build.
Another thing to keep in mind when looking into the feasibility of a smalll/infill lot for building a residential structure in urban areas is that off street parking adequate to serve the number of occupants is usually required and driveways and other related infrastructure have certain specs and that can eat up real estate and limit your options.
For instance, a driveway opening will have a minimum curb cut width and that cut may have to be X number of feet from the lot lines on each side...I've seen lots orphaned when all three numbers are larger than the lot width, where not even a parking lot could be built in a dense population area with parking issues from a lack of space (because garage to dwelling conversions were allowed in that area decades before).
There's also wheelchair ramp pitch and other ADA stuff related to sidewalks near parking that can dictate how far back a car must park and some places may have rules mandating covered/enclosed parking or fencing to obscure "stored" vehicles, which may be defined as anything that is parked more than 72 hrs...things like boats and RVs can trigger a big hassle if someone wants to be a PITA.
It would be around 600K to build a 1200 sqft house in SoCal, and somehow, builders only make $15/hr. Why don't we have machines do all the construction works yet?