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Originally Posted by Rutuu
Interesting. Are build costs around $200 - $300 sqft? That puts land prices at ~$40 per sqft in that area ($430/sqm). I've got inner city just north of downtown and the river at $150 per sq ft for land (~$1615/sqm on the high side). An extra $100k in a place like Panorama moves land price up $20/sqft on a 50ft x 100ft lot, or moves your rebuild costs up $50/sqft. In the inner city its more weighted towards land to go that much higher.
A dangerous game to up weight construction costs.
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I’m curious about land value vs house value. We have a renovated bungalow in Altadore, nicely renovated but still a 1600 sq ft bungalow on an R1 lot which is out of step with what is being built in the neighborhood.Seeing the continuous tear downs and builds going on in the neighborhood and the high price of some of these new single family homes, are we more likely to sell the house just for land value or do we get value for the house that’s on it?