[13blackcats]

We've been here around 5 years now, no intention of moving. We're thinking about maybe buying a house this year or next. The thing is, we don't like HOAs, we don't like 5,000 sq ft lots, and we don't particularly care for the style of housing out here, though that's the least important of the 3 issues. Add in that we'd prefer to stay in the southeast where we have established some good family friends for us & the kids.

Can we buy a half or 3/4 acre lot somewhere and build something on it? What kind of money does that even cost? Are there houses already built on larger lots (in safer areas) that don't cost 500k and up? We could easily buy up to 250 right now, but based on looking at sites like Zillow (I know, not very accurate) I'm not sure that amount is going to get us what we'd prefer.

Thoughts?

[Coco6163]

OP, we need more info to respond with an answer. What size house do you want? Do you have any amenities/features in the house that are "must have" or must not have"? If the question is merely, can you build a house on a half or 3/4 acre lot in the SE valley for $250k or less, the answer is almost certainly yes. Whether it's the kind of house or location you want, however, remains to be seen. For that part, we need more info. Of course, the best answer will come from a real estate agent.

[13blackcats]

Thanks Coco163! Yes, the question somewhat is just can I build...etc. Because I've never really considered if or how average people bought a piece of land for a custom house. I assumed that was just million dollar homes! I did speak with lvoc through DM, which was very helpful.

To answer your questions though, if I built what I wanted, approx 1800 - 2000 sq ft ranch, 4 bed, 2.75 bath, good insulation, double hung windows, finishes mostly irrelevant as I could upgrade over time. Location, don't care too much about the schools as we expect to homeschool. Safe enough for kids to roam the neighborhood. We prefer old Henderson but haven't made a firm decision if we will only be looking there or venture a bit north or west of there also.

[airics]

i don't think it could be done at 250k.... case and point.. northwest near aliante. 9,000sf plot sold for 60k, no hoa... then they built a 2400sf single story.... original price asked was 480k.. sold i believe for 385k. it was on elkhorn and was a new build.

[Camaro5]

When you figure in all the costs of building, acquiring the land, an architect, and everything else, it would be difficult to build a 2000 sq. ft. house for $250K. Maybe not impossible, but it would be tough.

[Coco6163]

Originally Posted by 13blackcats

Thanks Coco163! Yes, the question somewhat is just can I build...etc. Because I've never really considered if or how average people bought a piece of land for a custom house. I assumed that was just million dollar homes! I did speak with lvoc through DM, which was very helpful.

To answer your questions though, if I built what I wanted, approx 1800 - 2000 sq ft ranch, 4 bed, 2.75 bath, good insulation, double hung windows, finishes mostly irrelevant as I could upgrade over time. Location, don't care too much about the schools as we expect to homeschool. Safe enough for kids to roam the neighborhood. We prefer old Henderson but haven't made a firm decision if we will only be looking there or venture a bit north or west of there also.

I agree with those who have posted above. To build this kind of house on 3/4 acre lot is likely very tough to do for $250k. I'm certainly not an expert on these matters. But if your home construction is in the average range, you are probably looking at about $120-125 a sq. ft. Then you have to buy the lot. And you want a location relatively near Henderson or Las Vegas. The math doesn't bode well for you. If you are fixed on building a new home, I would consider: a) increasing your budget; b) decreasing your house size; and/or c) expanding your possible location to more rural areas or smaller cities like Boulder City.

[WestieJeff]

$125/sf is a good starting place for an average home with average finish (wood laminate/carpet/tile, average granite, RTA cabinets) assuming you're acting as your own general contractor. That'd be no landscaping, limited concrete work (driveway, small patio), and probably no block walls (block walls get expensive when they are wrapping 1/2+ acre). Add 10-15% if you're hiring a general contractor.

1/2 acre lot varies depending on location but 75-110k is an average. You want something with all utilities at the lot since even a short run of water/sewer is extremely expensive. Something that has block walls all the way around already paid by neighbors would help out.

I still feel like it's a hair cheaper to buy than build, but cost wise it is close and building you get exactly what you want.

[jjameson922]

I'm a former realtor and have also had 4 previous homes built. If you want to look at lots and what 250K buys you in an already constructed house, look at ZipRealty.com. Wanting 4 bedrooms, 3 bathrooms and I assume a living area, dining room, kitchen and laundry room, you're dividing all those rooms up in an 1800-2000 square foot foot print and if it happens, you'll have little, bitty closed up rooms. And while doing this, think resale. It does happen. And figure in comesurate garages, driveway and a large portion of LIDS and SIDS. Talking 250K, there's no money for architectural details; high ceilings, fireplaces, granite, columns, pot shelves, niches, stonework and decent vanities, cupboards faucets or decent appliances. It basically would build a teeny, tiny G.I. looking house with no frills and no money even left for landscaping or fencing.

If in your shoes, I'd look for a distress sale and scale down to 1600 sq. ft. and you might find it.

[SportyandMisty]

See 0 Arrowhead Trl, Henderson, NV 89002 | MLS #1583103 | Zillow

This is in the Southeast.
It is 1.25 acres.
Asking price is under $175K.

[13blackcats]

Oh man, I worded my original post really badly and I apologize for that! When I said I could buy now @ 250k I meant a preowned house, on the market, not a new build. I could buy that but it wouldn't be what we want. Then I started to wonder how much buying a lot and building what we wanted would cost and if that was even something people did.

So, yes, I think I'll need to either compromise a lot, or wait/keep renting until I get to a place where I'm comfortable paying 300k +