We are often asked about the process and economics associated with purchasing a property for the purpose of tearing down the existing structure and building a new home. As there are virtually no remaining vacant lots in Los Altos, this will most often include the demolition of an existing structure. We have selected 3 recent Los Altos sales where the buyer may have purchased the property for the purpose of tearing down the existing structure and intends to rebuild a new single family home.
In some cases, a homeowner has purchased the property for their own use or the buyer may be a developer intending to resell the property following the rebuild or renovation. For the purpose of this analysis, we have assumed that the property was purchased by an end user intending to occupy the new home and has hired a general contractor to coordinate the construction of the home.
There are many variables associated with a new construction project. We welcome the opportunity to meet with you and discuss how we can add value to your project, beginning with the acquisition of the site. Building a new home should be one of the most exciting and enjoyable experiences of your life and we believe that we are uniquely qualified to assist you in this pursuit.
Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources. Such information has not been verified by Alain Pinel Realtors®. If important to buyers, buyers should conduct their own investigation. The Lot Size sf, Existing Home sf, Sale Price and closing date figures were obtained from the MLS. The $450/sf reconstruction cost figure is an estimate and may vary dramatically based upon the individual project. The Maximum Above Ground Floor Area figures have been calculated based upon the floor area ratio formula available through Los Altos Planning Department, along with those sf figures described within the Conceptual Redevelopment Scenario. The figures described herein are intended for discussion purposes only and are not intended to serve as a guide relative to the subject properties herein or any other potential development opportunities. All parties shall rely upon their own independent investigations.