Tearing down a house is undoubtedly a daunting task when first taking a look into the process, but we’re here to share and simplify this common procedure for you. According to Elisa LaBram, president of LaBram Homes, roughly 90% of LaBram Homes clients tear down a house in order to build their dream home.
What to Consider Before Tearing Down
Soil: There are many factors that lead to the value of a property but the soil quality is not to be underestimated. When looking into a lot you are hoping to build on, whether it’s vacant or you are considering a teardown, soil-testing is absolutely necessary. Soil determines a huge amount about your home build, to read more on soil testing specifically click here to read our blog on the subject.
Location: Location is key. Is there an area you are hoping to live but no house on the market that lives up to your dreams? Tearing down is a perfect option in that scenario especially in St. Petersburg, Florida and surrounding areas. There are a very limited number of undeveloped lots, especially in sought after locations. We understand that tearing down a house might seem intimidating when looking into it for the first time, but often it is the only option to build a dream house in your desired location.
Considering purchasing a teardown? Here at LaBram Homes, we are happy to show you what your dream house could look like on your potential property. Contact us with any questions or interest you may have.
Typical Cost
The cost of tearing down varies but typically averages between $8,000 and $15,000. Many factors contribute to the cost of tearing down a home including size, materials the house is made of, if there is a deck or pool, size of the driveway, amongst many more.
Buyers often question if it is more cost-efficient to buy a property with a recent tear down or to do the tear down process themselves, but the cost usually ends up very similar in both scenarios. One of the many benefits of tearing down or buying a teardown is that the water and sewer lines typically already exist. Therefore the money spent on demolishing the house is usually offset by the fact that you don’t have to pay to install new water and sewer lines.
Timing
Wanting to build your dream home, but not quite to the building process yet? It is valuable to keep the current house until you are ready to start building the home of your dreams. Renting out the current home for rental income while you design your dream home is a smart way to have revenue coming in while you plan for your custom build.
If you are planning on financing your new construction home, it is vital to wait to tear down your home until your new building contract is signed and approved by the bank, otherwise you are tearing down your equity which can lead to issues with your bank. Please consult your banker to discuss timing prior to tearing down your home.
Length of Process
The timeframe of tearing down a house once started surprisingly only takes about a week. A wide variety of factors go into determining your unique timeline, but the process doesn’t often take more than eight days once all services are turned off and the demolition company is ready to go.
Hiccups can happen and depending on local rules you may only have a certain amount of time to improve the appearance of a lot before fines incur, so it is important to have plans to keep moving forward before you start the demolition process.
Overview
The teardown process is different for every unique home and location, but it doesn’t have to be intimidating. If you have any questions or concerns about your specific home or lot, please contact LaBram Homes at any time and we are happy to show you the potential your lot has. Don’t let a house get in the way of your building your dream home.
