The Munsters have been saving money in order to buy a house. They figure that, given current Interest rates, they could afford a $410,000 home. Before looking at houses on the market they decide to explore the possibility of building a new home. The Munsters figure they could buy a suitable lot for $75,000-$$80,000. At a minimum they want to build a 2,300-square-foot house. The cost for a house of the quality they desire is $164 per square foot. Given this information, should the Munsters pursue the option of building a new house? Estimated lowest total cost of building The Munsters should building a new house under the current conditions.