Apartments for Cheap

Questions and Answers

Your Questions About 3 Bedroom House Plans 1000 Sq Ft

June 7, 2012

Mary asks…

Around how much will it cost to buy 1000 sq ft of building land with planning permission?

i am thinking about buying a piece of land to build a big house which has 3 bedrooms, 2 full bathrooms, 1 living area, garage, 1 kitchen 1 small storage room, basement and a big room inside the house to build a pool. i am thinking of spending 300k pounds on the house itself. i cant decide how much land will i need to buy to build this house and around how much will it cost. i dont think i need 1000 sq ft like i said in the question.
so please help. i know land cost will vary in different places but i just need an estimate.

Administrator answers:

1000 square feet is not very much. I think you need to research this better.

Donald asks…

around how much will it cost to buy 1000 sq ft of building land with planning permission?

i am thinking about buying a piece of land to build a big house which has 3 bedrooms, 2 full bathrooms, 1 living area, garage, 1 kitchen 1 small storage room, basement and a big room inside the house to build a pool. i am thinking of spending 300k pounds on the house itself. i cant decide how much land will i need to buy to build this house and around how much will it cost. i dont think i need 1000 sq ft like i said in the question.
so please help. i know land cost will vary in different places but i just need an estimate.

Administrator answers:

You are right you don’t need 1000sq ft of land you need like a minimum of 10000 sq ft and it depends entirely on where you live as to how much land is.

Nancy asks…

Are there any loan programs out there that would allow me to refinance my home at today’s present market value?

Hello,

I have a question for anyone out there that may be able to shine some light on our situation. My wife and I live in Rhode Island and are in the process of expanding our family. We recently had a baby boy and will soon attempt for child number two. Everything in our lives seems to be going as planned with the exception of our current housing situation. We currently live in a two bedroom 1000 Sq. ft. condo and we are busting at the seams. It is time to start looking for a larger home but we like many owe more than the home is worth. Probably about 50K plus upside down.

We both have strong income and good credit so purchasing and affording a new home is not the issue, it’s what to do with our current situation. I feel very stuck. Ideally I would like to rent the condo and hold onto it as a future investment, but being so upside down makes that thought less and less appealing. And selling it would have to result in a short sale and I’m pretty positive that negatively affects your credit.

So my long and winded questions are:
1.Are there any loan programs out there that would allow me to refinance my current home at today’s present market value? The reason I ask is because I vaguely heard about such a program.

2.What do you recommend about getting out of my home and into a new one without destroying my credit in the meantime?

3.Is there another option that exist that would be a good fit for my situation

Thank you all for your help on this.

Administrator answers:

No one will allow you to refi while you’re upside down. No way.
A short sale, by the way, is only one baby step above a foreclosure. It destroys credit.
Just rent the damn thing.

James asks…

thinking about adding on to my house, how much does it typically cost?

thinking about adding on 3 total rooms, a bedroom, a rec. room and another bathroom.
probably wont take up more than 1000-1200 sq ft.
how much does it typically cost to have that planned and built?
well, it would be ground floor…and nothing spectacular or fancy…thing is, i can’t afford a house..got good credit but not the income for it but my parents want to add on and let me have the add on.
they have a rancher.

Administrator answers:

It will most likely be cheaper to buy another home that suits your needs rather than adding onto the one you know have. If you could do it all yourself it might be a good choice but to have it done, you may be better served with a different home.

Mandy asks…

Buying a Foreclosure/Rewire house?

So we are first time home buyers and wanted to get a fixer-upper so we could make it into our cozy little dream traditional style ranch house. The house was built in 1950 and is a 3 bedroom 1 bath approximately a little over a 1000 sq ft. The house is appraised at 67,500 due to its lack luster and none HOA community, we are getting it for about 50,000. The house has to be rewired, gas lines capped, drains fixed and the right outlets in each area, at our cost due to it being an sold as is where is deal. Plus our mortgage company requires this done ASAP.
Anyone have any guesses and how much this is going to hit us cost wise, and if we should even deal with this house, we have a contract and planned closing date of march 31st. But we still can back out. Thanks for all advice given!

Administrator answers:

Several thoughts:

1) Costs will vary per area. Where I live in CA costs for handymen is usually 35 an hour while a place I have in Ark costs 7.50 an hour. I’d recommend getting bid for all work that needs to be done. Your agent can provide you with recommendations. Get bids for at least 2-3 people per job (electrical, plumbing). Find out if they would be available in the beginning of April so that you know that you can have the workers set to start.

2) Make sure you know exactly what the bank is going to require you to get fixed. I’ve never seen a whole house needing to be rewired….even 1920 builds. The worst wiring, per my understanding from electricians I’ve worked with, is 1970′s wiring; where they used aluminum instead of copper. But I’ve never even heard a bank requesting that that be corrected.

3) Make sure that you can get insurance. If the house is bad enough that the bank is only giving you a limited amount of time…it is important to verify that you can get insurance. If you can’t, banks don’t loan.

4) If you didn’t get your own inspector, do so. It is worse the expense to get a great inspector that can walk you through the problems. I know of a couple who decided to use the seller’s inspection report and, after they bought it, they found out it had so many addition problems. It destroyed their relationship.
Make sure you have a full understanding of the house and the costs (by getting real bids). A realtor can get you in contact with good reputable people.

Good luck!

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