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The Munsters have been saving money in order to buy a house. They figure that, given current interest rates, they could afford a $425,000 home.
The Munsters have been saving money in order to buy a house. They figure that, given current interest rates, they could afford a $425,000 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 $82,500$87,500. At a minimum they want to build a 2,300 -square-foot house. The cost for a house of the quality they desire is $170 per square foot. Given this information, should the Munsters pursue the option of building a new house
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