Within the next couple years I may inherit a four bedroom two bathroom home with garage that was built in the early Seventies. Hey, don't congratulate me yet. I might end up in serious debt because the home has not been cared for properly and could possibly be described as a "distressed property." There is extensive weather and vermin damage, plus, many things need replacing for energy efficiency, etc.....
Question: is it truly cheaper to tear down the existing house and build another one? Someone told me rebuilding is cheaper than renovating, but I find that hard to believe. I also would like to look into building a home with a steel frame.
Any and all ideas welcome. I'm a little ambivalent because I wanted to move out of state and buy my own home. I wasn't planning for this situation. But I need to consider everything.


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