With ocean front and urban riverfront land becoming a scarce commodity these days, many people wishing to build the home of their dreams are looking to buy lots where buildings are currently located. Northeast Fl builders and realtors agree that there is a shortage in lot inventory and razing or knocking down an existing building may be the route to take.

After locating the property of your choice, it is important to consult with an architect before proceeding.  The financial aspect is also a major consideration. More than likely, you would have to rent a home while the razing and rebuilding process is taking place. Even though there is a good deal of money involved in most cases, it may be worth it to get the location and lot that you desire. Prices for land lots are affected by the supply and demand and location. Ponte Vedra Beach had one of its first noted knock downs in 1995. The Ponte Vedra Beach house and lot were purchased for $995,000, and then the owner knocked down the existing 1960s ranch-style home and raised a new one. Another instance of this knocking down trend was a couple who bought a contemporary waterfront home on a golf course for $1 million and then tore it down to build a more traditional house.

The reason most people are tearing down and starting over is because of the high demand for the most favored locations. It is expected that more demolition will occur in more established developments in Jacksonville real estate and Northeast Fl real estate in the future. The First Coast Beach communities will most likely be the areas most affected by this strategy. Other areas to watch are urban areas with waterfront acreage. Location, location, location continues to be the driving force in determining real estate values and when the desired location has an existing building on it, homebuyers and real estate developers either raze the property or refurbish it. Tearing down and starting over will continue to be an ever increasing option chosen by Jacksonville Fl and Northeast Fl homebuyers as virgin land becomes even scarcer.