How Myers Constructs Can Help You & Your Home in 2021 — Part 2 in a Series
Your Partner in Property Purchases
Are you considering buying a primary home or an investment property? If so, you already know that there are many complicated layers to this life-changing decision.
Generally speaking, you’ll spend more on a home you plan to live in, and you’ll be there for at least seven years, during which you’ll be looking to build a cushion of appreciation and make it as comfortable and attractive as possible. For most of us, our home not only houses us, shielding us from the elements, but it communicates to us and others what is important to us.
Your goals for a rental property will be much different: you’ll want it to generate positive cash flow, last a long time with minimal maintenance, and hopefully also produce appreciation. Of course, if you’re investing in a unique commercial property situation like adaptive reuse, rezoning property, doing land development, or building new construction, there are even more specific challenges that our experienced team can help with, as well.
Before you make an offer in any of these scenarios, we can help you understand your prospective property through the lens of the necessary construction, zoning, fixes, upgrades, and ongoing maintenance items it will need in the future.
We can even join you on a property visit to gather answers to important questions like:
- What attracted you to a prospective house? Looking at what you love, we can get a good feel for how it can be made even better — including what that will cost and how long it will take to achieve.
- How well is the home built? By examining the major systems and infrastructure features, we can tell a lot about the overall construction quality of the property.
- What year was it built, and what are some common issues and concerns associated with that construction era that you should look out for?
- How does this property compare to similar ones in the area — and how can you maximize your rental or resale potential? By analyzing quantitative data, we can show you whether it’s worth adding that third-floor addition, new kitchen, or extra bathroom.
- What are the permitted uses and changes that are possible for a primary home? Together, we can look at options like future additions and other structural upgrades.
- What are the problems the home inspector found, and what will they cost to fix? Which ones should be considered “deal breakers”?
- What is the highest and best allowable current and future use for an investment property based on its zoning? For example, you may want to subdivide a single-home property into multiple lots and homes or expand a one-level commercial building into something like a low-rise condo.
- How can you design an investment property to maximize cash flow, force appreciation, and/or put plans in place now for future payout?
The answers to all of these questions will help us provide an overall outlook on whether a property is the right fit and a smart investment for you. Unlike a home inspection, our home buyer’s service addresses not only physical problems with a property, but it also helps assess the emotional or quality-of-life issues you will face in achieving your dreams for your new home or property. We look forward to discussing the exciting possibilities with you!
