7 questions I've learned to ask contractors before hiring for a home build. Choosing a contractor can be a difficult and nerve-wracking decision.
I've had the opportunity to work with contractors to build my family's dream home and to later add an addition to our home. We learned some tough lessons during the home build, and later had a very successful experience with the addition. Aside from the basics like getting multiple bids and asking for references, my husband and I learned that the questions we asked at the beginning of the process had a tremendous impact on the outcome of the project.
We ultimately got our dream home and addition through a construction process that was painless to our family of five. We still have a great relationship with our addition builder and would happily recommend him to anyone looking for a great home-building experience. [Click here to find an expert home contractor in your area.] Here are some of the most important questions that we asked (or wished we had asked) when interviewing contractors. Have you done similar work? Secrets to creating a house that's easy to sell. Everyone wants a unique home that fits the way they live.
Everyone wants their house to sell easily and quickly - someday. Are those two statements contradictory? You might think so, if you listen to some of the conventional wisdom from the real estate and homebuilding industries. If you're selling houses, you're obviously interested in ones that will appeal to the widest audience possible. Houses similar in size and style, and with similar floor plans. Theoretically, that should lead to greater exposure and a greater chance of a quick sale.
If you're buying a house, however, you want something much more personal - a home that has all of the things you need to support your unique daily life. If you have lots of kids, you need bathrooms and casual space. If you're an empty-nester, you probably want more living and entertaining space, and less maintenance. [Ready to tailor your home to fit your needs? Things like decent-sized laundry rooms and mudrooms. And maybe in a big way. How To Calculate Cash on Cash Return - Real estate investors often turn to the cash on cash return when considering a real estate investment property.
So let’s take a look. 1. The property’s expected cash flow during the first year 2. The amount of initial investment made by the investor to purchase the property Cash flow during the first year is simply the amount of money expected to flow in less the amount of money expected to flow out. . The initial investment comprises what the investor invests to make the purchase. . Cash Flow / Initial Investment = Cash on Cash Return (CoC) $5,000 / 100,000 = 5.0% (CoC) Viola! James Kobzeff is the developer of ProAPOD – a leading real estate investment software provider since 2000. Bookmark & Share.
Realtor.org. Neighborhood Search for Home Buyers and Real Estate Investment - NeighborhoodScout. 20 Ways to Cut Construction Costs : For Pros. When housing starts are in the doldrums, homebuilders need to make every dollar count by cutting construction costs while still providing top value.
Easier said than done? Charles C. Shinn Jr., president of the Lee Evans Group/Shinn Consulting in Littleton, Colo., says there are myriad ways to do it. "If you can reduce construction costs by only $10 per cost code, you will significantly increase your profits," he says. There typically are about 100 cost codes per house, creating $1,000 of increased profit per house. Cutting direct construction costs is the most effective way to boost profits, Shinn says. Create target construction-cost budgets.