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Buy existing home, or build on land - questions...

538 Views | 0 Replies | Last: 6 yr ago by PFG
txcajun
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AG
I've been going back and forth with this, and thought it'd be helpful to get some local/outside opinions. My wife and I own a 26 acres in Milam county, as well as 18 acres in Burleson county. The land in Burleson county is a vineyard in progress w/ 2 acres of grapes, so far, and her family is planning on building on that piece of property. We've looked at existing homes in the College Station/Bryan area, and didn't see anything we liked, we prefer to be out in the county on 5 acres or more. We're both very conservative, and were raised in the country, so just feels more like home than in town. Right now we're considering building on the 26 acres, but the overall expenses of getting a water well (550' which costs 17k from Brien Water Wells) and septic really push the costs to the top of our budget. We've got bids from a few builders, but just don't know about the overall investment of building in that county versus buying existing in the College Station area. I guess our worst fear is building something, having to move, and not being able to sell it.
PFG
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AG
I would suggest waiting until you and your wife have the kiddo and survive the first 3 months (about the time you can get them sleeping through the night) before making and big decisions.

That said, my wife and I are building a home on some property and we are having a blast. There is stress - financial and decision making stress - because you want to get it all right. Not sure what your home budget is, but if the 17K to drill a well and the cost of septic system are giving you pause...don't do it. There is NOTHING cheap about building a home. The client - you and your wife - pay everyone. You pay the builder, the bank, the surveyor, the title company, the engineer, the architect, the well drillers, the road builders - any and everything that needs doing, comes outta your pocket. Then there's property tax as an additional little zing. Nothing cheap about it.
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