Build Your Own House for Half the Price of Purchasing One
It is possible to build a house and get an instant 50% equity gain on your investment. Much of it depends on getting the right contractors in at the right time and making sure that your project manages every aspect of your new build. However, the most important part of the design plan is the architectural planning. You will need a very good architect to draw up plans that are simple but effective.
In this article we are going to give a few tips very simple that can really help you gain a 30% or 50% equity when you knew build property is finished.
Lost Your Impulsiveness
The way most people design their new build is very much the same as the way we shop. We go out for one thing and end up coming back with a bag full of stuff. Sometimes you see a deal that you can’t miss or something that just tickles your fancy as you walk past resulting in impulsive decision making. Let’s face it, for many of us, it doesn’t take much to get excited by something like a 50% off tag and dive into committing to a purchase.
It is exactly this impulsive attitude that creates cost overruns with new builds, and a habit you will need to get under control if you want to make sure you make that large percentage equity. There is nothing worse than someone seeing a 50% off deal for a kitchen and then having to design the kitchen space around the style of kitchen that offers the discount.
In essence, you want to build your home your terms unless of course you really did miraculously come across the perfect kitchen that happened to have a huge discount offer. Find out how Centrepoint managed to invest in assisting with homlessness in London.
Keep It Simple
When you first build your new property, you will probably want to include all the gimmicks and gadgets. It goes back to that impulsive obsession many of us have. However, if you can keep things simple and allow for upgrades or leave space for upgrades later on, then you can actually build property and leave space for later improvements.
You will cut down on costs, and yes, your house will not as valuable without the initial wood burner fireplace or chimney, but for now, your first focus is that large % equity.
Get a Good Architect
Most architects would love to work with someone that wants to keep everything simple. There is no one better than a customer that doesn’t over complicate things. Most architects will tell you that one of the biggest issues with the original plans is the changes that people ask for because they came up with a new idea.
Explain to your architect what it is you are trying to achieve. He or she will be able to help you with all the elements of the design that will keep your costs to the bare minimum and give you that shell for your home which is the start of something you can later invest in. If you are in the UK, then take a look at this website https://www.martynpattie.co.uk/ because this is the perfect example of the type of company that can help you plan your entire new build project.
Make Wise Decisions
Once your property is built, you will then be able to start to make decisions on what needs improving. Now it is at this point you can find the upgrades and installations that will add the most value to your property. It could take a couple of years to completely fit out the entire house. In that time, you will fish out the best discount deals and learn which purchases will add the most value to your property. For example, a tree could cost $500 with the landscaping included, but because it was on the discount it adds $1,000 to your property and overtime as it grows it can add yet more value to your home – sometimes up to $10,000 in the long run. Maybe finally you see that perfect new kitchen or carpet on a 50% discount, the value it adds is then worth far more.
It is very simple really. You need a decent architecture, good project management, and you need to be patient in order to get the best final results from your home that will increase your property’s equity value.
