Facing low inventories of homes for sale, some buyers will turning to homes with “good bones” or lots they can use to make into their dream home.

Housing inventories are low and continue to drop. Total housing inventory at the end of April was down 10.4% from a year ago, according to the National Association of REALTORS®’ latest housing report.

I advise that buyers considering a teardown or renovation should have a home inspection. Even homes for a teardown should be inspected because older homes may have been built with hazardous materials, such as asbestos or lead paint, which could significantly increase demolition costs.

Per the El Dorado County adopted 2021-2029 Housing Element of the General Plan "The County shall continue to allow rehabilitation of dwellings that do not meet current lot size, setback, or other current zoning standards, so long as the nonconformity is not increased and there is no threat to public health and/or safety." I would also recommend you study the chart on page 13. Full report: https://www.edcgov.us/Government/longrangeplanning/LandUse/Pages/General-Plan-Housing-Element---2021.aspx

Other source info: “Buying a Dream Home? In This Market? For Some Buyers, a Remodel or Teardown Makes More Sense,” The Wall Street Journal (May 19, 2022) [Log-in required.]