Got through another Monday. Today when I went for my walk I noticed that there is a house that is being totally demolished. At first I thought they were just doing a rehab including new roof. But then when I walked by the other day I could see that they were taking the entire roof off. Today nearly the entire house is gone, except one side (of brick) and a brick fireplace and a little bit of the demolished roof that was just hanging over like a tree that had its trunk broken in two. Apparently there is a new house going up. I'm not sure if they are even using the same concrete foundation or not. What's odd to me is that the house wasn't that bad. It was a long ranch style house. Nothing spectacular but certainly nothing that required full demo!
Apparently someone purchased the house (for the land and location more than anything else) and are just going to build a new house on it. I can't see the point. I mean they had to have spent between $250,000-$300,000 just to buy the existing house and how much the new one will cost is that much more. So how many years will it take these people to get any positive equity?? I know not my problem, and none of my business. I just shake my heads sometimes at how people around here don't fall in love with a house, buy it and spruce up things from time to time. I guess there is plenty of wealth around. So many buy houses then totally gut them and remodel them. This is the first full demolition though that I've seen.
I'm curious to see what the new house will look like. I'm sure it will be bigger and 'better' than the one they demolished. At least at this point as far as real estate around here is concerned nothing will surprise me anymore.
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