Major reconstruction projects can be very profitable for a new home buyer. Major reconstruction is necessary for extreme disaster i.e storm, fire damage or neglect. A home with a 'normal' value of $450,000 can go for $75,000 to $150,000. So if a house is worth $450k undamaged, but because of major damage is selling for $100k, the new buyer has the option of rebuilding the original way it was built, or upgrading with $350,000 to work with. Major reconstruction for a $450k type house using the existing foundation and is still safely usable would be $250k, a $100k profit.

Part 67 - Renovations - Renovations - Renovations

Soon to come: Additions-Additions-Additions

Keywords: addition , Renovotion , Construction , Hunterdon County, major renovation