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www.home-building-directory.com Instructions for Building and Contracting ... cch.com Present Worth Analysis. Purchase a Used Home. then again. Assemble a New Home. Any Questions? ...
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Slide 1

Group 11 Housing Options Bryce Hagen Gamal Burhum Vesna Eng Danny Luu

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Buy a Used Home or Build a New Home A Comparison Based On Financial Conclusions

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Scenario Typical College Graduate First Time Home Buyer Southern California Residence Good Credit $300,000.00 Budget 5.2% 30 Year Loan Sell The Home After 10 Years

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Assumtions 3.45% Inflation 10.0% Real Estate Return 10 year Analysis

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Used House Location 2408 Ogden St. San Bernardino, CA

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Used House Details 3 Bedrooms, 2 Bathrooms Family Room, Dining Room, Living Room 2 Car Garage 1396 Square Foot House 8700 Square Foot Lot Built in 1966 $249,900.00

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New House Lot Location 2620 Kern St San Bernardino, CA

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New House Details 1400 Square Foot House Built in 2004 9330 Square Foot Lot 3 Bedrooms, 2 Bathrooms Dining Room, Living Room, Family Room 2 auto Garage Lot - $26,500.00

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Used House Initial Costs $249,900.00 Purchase Price $4879.00 Closing Costs $531.41 Advance Payments $1540.00 Title Charges $385.00 Miscellaneous $257,235.41 Total Initial Cost Sell the Home in 10 Years for $650,000.00

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New House Costs $26,500.00 Lot Price $196,000.00 Const. Costs $16,800.00 12 Month Rent $8,826.00 Fees $5,000.00 Architect $253,126.00 Total Initial Costs Sell the Home in 10 years for $720,000.00

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Used Home Maintenance Costs $1,000/year Maintenance $9,500 Year 2,4 Plumbing Cost $1,500 Year 3, Water Heater $7,500 Year 1, New Roof

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New Home Maintenance Costs $0 for the First 10 Years

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Present Worth Comparison - $336,635.89 Total Costs $277,591.17 PW of Sale - $59,044.72 PWC New Home - $370,048.62 Total Costs $250,603.14 PW of Sale - $119,445.48 PWC Used Home

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Sensitivity Analysis Increased Construction Costs $110 - $200 Sq Ft

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Sensitivity Analysis Change in Used Home Price $200k – 270k

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Internet Resources www.builderonline.com – Home Building Tips and Warnings www.home-building-directory.com – Instructions for Building and Contracting www.toolkit.cch.com – Present Worth Analysis

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Buy a Used Home or Build a New Home Any Questions?

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