The other day I was so happy, we started to finalize our plans for the home in NC. While we were on the phone we were told, yet again, that the price had gone up from our last dated quote in March of this year from 414,000 to 424,000. When we first went down to NC, the price was 388,000. So back to finalizing the plan. Again another price increase to 449,000. I send him the elevation we decided on and this morning there was more bad news. Again the price is now 477,000. So since March the price has gone up almost 100,000 dollars! This is all because of the price of lumber. Now this is for the basic home, any custom features would have added to the cost. We had left 100,000 for the extras we wanted. We nixed the whole deal. Between the cost of the land, 142,000. 15 years ago and adding the house it would be almost 750 to 800 thousand. We could buy a gorgeous home for that price.
Now I’m back to the decision of selling the lot and buying a home already built or holding on to the property and hope the building costs go down. I hate to sell the property, although I could make a very good profit being that lots on the water are selling at premium prices.. I bought it on our honeymoon 15 years ago knowing that someday we would build a home there. It is on the water and that is the main reason I don’t want to sell it. We’ve seen beautiful homes but the yards were small and the fact is, I want to be on the water! Another reason is that if I sell it, I feel I’ll never get the home I’ve wanted all these years.