Going on 14 units and counting with the New build Strategy
A lot of people ask us why we build new instead of renovating and I just wanted to share a few reasons with you guys to get your thoughts!
1. We have complete control over the budget from day 1
2. Finished value is always far higher than our actual costs to build
3. My husband quit his job at 25 to build full time as he’s able to pull a salary from the budget by doing the labor himself
4. Purposely built buildings, better layouts, functionality and overall designs (I do the architectural/permit drawings myself)
4. Energy efficiency (low utility costs for the tenants)
5. Low maintenance
6. We know exactly what’s behind each wall
There’s a whole lot of other perks that for us just make the most sense and I know building new doesn’t work in every market (like markets where the value of the homes are just lower than what it would cost to build) But I’m curious to know what you think since I don’t see a lot of investors taking this path.
Also, any pro builders out there have any tips for us as we grow our portfolio?