Anyone out there in Massachussets that can give a ball park estimate on how much it would cost to build a brand new 3 bedroom, 2 bathroom house (2/3 floors) on an acre of land (we already own) outside of Boston? There currently is an old house on the property (2 floors, plus basement, 3 bedrooms, 1 bathroom), so we'd have to remove it, or work with it. It's kind of a flight of fancy right now, but we have the property and might have enough capital in a year or so to make significant renovations. Seeing as buying a new house in the area can be anywhere from 200-400k, would building a new house on land already owned cost much less than that? Otherwise, would it be worth it to work on the existing structure? It is a pretty old house, probably 70 years old, and although it is definitely livable, it could use a lot of work. I know these things change from case to case and from state to state, but a general idea would be helpful.
Thanks