09 Feb House and Land Packages
By now you may be familiar with my Monthly Newsletter which focuses on the latest news, trends, and happenings in the financial world. To round out the information we at LMM provide you, I’m pleased to announce “The Builder’s Blog”, LMM’s latest edition to our series of blogs!
At the helm, will be Dan Coperich, a Professional Building and Development Consultant whom I’ve known and had the pleasure of working with for the past three years; providing a full suite of building and financial services to our clients. Over to you Dan!
Thanks for the warm introduction Nick, and I’ll begin by saying I’m very excited to have the opportunity to share whatever information and tips I can through this blog. I’m always one to keep a positive attitude toward the market, reminding myself there are always opportunities in any climate.
With interest rates stabilizing, this is a great time to step back and examine your own personal finances by meeting with your accountant, your financial planner, your partner (who may very well be your accountant and planner too!), and a certain broker who I may have mentioned at the start of all this =)
It won’t come as a shock that New Home Builders aren’t building as many homes as they were 4 years ago. The market has finally returned to levels where you can build for a similar if not far less cost than what is available on the established market. There are many benefits for you, the consumer, to take advantage of during this time.
Aside from the tougher times weeding out some of the riff-raff, forcing less established builders to sell off to more stable entities or close their doors all together; those still in the game have sharpened their teeth, and especially their pencils, to win your business.
I am a dead-set believer that simply purchasing on price alone is never the way go, but I will dive more into that in a future segment. The point here is that the builders are hungry for your business, and the incentives that are currently being offered won’t last forever. There will be many good periods in the next few years to build, but few, if any, will be as great as the present!
Imagine your new family home with little to no maintenance, designed just how you wanted! Or how about your next (first?) investment property with full depreciation benefits, and without it being a “fixer-upper”! Ahhhhhh…..
Now, there are many ways you can enter the new home market. You may or may not have any land yet. You may have land with a home that is suitable for demolition. You may even be lucky enough to have a block that can be sub-divided.
The first few steps you take will differ depending on what position you’re in, not the least of which is having a full understanding of your financial position and goals. Those goals will differ for many of you. For some, it may be to sell your current family home, downsize and have money left for your children’s University education.
For others, it could be a level of net profit you’d like to bank from a certain project. Whatever your specific case is, schedule a free consultation with Nick, and I’d be happy tailor a plan to suit your specific needs as part of his service.
I’ll wrap up this first edition there, but here’s a sneak peak into what I’ll be touching upon in the next instalment!
- Building Consultant vs Architect (this must-read could save you THOUSANDS!)
- Single or Double Story? (an age old debate, simplified, to assist you with you decision)
- Footing Facts! (What are they? What are the different types? How are they costed? Can the price change, and why?)
Thanks for Reading!