Building a Pre-Fab / Modular on Empty Lot

[Antonio Parrish]

Looking for a consensus, "Would building a home on an empty land lot be more profitable than just selling the land?"

I'm getting a TON of unwanted letters & phone calls for my vacant lot and wonder, since its highly sought after, would building a home first offer more profit.  I understand the state of interest rates is giving pause to MANY would be buyers, but someone will ALWAYS need a home right?

All comments & thoughts are welcomed?

[Joaquin Jimenez]

Good question.

Whether to sell the land or build a house... It's like choosing between two different adventures.

If you sell the land, it's like getting money quickly to buy something you really like. It's easy and fast.

But if you decide to build a house, it's like making something amazing that lots of people will want. Building a house can be tricky because you have to follow rules and make sure everything is just right. But when it's done, it's like having a special treasure that's worth a lot.

So, it's kind of like picking between a quick adventure and a big, exciting one. It's up to you to choose which one sounds more fun!

A few reason I think it may be wiser to consider selling the land:

1.  Building cost more these days, alot more.

2.  Interest rates are higher making it a bit more difficult to profit on an already expensive build.

3.  If you aren't experienced at it, it'll typically cost you even more to build your first project, because you don't know what you don't know.  

Alternatively, a reason to go the distance and build it out:

A.  If you think you might want to repeat this process, better to do it and start the learning.

B.  If you're a person who likes to overcome challenges, create and manage projects, building could be for you.

I personally go into each project looking to build it out, yet many times I've decided to simply just sell the property and move on the next project.   

Enjoy.