possible? what challenges will we face?
hi everyone! i used to hang on here ALL the time when we were building our first home in new england which was about 5 years ago. We're considering a relocation to the greater Dallas-Fort Worth area and possibly building again so this is the first place I turned.
Ideally what we'd like to do is buy a 1 acre piece of land in a dallas suburb and build a 3500-4000 sf house on it. we also would want to build a small detached in-law home in the backyard somewhere as my parents would be retiring and re-locating with us. (we currently live next door to each other so that's not a concern) They only want 800-900 square feet (2 bed, 1 bath). We could call it a guest house, in-law apartment, or whatever.
Has anyone got any experience with that? Any suggestions on whether we should do it all in one swoop with the same builder on one contract v. building the main house traditionally and going modular for the in-law home? We'd like to pay off the guest house fast so that we're not lumping it all into one larger mortgage. Any reason not to do that? the key is that we want a detached space for them. yes, it'd be on the same property, but there's a lot to be said for making the decision to put shoes on to come over v. just opening the door to guest quarters under the same room. :)
We haven't even put our current homes on the market and haven't picked a town or shopped for land yet. I'm trying to get a list of considerations from the experts who are currently or have recently gone through something similar.
Thanks in advance for any advice! I'm sure I'll be frequenting this board again now. :)
PS: any thoughts on residential construction cost/sf in the dallas area would be helpful too (separate from land cost)