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Group 6: Buying vs Building a house

Group 6: Buying vs Building a house. Group members: Tri Truong Almutaz Rahman Anna Bullara Eugene Pyu Richard Morrow. Building Lot. Location: City of Monrovia Lot size: 6,500 sqft Price: $ 160,000 Cost to build: Avg $135/ squarefoot. House. Location: City of Monrovia

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Group 6: Buying vs Building a house

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  1. Group 6: Buying vs Building a house Group members: Tri Truong Almutaz Rahman Anna Bullara Eugene Pyu Richard Morrow

  2. Building Lot • Location: City of Monrovia • Lot size: 6,500 sqft • Price: $ 160,000 • Cost to build: Avg $135/ squarefoot

  3. House • Location: City of Monrovia • House size: 2400 sqft • Lot size: 6500 sqft • 4 Bedrooms • 3 bathrooms • Price: $800,000

  4. Methodology • Comparing between the cost of building a house from scratch and buying an already-built house in the same location. • Comparing which one will yield a better profit when selling in 10 years. The rate of inflation of 3% will be considered in our calculations.

  5. Resources • Internet • www.imrmls.com • www.google.com • www.century21.com • Real estate agents • General contractors

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