The cost depends heavily on where it is. That means both the general area, and specific neighborhood. I think in most parts of the US, that would be a good price, but not in all parts.
Is that new construction? If that is a new development, they know exactly what the market value is. It's unlikely to be more than a little above or below the market value.
What do you mean "starting at 245k" ? Do you mean that's the asking price? Or do you mean it's new construction and that's a model home? If that's a model home, the actual cost will depend on which amenities you choose. If it's a model, it probably has all the amenities, so the base price of 245k will not be nearly as nice as that one.
From the 1950s to the 1990s houses kept getting larger and larger. They did add more rooms, but they continued getting larger just by making the rooms larger. After a certain point making the rooms larger just doesn't add much, and may even make it worse by feeling less cozy.
Anyway, for a modern house, that house does not look all that big. It's hard to tell from the picture though. If it's 4 bedrooms, then the house is fairly deep.
Be careful going too much by square footage. Yes it matters, especially for the market value and taxes. But the "feel" of a house and it's size matters also. A 2000 sq ft house can feel larger than a 2400 sq ft house. It depends on the layout and size/number of individual rooms.
I'll also point out the fairly steep roof pitch. This is another thing that makes a house look bigger. But it adds nothing at all other than appearance. You might be surprised how much difference it makes by changing the roof line, even if the house is exactly the same.
If that is in a new development, where they are building large numbers of similar houses, do some research and try to find what kind of quality the houses are. By visual inspection, they will always make them look nice. Even a professional can have a hard time judging the quality by final appearance.
Some of those developments crank out houses in a hurry, and the quality suffers. If you can find out if they were built by "piece workers", be very careful. "Piece work" means the construction of the house is broken up into small chunks, with a different person/crew doing each chunk. They are paid by the job, not the hour. The only way for them to make money is to do it very fast.
It's a classic "snout house" on a small lot packed into a development of identical houses. Deciduous trees in the background. Turf grass lawn. That means...
It's not anywhere in the Northeast. We don't have these developments. Lot sizes here are typically 0.75 to 1.0 acres.
It looks to be on a slab, the cheapest form of construction. So no basement or crawlspace. More evidence it's not in the Northeast where full foundations and basements are the norm.
No chimney so no fireplace.
Minimal windows (cost).
Probably Southeast to Midwest where these developments are common.
Probably heat pumps for heating and cooling.
Probably electric hot water.
Probably electric stove and oven
What are electric rates here?
That means an HOA. Which in turn means mismanaged money and services.
That means lower real estate values because of the cookie cutter houses, the HOA, and low real estate values generally in flyover states.
It looks to be small for a 4 bedroom house. I'd guess maybe 2,000 to 2,400 square feet. That means all the rooms are compromised to pack 4 bedrooms into a tiny footprint.
This is a typical lower middle class neighborhood of starter homes.
These homes are almost always knocked together by the hundreds by developers working at scale focused on the lowest possible cost. Windows, roof, HVAC systems, and plumbing fixtures are all contractor grade products bought in bulk. This ain't a custom home.
Bare minimum of landscaping echoes the build to a price point ethos.
Is it decent? Yeah, it's decent. That's it. You'll be fine for about 20 years and then everything will start failing all at once. So plan for that.
Price? Location location location! Depends where it is. I'd guess the price is somewhere between $250,000 and $350,000. Check the HOA bylaws and solvency. Use an attorney. Don't overpay. These things can be hard to sell.
How many bedrooms, where is it located, what are other houses around it selling for, how many square feet is it, what amenities are nearby: parks, recreation, groceries, other shopping, farmer's markets, schools, churches.
How busy is the street it's on, how much on street and off street parking is there, is it near bus lines?
All of these questions tell you what the house is actually worth to YOU.
And if it doesn't fit your needs: isn't big enough, lot's too small, it's in an HCA (those odious associations that can tell you what to do with or on your property and cost money to belong to), those are also costs you have to pay after buying the house
How old is the HVAC for the house? How old is the roof? Is the foundation solid and uncracked? If you need to repair plumbing, is it easily accessible or do you have to break into the slab? How old is the plumbing? Are you on city services or do you have containerized sewage that has to be pumped out regularly. (another cost)
How much are monthly electric, gas, water bills? How much will it cost to pay taxes on and insure the house? (with a mortgage, these taxes are included, but if you're buying it outright, you need to know what these yearly costs are.).
And without seeing and checking INSIDE the house, you cannot ascertain how "decent" the house is. Also, and lastly, can you afford the monthly mortgage payments easily?
When buying a house, the rule has been it should take 25% to 30% of your income. After you've had the house awhile, you should start making EXTRA payments to whittle down the interest and the time it'll take to pay off your loan.
So there are ALL THESE VARIABLES to consider. Weigh them carefully. And always buy a house that is slightly larger than your needs. Meaning about one bedroom or a half bath more than you need right now.. Then you have room for an office, study, or a guest or specialty room.
Depend son the area. I am assuming git is a Three bedroom, two bath home? However, being in the Wholesale Investment business I still am into with my family, dealing with Realtors, etc... the Real Estate will take the HIGEST offers from others who will surely be BIDDING to get this lovely home. And it may end up to be a rip off... Make sure one can afford the down payment and taxes usually are included in the mortgage. Make sure on the area too that it is in a good neighborhood and check it out to make sure it is not like some "Fear Thy Neighbor" Deal... neighborhood. xxxxxxxxxxxxxxxxx
As for the house it was definitely flipped & for a house that is 20 years old I’m sure the price can be negotiated based on an inspection. The driveway is cracked for starters & I see a few other things as well. I’m trying to pull up the county records to see with it is really worth along with permits & the arrest records for more information.
I’m guessing $230,000.00 or less for the whole deal.
Like all real estate, what determines the price is location, location, location.
Since it's not stated where this house is located, assuming it's somewhere in the US, its price could be anywhere from around $100K (in rural areas) to over $2 million (or more), in urban areas in California.
There's no way to talk about real estate prices without knowing the location. A house that is $250,000 in one location could sell for $3 million in another.
It depends on where is the house what state... 4 bedroom can be a huge price as well as location to nessituess shopping work the nighbhood all key factors to the cost of the home
Where is it? In Newport Beach near the Costa Mesa border that house at 1600 sq. ft. would be around $1.5M to $1.8M, perhaps more, depending upon the interior and backyard.
I don't know where the house is but it's not in New York. That house would be listed for around 700k here. I think it looks decent, I'd buy it in a heartbeat
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