Originally Posted by bikerider138
I'm currently looking at a piece of land that has a house built in the 40s on it. The house is a tear down but the property is nice. Few acres, level etc.
I am also wondering about the foundation from the existing house.
Could I use it to build on?
There is a shared well for this parcel and the neighboring house.
There are power lines on the property as well as a pump house.
These questions can only be (fully) answered locally. Some are building department, some health department and some will require a structural engineer.
That said... making changes means meeting current codes. The existing water well (volume and set up) and the foundation are probably NOT going to meet current codes. You also don't mention the septic system...
From a financial standpoint, unless all these stars align in your favor,
the tear down is probably not going to be cost effective.
Sight unseen... investigate rehabbing the old house to make it habitable....
then either renting it out to finance the new build or adding on to some.
That term "investigate" means hiring an actual architect/engineer.