The very first challenge is to find something to buy, but having embraced the concept above you can broaden your search criteria. Include the properties at the bottom of the market.
You will have competition from speculative builders, who tend to get to know about properties for sale from realtors before they go on the market. So find a realtor that is going to work for you. Find a realtor that is looking long term and willing to invest in you, build a relationship and capture a client for the multiple future sales and purchases. They are out there.
Once you have a potential purchase, bring in a contractor to check it over for you. Alair Homes South Tampa will spend the time to check the property is worth investing in. Can it be extended? Will you be able to get a permit to extend? What are likely hidden costs? Is it feasible to spend money on an extension and will the eventual value exceed the cost?
Together with the realtor, we would be able to advise if the purchase is a good investment. It will not be without challenges and hurdles, but with reassurance you can place an offer.
Have your finances in place or ready to go. Providing it is, the realtor can persuade the vendor that you, as a purchaser, are as safe as the developer and they can plead with the vendor to sell to the young family.
Congratulations on your purchase – let’s find a designer (Architect or Draftsman).
Look Out For These Future Blogs
- How do ensure I add value to my home?
- How do I finance the project?
- What is the new home worth?
Alair Homes South Tampa would welcome the opportunity to assist young families in this situation. This is not just Design Build, this is Assess/Design/Build.
Click Here to read Part 1 of this series!