Is it better financially to build my own house or to buy a house and fix it up?

I'm a architect and a historic preservation specialist, so while I would absolutely LOVE the opportunity to design my own home (which I can then use as a model for potential clients,) I am also a fervent proponent for adaptive reuse and preservation, so I would be up for finding a house that fits our needs and then renovating it to become our dream home.

We would be selling my husband's childhood home and using the profits (over $120,000) to go towards buying/ building our new house. This would be right around the time I have finished paying all of my student loans and will finally start trying to have a family.

I'm from Indiana, and plan on living in the Louisville area, so approximately $100,000 in the real estate market would pay for at least 1/3 of our mortgage or the cost of designing and building our own house from the ground up.

Your answer

Thanks for contributing an answer to Personal Finance & Money!

  • Please be sure to answer the question.
  • Make sure to provide sources for your information such as references or personal experience.

But avoid

  • Asking for help, clarification, or responding to other answers.
  • Making statements based on opinion.

asked:

[years] years ago

viewed:

630 times

active:

[years] years ago



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.