The Search for Quality: Are New Construction Homes Worth the Investment
A Winning Formula
“In with the new and out with the old?” When it comes to property investments this is likely a winning formula.
I hear people constantly spouting financial clichés, “buy low and sell high”…”you have to find that diamond in the rough”…”I’m gonna flip a fixer-upper and make a fortune”. The sad truth is most people haven’t a clue what they’re talking about. Naïve and starry-eyed platitudes, mixed with the loss of monetary accumulation you simply can’t afford to squander, is oftentimes a deadly cocktail stepped in blissful ignorance just before the financial hemlock kicks-in.
It’s Not Always That Easy
Now that we’re on the subject of clichés, I have another one I’m sure you’ve heard too many times too count, “if it was so easy, everyone would be doing it”. Compared to the clichés above, this one rates more like an axiom/maxim. How many times have you driven by a property that has seen better days (and more often better years) and thought to yourself, “if I could just pick that property up for X amount of dollars, invest Y amount of dollars into the property and make it turnkey-ready, I’m sure I could quickly get it sold fast and make Z amount of net profits”.
Sounds like it would be easy right? Not so fast my friend. How do I know? Because I’ve been there and done that a few dozen times. I’ve had many base hits and even a couple of homers; but believe me when I tell you, that one time you get beamed in the head with a 92-mph fastball can make all your successes pale in comparison to that one backbreaking investment misstep. (In my case I lost almost $90,000 on a “sure thing” foreclosure property in Southern California that turned out to be the worse investment decision I’ve ever made.)
Be Courageous, But Cautious
Am I trying to dissuade you from property investing? No, quite to the contrary. What I am trying to do is hopefully allow you to learn from my painful (and yes…sadly prideful) inexperience. I implore you to take a look in the mirror and say to yourself with true understanding, “you don’t have all the answers Mr./Ms. Know-it-all”. So what’s the smart move?
1. Stay focused on the long-term property “value” vs. making a “quick buck” in a fleeting, unpredictable market.
2. Be willing to turn to, trust in, and rely upon true industry professionals whose sense of fiduciary duty places your financial well-being above all else.
3. And lastly; don’t throw money into an old “money-pit fixer-upper” when you can invest those same dollars into a brand-new home that someday your grandchildren and great-grandchildren will love and cherish as much as you will the day those keys are dropped into your hand.
To Each Their Own
Where are you going to find this solid value, which will stand the test of many decades in time, and who we are going to implicitly trust to guide you in this lifelong property investment opportunity? You should look no further than my go-to homebuilder and most trusted real estate professionals: Toll Brothers Homes and Coldwell Banker Mountain Properties.
I work with Toll Brothers because they happen to be the nation’s leading luxury homebuilder, whose creations border on decadent opulence. Their stunning creations are not only guaranteed to draw envious gawking today but longing reverence for decades to follow. Take, for example, their work in the Cadence Community. On the outskirts of Henderson Nevada; Concorde at Cadence offers the best in dining, shopping, entertainment; and sports/recreation facilities, all within blocks of the most breathtakingly beautiful, undisturbed Nevada desert landscapes you will ever discover. This eclectic mix of civilized society and raw nature elevates this community high above the rest. But, of course, this is just my preference. I urge you to find your version in the city you’re seeking out for real estate investment opportunities.
Do Your Due Diligence. Find a Great Team.
“Yeah right, like I can afford a new construction home,” you say to yourself. Well, slow down there cowboy. Here’s where my posse at Coldwell Banker Mountain Properties gallop-in to save the day. Don’t sell yourself short and settle for less; these razor-sharp and tenacious real estate professionals are guaranteed to negotiate the best possible deal on these finest homes west of the Rockies. But remember to do your due diligence. Although I have a personal preference on agencies, there are many moderate agents with decades of experience who know their niche market inside and out. When you’re ready to make the leap, couple a well-built home in an area that’s tracking to be on the up-and-up. That sort of investment is a winning combination you can take to the proverbial bank. Go ahead, “grab the brass ring”; bask in the glory and pride of homeownership, whether it’s in my favorite one-of-a-kind community nestled in a true desert oasis or someone else across the country.