No matter what your project is—commercial buildings, a new home, a rental property—every building project is an investment. And with every investment, it’s always a good idea to do your homework and put the proper framework in place to make sure you can recoup as much of your capital as possible when and if the time comes for you to rent or sell.
Let your budget be your guide.
While blueprints and building plans are important, the most important paperwork you’ll create and reference is your budget. It will guide your site selection, floor plan, finishing materials, and landscaping choices. If you are building an investment property, it’s important to include a contractor in your budgeting process; he or she can help guide the conversation so that you consider several angles and make the most informed choices.
Looks are important, but they aren’t everything.
A building’s aesthetic plays a huge part in its marketability. Curb appeal, exterior materials, parking, and how natural the design feels on the lot and on the street all play a role in how attractive it will be to whomever purchases or rents the space next. This is an important point for both residential owners and commercial investors; form and function are equally important, but when hammer comes to nail, function will always win.
Don’t underestimate the location.
The location of the facility makes a big difference in how attractive it is to buyers and customers. This will be one of the most important decisions you make as an investor, and it’s even more important if you are building the home initially for yourself. If you aren’t sure what to look for when selecting a site, enlist the help of a great contractor.
Don’t fall victim to the most common pitfall.
Often builders and investors head straight to an architect for their building design needs. Architects are a valuable part of the team, but their expertise is in their artistic and visionary craft. However, their expertise lies in design and not construction cost. It’s important to have a contractor in your brain trust to help facilitate and guide the design conversation. Your contractor will help mediate the process, helping you choose the unique design elements you love while still keeping everything within the business plan of the investment.
Use your resources.
When you assemble a team of expert contractors, engineers, architects, and real estate agents together, you are bound to make informed, confident decisions from the beginning.
When you are ready to build, Brown Wegher is ready to join your team. Contact us today to see how we can make your building project one that will work for you.