Baton Rouge Real Estate New Homes: Why You Should NOT Over Build Above Living Area Size of the Subdivision You Choose. Choose the right lot in the right subd…
Baton Rouge Real Estate New Homes: Why You Should NOT Over Build Above Living Area Size of the Subdivision You Choose. Choose the right lot in the right subdivision that will compliment your home and raise its value over time.
This is Video Number 1: Don’t Over Build For the Subdivision You Choose To Build In…
Lesson: If the average or predominant home size is around 2,300sf heated and cooled living area size, with smallest home in 2,000sf range and largest home in 2,600sf, then don’t build a 3,300sf living area home in that subdivision and expect the home to appraise for what it cost you to build it. Before you have a set of plans drawn up, Ask an Appraiser if what you plan on building in such and such subdivision makes logical sense for that development.
The home in this video is located somewhere in Greater Baton Rouge and was built in last 2008 and finished in 2009. Approximate cost was $540K and built in a subdivision where the average homes were selling in the $248K to $300K range, meaning it cost more than $240K more than the average or predominant home was selling for in 2009. Home was also over 900 sf larger than average home in subdivision. Plus, no other homes in subdivision, much less in that housing market, had such an elaborate $50K to $60K party area behind the home.
In the subdivision this home was built in, this home would not have appreciate much over time because it was over $240,000 over built and over improved.
I’LL LIVE THERE FOREVER NOTE: If you plan on living your new home forever, then build what you want, where you want. However, my 21 years of experience shows that divorce happens, job transfers happen, sometimes the regional economy goes south and you need to move for a better job situation, etc..
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