Sequim land for sale is getting more attention lately as home buyers are examining their options. Not everyone is able to find the perfect retirement home in the existing inventory, and that means looking in the MLS for Sequim land for sale. Most people know that in this market it is hard to buy a lot, get building permits, excavate, bring in utilities, and build a home at $125 per square foot, plus or minus, and compete with the depressed prices of existing homes.
Sequim Land for Sale
If you’re comparing buying an existing home to buying a lot and building, here are some general parameters that will help you make the comparison. I share these numbers with a couple of reservations. These estimates are general estimates that apply to most retirees plans, and the costs of Sequim land for sale, and the estimates that Sequim home builders have given me. Obviously, the comparison also depends on the existing home you may be looking at and how motivated (or desperate) the seller may be, how much they owe on their home, and how negotiable they are. With all those obvious qualifications, here are some parameters that may help you to decide whether to buy or build.
Sequim Land for Sale – The Cost
It is hard to find cheap Sequim land for sale. A good lot here in a better market would have been $80,000 to $200,000, depending on the view and location. There are lots on the market now that have been deeply discounted to $50,000 to $60,000. These are small city-size lots, and generally do not have a water view or a grandiose mountain view. Larger lots (with and without a view) or typically $80,000 plus, and a good five acre parcel with a water view can still be $150,000 plus. Add roughly $25,000 for excavation and bringing in utilities, unless the lot is on a steep slope and needs more preparation, and add $25,000 for building permits if you are in the city of Sequim or $5,000 if you’re outside the city of Sequim.
Sequim Land for Sale – The Building Cost Per Square Foot
A medium level custom quality home in the Sequim area will cost about $125.00 per square foot. You can reduce that cost by using lesser materials, and you can increase it to $175.00 or more per square foot for the best countertops and cabinets and hard wood floors and so on.
As of this writing, there are 155 Sequim lots for sale priced from $20,000 to $60,000. You can also look at Sequim land for sale priced from $60,000 and above, and since there are over 250 lots in this segment of the inventory, you will have to break down your search with more specific parameters, which you can do on this site as you look at these lots.
I should point out that banks are not lending on raw land. That means the purchase of land is a cash purchase, unless you get lucky and find a seller who will carry the contract. Sequim land for sale is getting more attention lately, and even today I will be out showing lots to clients.
Last Updated on October 3, 2011 by Chuck Marunde