Published at Monday, April 30th, 2018 - 19:11:07 PM. . By .
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.
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.
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