Quote:
Originally Posted by FlyingScot
I think the question for the seacoast friend is whether he is building a modest home, a luxe home, or something in between. For a luxe home, it is "easy" to drop $400+/foot--complex foundation, granite, lots of woodwork, high ceilings, lots of glass, premium materials every place else....On a cash basis, this may be easy for your friend since the land is free. On an investment basis, this may be the only rational choice for a piece of land that is likely super valuable itself.
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I walked through his almost complete home and it is certainly nice but not anything that blew me away. The lot is directly across the street from the ocean with an access lane to the beach steps from his front door. I suppose finding a new house across from a beach with 2,750 square feet for less than $2,000,000 is impossible so the price is probably about right once his lot is considered.