Updated about 2 years ago on . Most recent reply
I bought the property, but these friggin construction costs
My wife and I own a medspa. We are also minor RE investors. The two have converged. We were looking for 3 years and finally found a commercial property that would serve as our new location, but the RE investor in me requires that it be able to stand on its own two feet feet from a RE perspective. However, the cost of construction is double where it was 2-3 years ago when we started looking at properties.
It’s important that the company it’s not looted to justify owning the building. We bought the building right, the company is successful, but the $800k buildout now looks like $1.5M.
Any suggestions would be welcome.
Most Popular Reply
@Nick Adams
Construction costs should not be double but 30-40% more. How many bids did you get from gc’s?
Do you have completed plans they can build ?
- Chris Seveney
