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Building and selling

Kelli Dallimonti
Posted Feb 8 2024, 16:30

I have a lot in a neighborhood with no HOA that I inherited so I didn't pay for it and I'm getting offers from a builder in the neighborhood for around $35k. Someone else said what I should do is build a house for $300k and sell it for $400k? Would I even make the $35-40 I'd make if I just went ahead and sold it? The area is rural now but growing quickly. I have another lot that I paid $60k for and I'm getting offers of $130k for it. The homes in that neighborhood are worth 1mil. and wonder if I could do the same thing?

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Peter Dukaj
  • Flipper/Rehabber
  • Michigan
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Peter Dukaj
  • Flipper/Rehabber
  • Michigan
Replied Feb 8 2024, 19:04

Builders are definitely trying to gobble up land. I have a parcel in Michigan just waiting to pull the trigger on building

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Replied Feb 10 2024, 11:48

Yes you could!  I am a builder in the area and you can make at least twice as much depending on the area of Charleston you are in and the value of the homes in the area.  Let me know if you need help with it.

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Swati Linder
  • Real Estate Agent
  • Charleston, SC
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Swati Linder
  • Real Estate Agent
  • Charleston, SC
Replied Feb 27 2024, 18:58

You need a CMA on the properties. Also some things to consider are...
1. Clear title? 
2. Land locked or easements in place? 
3. Taxes? 
4. Flood zone? 

Happy to chat more if you'd like! 

All the best,
Swati