Shouldn’t it cost less? Is it to do with construction costs being high for unrelated reasons?
In: Economics
A house that’s already built has a known cost. A house that you build requires a ton of steps and takes a long time, from buying a piece of land through architecture and then construction, and many steps are subject to inflation, cost or time overruns, screwups and re-do fixes, supply chain fluctuations, etc., each of which can cause costs to increase, plus people tend to splurge more on customizations when the build versus just accepting an existing house even if it has some imperfections. Also that plot of land is probably in short supply same as houses are, if it’s in a desirable location.
Latest Answers