If you’ve decided to build a new home instead of buying an existing one, you’re likely very excited about the opportunity to create a dream house that has everything you want while also meeting your budget.
Negotiation knowledge is the most powerful tool when making an offer on a property. Often, real estate developers and property sellers are among the best negotiators. Why? The more information you have about a prospective property, its initial price, how long the seller has owned it, the better offer you can make.
When searching for a lot, or piece of land, you make initially find the ideal spot: remote area, scenic vibes, close to nature and a community. What many site-developers don’t anticipate, however, are the unexpected, sometimes unpleasant costs associated with land improvement after closing a deal. Even developers who purchase large land tracts with the hopes of profiting off subdivision often budget more for building and home development costs than the realistic prices associated with buying land.
Round 2! We’re going to dig even more deeply into potential site development costs and budgeting techniques. It’s essential for developers to get price estimates for site improvements, which are dependent upon careful evaluation of the site prior to development.
The 2017 Housing Market continues to show strong growth with low inventory levels, a median sales price increase of 5.2%, and a quarterly increase in new homes sales of 3.2% over Q1 in 2016, according to data provided by the Wisconsin Realtor’s Association.