Estimate the cost of purchasing a lot, building a house and furnishing it using the following unit cost estimates:
Size of property 100*150 feet
House size 6 rooms, 50*46 feet with 75% of livable space
Price of property in area: $2.50/square foot
Average cost of construction $125/usable square foot
Furniture $3,000 per room.
Cost of purchasing the lot = 2.50 * (100 * 150) = $37500
The total cost of property is estimated using the data in the solution.