Ground Up Development in Lincoln City, Houston
Hello everyone.
I’m starting my Real Estate journey in the US and I’m about to make my first deal!
A construction company is offering me a 7,200 sq. ft. lot (replan into two 3,600 sq. ft. lots) in Lincoln City, Houston.
The exit strategy is to sell both single-family homes when they’re finished.
I don’t know the area that much, but I’ve seen that there are a few new construction homes there.
The floor plan is 1,759 living sq. ft., 3 bedrooms, 2.5 baths and 2 car garages per house. The Sales price will be around 289k per house.
I’m comparing this project with a very similar new construction for sale of 1,588 sq. ft. with 3 bedrooms, 3 baths, and 1 car spot at 255k.
Would really like to hear your recommendations.
Thank you so much!