Posted by Dewey on January 12, 2001 at 11:20:21:
Since I have built ten homes in the last several years, I will try to answer your questions. Most homes can be built for about 25% cheaper if the owner acts as the general contractor. Unfortunately, unless you have considerable building experience, I wouln’t recommend it. It is an extremely time consuming and, sometimes, frustrating endeavor. One bad mistake could end of costing you alot of $$$.
Can the current house be brought up to code without huge outlays of money? For the beginner, I would recommend this route instead of building. Or can you put a double wide on it?
Also, make sure the bank discounts the lot enough to cover the cost of the demolition. If not, you will pay more for the lot than it is worth.