Can't Find the Right House to Buy in Dallas? Build One!
inventory of existing homes for sale in Dallas has dried up. This has resulted in prices jumping as much as 10-20% in that time period.
The result is that many who want to move into a larger home or need to move closer to their job or just want to move for any reason withing the Dallas area, are finding very few quality properties for sale. For some the answer to that is to build their dream home. There are several ways to do that.
Find a Lot for Your Dallas Dream Home
Find a Tear Down and Do a Remodel or Complete Rebuild
While you are looking for that vacant lot, also look for really badly maintained homes. You can also look for homes that are much smaller than the neighboring properties. Even if these are not currently on any listings, the owners might not realize what the current value of the house could be. Knock on the door and ask to speak to the owner. If it turns out to be a rental, ask the name of the landlord.
Now the question becomes just like any negotiation. Is there any price they would take for the house? Let them go first. If they say they have absolutely no interest in moving, you can still come back with the old ploy where you say: "Would you take $1,000,000?" If they look at you crazy and say, "Of course!" you can work down from there until you get to the highest number you'd be willing to pay. If they are still in the conversation, go to your real offer.
If your agent doesn't deliver by the agreed upon date, hire as many agents as you like. No more exclusives. My rule of thumb is three agents. You will be shocked to see each agent sending you different lists.
Bought a Great Lot or Tear Down? - Time to Build
We have recently posted details of how to check out your contractor. Check out that post here. So I won't go into those details again. However, even a great contractor can have a terrible result if the client is off the track. This problem seems more widespread on dream home builds than anything else.
In one case, a friend was building a 5000 square foot home, but didn't include maid quarters. In another case the dream home was open architecture. But it was so open that the acoustics were non existent. You could hear every voice in the house bouncing from room to room.
Listen to your contractor. If you have followed the advice in the other post, you will have chosen someone with years of experience. You will likely also use an architect. Listen to both. You will save yourself some potential expensive reworks or just living with your dumb mistake.
A Related Article You May Want to Read - Cool, Affordable, High Tech Features You Can Add to Your Dream Home or Remodel Project