The Perfect Tear-Down

I love attending our local builders parade of homes for ideas and checking current market trends. What I find interesting is the size of homes on the tiny lots and how there is always additional association fees to go along with the new home. With all the regulations that go into developing a neighborhood; natural space, water retention, trees and other regulations, the cost of building is skyrocketing, forcing more potential home owners out of the new home market. The next building trend I see coming will be developers going into existing neighborhoods, with the large lots, and homes approaching fifty years of age, buying and holding them as rentals until they have several lots adjacent to one another, tearing them down and building modern and more appealing homes without the association restrictions. Imagine not having to install all new utilities and losing multiple acres of land for water retention and by using up to fifteen percent of the existing building, the permitting process is easier.

The next time you see an advertisement for an older home with a large lot, within an established neighborhood, new roof, upgraded HVAC, fresh paint and carpet; it will be perfect for a tear-down!