Quote:
Originally Posted by rsmlp
a builder once told me it costs a third more to build on an island and when you're done, your property is worth a third less than the mainland. personally, never understood the allure although technically we live on an island, Long island. although I confess that I don't know, I have to believe that the cost to own on an island is very high.
guess that's what makes the world go round.
|
I think your building cost estimate is close, but the property value is way off. I think if you take an average island property and put it on a mainland lot with the same frontage you would see it worth 2-3 times as much. For instance when we sold ours, if we had a comparable 300' of frontage and 2.5 acres on the mainland the land alone would have been worth twice my sale price.