We are currently renting and are contemplating either buying a property to semi-renovate and sell or we also have th option to buy a block of land and build a brand new spec home to sell. Incentive to build: builder doesn't want payment for house until we sell…!!! What should we do??
We have family, friends and collegues telling us really good pros and cons for both…now we are confused!
Would like to hear experiences, hints, tips and advise from all!
Thank you!
It really does depend on the locations of the ren prop and where you want to build the new property. My personal opinion is to go for building from scratch. A friend of mine built his own house in the UK for £160k it was a 4 bed detached property he sold 3 years later for double that. not a bad profit. Plus he had total control over the layout and evrything that went in it too.
Im very new to investing – so dont feel confident enough to offer an opinion on this.
blueintrinsic wrote:We have family, friends and collegues telling us really good pros and cons for both…now we are confused!But I will say that ive learnt to NEVER ask family, friends and collegues their opinions ….. it just leads to more confusion.
i dont even mention investing in property anymore to family and friends. i get negative opinions of varying degrees.Good luck whichever way u go!
i dont even mention investing in property anymore to family and friends. i get negative opinions of varying degrees.
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