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submitted 2 months ago bySpecial_Shoulder3814
Good family friends looking to rebuild home on existing lot. Super over my head- where to begin? Looking for helpful suggestions and pro tips to pass along.
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2 months ago
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10 points
2 months ago
I looked at buying a lot with a burned-out house on it. The advice I got was:
1) Clear the land, the old house is worth nothing and adds costs to try to reconstruct on the same footprint.
2) Look at the land as empty, and pick the best place to build on it and view it as a new house, not as a re-make of the old one.
Not sure how much that helps, but it seemed good advice. I skipped it because cleaning up a burned out house is in the $50,000 to $100,000 range.
4 points
2 months ago
Could use the old water, sewage, and the fact it has power running to it. And a driveway constructed would help with cost. I imagine one would get a construction loan then combine it with a home mortgage and perhaps insurance can provide for a portion of the down payment to reduce mortgage.
3 points
2 months ago
True, the water and power are running to the house already, and that saves a lot of time and effort. It took me 2.5 months to get power ran one time because of stupidity on the power company vs contractor.
Sadly, the one I was looking at had a dirt driveway, so there was nothing to gain by that placement. But water and power are big... and sewer if you have it. Septic fields cost $16000 to $50000ish based on needs, size, and dirt quality.
6 points
2 months ago
When you get to the planning stage, plan for ‘aging in place’ … no lip/roll in shower stall with hand-held sprayer, grab bars all over the bathroom, few if any stairs, hand surface floors w/o rugs or carpeting… etc.
3 points
2 months ago
All one story too if possible.
5 points
2 months ago
Insurance probably won’t cover it, unless he updated for actual replacement value.
And apparently there are people who ‘help’ you navigate the insurance process, but they are probably scammers.
Source: friend’s house burned down and they hired someone to help, who promised they would get enough from insurance to rebuild. They had to scrap the project because it wouldn’t have covered rebuilding a comparable house.
3 points
2 months ago
if they have insurance, find a 3rd party insurance adjuster. The one the the insurance company will send works for them, they are trying to give as little value as possible. 3rd part adjusters try to get you the max they can as they get a cut of it
6 points
2 months ago
Insurance company + architect.
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