You have a property with three acres of land, but the seller is only offering two acres for sale. The first two acres include the area where a home with a brick foundation currently sits, but the home itself needs significant renovation or could potentially be torn down for new construction. The remaining acre is presumably available for further developmentCost Analysis:Determine the overall cost involved in renovating the existing home versus tearing it down and building a new one.Consider the potential return on investment and market demand for new construction in the area.Infrastructure and Utilities:Engage builders, real estate professionals who can provide insights into the feasibility of your plans and help navigate the regulatory landscape.Financing:Consider the financing options available for both renovation and new construction. Lenders may have specific requirements for different types of projects. also the land goes back to the encore wires
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