Quote:
Originally Posted by Formula260SS
I don't disagree with you on that
The same person I mentioned is moving to Florida into a new build down there, those details I'm not totally up to speed on but will ask him.
I do know he's paying about 765K for 2600 sq/ft with the pool and Leni right on a golf course around Sarasota. (it is not a 55 and older).
If I do a quick calc based on a guess of 100k for land I'm at 665K for 2500 sq/ft = $266.00 sq/ft.
I'll call it good with this post unless I figure out where I'm going wrong - I'm a numbers guy and just not getting it. I never claimed to be the smart guy in the room....  Thanks for the good discussion |
I am in Florida and I have been here for six years now. I live in a development that is still being built so there are resales as well as new homes. The resales typically sell for less than the new homes, although right now during Covid, and because of lack of inventory, the prices have skyrocketed. We have gone from at least 20 homes on average for sale down to two right now. Homes stay on the market only a few days if the price is right and with multiple offers.
There is a base price to the new home but you can add as many options and upgrades as you want. This really determines the price per square footage. So in this regard, you cannot compare one 3000 square-foot house to another because each one is different depending on how much extra they spend on add-ons.
And just like everywhere else, there are some lots that are better than others and they carry a higher premium.
So I think you will drive yourself crazy if you try to apply the same ”Formula“ to each property.