It's for the land and the location. The house itself is disposable. They will knock the house down and replace it with something more in keeping with the value.
A two by four costs roughly the same anywhere. All houses are basically rocks and trees.....the value typically comes from the land, location or view.
In rare instances it comes from craftsmanship.....but rarely.
Our real wealth is really only our health and our time left. In this case, the buyer obviously has the money. They are willing to pay this to save two hours travel time EVERY DAY to their good paying job. Two more hours a day to enjoy precious family time.
Some may think that is crazy, and some will think it is wise. I know one thing....the value of all the neighbors homes there just went up a bit. Interesting.
Frank
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Florida licensed Home Inspector #HI688. (352) 250-7818
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