Have you ever bought a house that you had to rebuild from the ground up?

[Chibson]

No. I've not and I would not try that.
If one buy such house, especially in my country. It might be a property which belongs to someone else and the building that was destroyed may not be economically okay compared to buying the land and build on it.

Before you by such kind of property it is important you will make enquiries and have the necessary documents. This way you will not have any issue because even if such arises, you have the document and you have the right over the property.

 

[joy101]

No can say I have been in that situation but I've seen instances like that definitely that usually happens when the condition of the property was not as good as the early intention so that could happen

For me I have never done that before but I have seen things like that some people can buy house that them have not completed, then them can complete it by themselves, I think there is nothing wrong with that.

 

[Bethel Victor]

I've never bought a house before, but I have rented. Looking at buying a house and then bringing it down only to rebuild another one, it sound like a waste of money, except you have a agreement on the price of both the land and house, because any person that sells off a land with an already built house on it, would charge you the house.
So your agreement should be made to favour both parties.

 

[Tibrel]

Yeah we were just moving in into this new house but then a earthquake happened and totally destroyed our house so it was rebuild because the house was so destroyed LoL

 

[Lagazine]

Buying a house and rebuild is nothing but a great decisions if one have the financial constraint to do that. You might want to build it to your taste and make sure things are in order. Sometimes, banks buy houses and convert it to a banking building, it might not be up to their required taste and need to be converted or rebuilded to meetup with the Government requirements

 

[Bousine123]

A neighbor of mine sold his house, and the new occupant demolished the house and started building the house from the scratch, to a very fine design that suits him.

 

[Setho]

This is a kind of investment that is very tricky. If you will have to build a house from the scratch then you are not supposed to pay anything extra for what is on the land.

 

[Honny143]

No, I haven't done this, because recently few years back I build a new house, but i know one of my friend buy a old house and rebuild the house regarding his taste.

 

[Syldan]

Actually real estate business are into such categories it depends on choice of business. there are some properties that are newly built and there are some that you must need to reconstruct again depends on what you want.

 

[Danny4cash]

I haven't, but that is what most rich people in urban areas do. The metropolitan has been filled with house. So they will buy one of the old houses in the metropolitan area and destroy it. They will now build a new house on it.

 

[Syldan]

Actually buying properties of such nature in real estate business is a choice. alot of people prefer to buy properties that they have to start building it from the ground so as to give them more confidence in the structure build.

 

[Gandiba]

I have seen situations like this. It usually happens in places where there are already enough buildings and not much lands, so people buy houses to rebuild.

 

[Chibson]

I have seen situations like this. It usually happens in places where there are already enough buildings and not much lands, so people buy houses to rebuild.

Yeah, this is actually very true. It mostly happens in cities . If you get someone who wants to sell his house then you can buy it and rebuild to your own taste.

 

[tyrim88]

My cousin bought a house and restructured it solidly. I thought it was waste of funds but no! He flipped it and got huge profit.

I have had an experience where someone i know bought a property and instead of demolishing it he decided to renovate it to his taste and then partision it into smaller apartment,and rent it.

 

[Lynaia]

No I've never done that before. I just see that as wasting of money and resources unless if I'm not building it for personal use. Well I understand that some rich people practice that and i don't really judge them since they have their reasons

 

[Smiles20]

I believe that you are ultimately going to be spending so much money that you will ordinarily do if you just buy a land so I think you should just go for the later. Why should you buy a whole house if you have to rebuild it again.

 

[tyrim88]

My cousin bought a house and restructured it solidly. I thought it was waste of funds but no! He flipped it and got huge profit.

I have had an experience where someone i know bought a property and instead of demolishing it he decided to renovate it to his taste and then partision it into smaller apartment,and rent it.

 

[Danny4cash]

I have not done it before but I, personally, know some people that do it. A lot of houses that are being sold are better built up from the ground. While some only need renovation. I have even seen people who buy an old because of its land. They don't intend to remodel the house. They only need the land.

 

[greenie]

Personally I have never done this, but I do know of someone who is into this kind of real estate, he busy old structures and remodels them then sells them out for higher price or in some cases, he rents them out.

 

[lorellehosea]

I've never bought a house that needs to be rebuilt from scratch. A house is an expensive investment, so I don't understand why you should buy it if you don't like it. Renovation or redevelopment of a house can cost the price of the house itself. I think it's a waste of money.