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To Move and House and Renovate or Build New

I live in the Houston area and we do not have a lot of history in our City and surrounding areas. My husband and I have always wanted an old house we could fix up and enjoy but we also like living on acreage. We have yet to find a perfect place. We went ahead and purchased 30 acres and are trying to decide whether to build new or find an older house that is not big enough and renovate. What is your advice. We found a house in a small suberb of Houston that is being moved to make room for a much bigger newer house! It will be $40k to move and the house itself is included in the cost. The house is 2 bedroom and 1 bath with 1200 sq ft. We are in need of at least 2500 sq ft with 3 bedrooms and at least 2 bathrooms. I hate the thought of building new because you dont get the charm that comes with an older house, but I also want to keep this thing cost effective. Can you give us some advice?

Re: To Move and House and Renovate or Build New

You have to decide what you want to do, yourselves. But first, learn all you can about the pluses and minuses of each alternative.

In a project like this, funding is the biggest issue, so there is your starting and ending point. And whatever you calculate your per SF cost, add 10% for the unexpected.

Personally, I'd rather build new. I know I can have any exterior style I want, so that's not a major issue. I also try my best to avoid making alterations, mistakes, mis-estimates and bad judgement. The worst that can happen in such situations is to run out of money, and believe me I've seen a lot of deserted and abandoned money pits.

Good luck.

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