Originally Posted by
Skelly_GSR
Ok heres the deal.
I found out my aunt and uncle have some land in a primo area that they bought back in the stone age. Welp they are getting old and I was interested in purchasing.
Now I understand that when you usually purchase a house you are mainly paying for the land that the house sits on. I know it varies greatly, but is there any way I can guesstimate what it would cost to just build a house if I already own the land?
Example: A house is on the market for $200,000 house is 10-20 years old in a nice location. What percentage of the total price are you paying for the actual house vs the land.
I know it varies greatly but I kinda wanna know
h:
when i get my property tax here in CA, the selling price is divided in 1/2. 1/2 for land and 1/2 for improvements.
so in your example, it would be 100K for the house and 100K for the land.