Buy or Build?

[hpp4me]

Prices on the Big Island have gotten so cheap that I wonder if it even makes sense to build when there are so many nice homes available for resale. Has anyone crunched the numbers? What are you real estate professionals telling your clients?

[Dennis]

I have been looking at the same thing. Doesn't hurt to look at what is for sale. It may be less expensive than building. That being said, building does provide the opportunity to be exactly where you want and build exactly what you want.

[hpp4me]

Good points. Prices are so low that we actually finding affordable prices in areas we once thought were too expensive for a vacation home -- Kailua-Kona, Kamuela, the Hamakua Coast, Hawi...

My guess is that prices will be even lower in about a year. There are more than 180 forclosures and 70 notices of default (pre-forclosures) in Hawaii county right now.

[StillHope]

I wouldn't even have this question if I'd have to start now.

If you are going to build and use a GC, get a lawyer to go over your contract.

[John S. Rabi]

I tell my clients to look at the existing inventory and the prices, than crunch the numbers for the NEW house you REALLY want and there is your answer! I'm in a process of building a house now because it's still cheaper than the existing homes for sale in the subdivision.

Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.327.3185
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[lavalot]

Just purchased a 3 acre lot in Puna, we are going to build once our house sells and are looking forward to making a new life on the big island. What's better net metering or going off grid. We are open to being off grid but the upstart price is 25,000? Any advice for newbies? [8D]

[Rob Tucker]

I want to congratulate Stillhope.

She has turned a corner on Punaweb and after two thousand or so asked questions she is now starting to answer them.

Assume the best and ask questions.

Punaweb moderator

[StillHope]

????

[DanielP]

lol

[robguz]

Only build if you are certain you aren't going to move, because as soon as it is complete, it is (likely, not always) going to be worth a lot less than it cost you, unless perhaps you built years ago and got your land dirt cheap. If I had to do it again, I would still build, because it's exactly what I want, and there wasn't and still isn't anything this close to the water with a good view, big lanai, for the price it cost me to build my house. If you aren't picky, there are many great deals now. John, you have built before and probably know what you can build at a bargain price, but most people building for the first time probably don't have that knowledge, and probably not those hiring a GC.