If you regularly build new construction homes on a Spec or Pre-Sale basis, it’s likely that you’ve worked with different lenders. While there are many kinds of loans available for new construction,..
In the world of new home construction, there are important differences between home types, and knowing those differences (and what they entail) is important when traversing new home building..
Spec construction is speculative – it’s a property built without a buyer already lined up. There is risk and potential reward. A spec property probably isn’t a long-term investment; many projects are..
When it comes to new construction, there are several kinds of residential builds that builders may consider. One of those, the spec house, provides interesting opportunities and challenges. What is..
Builders looking for ways to fund new construction projects, like spec or pre-sale home building, may consider financing using a private lender. While it is one way to get a spec house construction..
If you’re thinking of applying for a construction loan, there is a lot to consider, and while doing your research, you may run into some unfamiliar terms. Below is an explanation of some construction..
Most builders constructing spec houses want to optimize their own capital . So they seek funding with a spec construction loan. Most or all of the money to build a house can come from a lender. A..
Most lenders financing new construction require an appraisal to determine your project’s value. Unlike appraisals for existing structures, a new construction appraisal is essentially a third-party..
A “spec house” is a new home built on a speculative basis, created with the intention of selling but with no buyer lined up in advance. Known also as “move-in-ready” or “inventory” homes, these..
Mold is a fungus that produces spores which are spread by floating around in the air. It is present in indoor environments, thriving in areas that are moist and warm. When a spore lands on a damp..
When you build a property that is designed for renters, whether it’s a multi-unit apartment or a single-family home, tenant retention is a big consideration. Especially if the tenants are good..
Residential building can be a lucrative business if you know what you are doing. There are the different types of builds to consider with custom, semi-custom and production building as options. Do..