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Renovating an Apartment Building: Tips


About Me

Renovating an Apartment Building: Tips

I had always wanted to be an entrepreneur, so when I saw a local apartment building up for sale at a great price, I decided make the investment. I am a manager by day, so I thought I was ready to be a great landlord. After I had trouble attracting new tenants, I decided to try investing in a few upgrades to see if I could attract more tenants with the added features. I hired a local contractor to work on my first project, which was a fitness room. I remembered that I always looked for buildings with them when I rented apartments! I then had some work done on the grounds and in the apartments themselves. The building is completely full now, so I realized it was a good investment. I decided to start a blog to share my renovating and construction tips with anyone who needs them!

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Tips For Saving Money On Custom Home Plans

It's possible to build the home of your dreams while still saving a bit of green. A portion of the initial costs lies in the plans. The following tips can help you have the custom home you desire while still remaining within your budget when it comes to purchasing the plans necessary to start the project.

Tip #1: Plan First

Home plans and architect drawings cost quite a bit of money, so you don't want to purchase them until you are sure of what you want. Make a list of key features that you want, such as the number of beds, baths, basic square footage, and layout preferences. Tour custom homes and tract homes in new neighborhoods to get an idea of the features that are currently available that you would like in your home.

Tip #2: Buy Your Land

It's still too early to purchase plans – first you need your land. The lay of each lot is different, so you want to make sure that any plan you purchase will fit on the lot. There are a couple of ways to save money on lots. If you know someone else looking for land, purchase a larger lot or acreage and divide it up. Often, this is less expensive than purchasing a smaller space. Another way to save is to make sure you choose a lot that is already hooked to the grid, especially in a rural area. While this lot may seem to cost more upfront, you won't have to pay the extensive fees to bring electricity or water lines onto the property.

Tip #3: Customize Stock Plans

If you're dreaming of a custom home, but the cost is out of your reach, consider customizing a stock plan. This is simpler if you know what you want and where you plan to build it. Simply look through the stock plans until you find one that is close to what you want. If you already have a builder or architect, they can help you locate a good plan. Then, after purchase, your builder or architect will make the changes to customize your home, get these approved, and then start the project. To be on the safe side, talk with an architect before purchasing a stock plan. Let them know what you want and ask for a quote on drawing up the custom plan. In rare cases, it may be less expensive to start with a custom drawn plan, especially if your build is relatively simple.