Published at Tuesday, April 17th, 2018 - 18:54:04 PM. . By Luisella Alfonsina.
Once tenants move in, they pay minimal rent and utilities (e.g. $300 a month rent for a 300-square-foot home and an estimated electric bill of less than $35 per month). After three years, tenants are offered a contract to rent to own their homes within four years. This lengthy process is designed to help residents become disciplined about bill paying and the responsibilities of home ownership.
Construction Cost. NOT including soft costs: $169,000 for 1550 Sq ft + 400 Sq ft garage, or about $87/ sq. ft. Land and soft costs ran about: $100,000. Architectural design and survey: $12,000; architect charge to make changes: $5500.
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