Would you if you could.

[beech]

To build or not to build?

Been thinking about this for a while.

If someone could build you a unit/townhouse in your backyard (stca)obviously,with the final VALUE of newly built property at LEAST to the value of the existing,would you?

The existing would most probably be getting a bit tired and in need of some TLC that the current owner cant afford or is not interested in doing.

The existing would be purchased by the builder for example at the price the new building cost them to build,with tidy up to follow.

The new unit will obviously need no maintanance being new and this could be of benefit to many for different reasons.

Lets take an elderly couple for example and how they may benefit.
They may be considering selling up to purchase new unit elsewhere.
Using the above scenario they have no selling costs or new purchase costs.
They get to stay amongst current friends and neighbors.
They get to live in brand new property.

Whats in it for the builder you may ask,a new IP with a cheap entry point.


Would love to hear your thoughts on the above which i believe is a win/win situation for both parties.

 

[alexlee]

The biggest problem would be (generalisations only):
1) Elderly people tend not to like change. The idea of blowing up the house they've lived in for decades would be very stressful.

2) Same with living somewhere else while they're building the development.

Yes, financially it might be a win-win (assuming nothing hits the fan) but older people tend to live in run-down homes and not repair them. Not necessarily because they don't have money but because they just like things as they are.

In short, this would work only if the owners are ok with change. Not guaranteed by any means.
Alex

 

[beech]

hi Alexlee thanks for the reply,

2) Same with living somewhere else while they're building the development.

They continue to live in original home until the new unit is complete in the backyard.

but older people tend to live in run-down homes and not repair them. Not necessarily because they don't have money but because they just like things as they are

Yes,but im talking about people looking to move into a new unit(how many 1000s)at no cost and very little inconvenience..

 

[alexlee]

The problem I envision is that you convince the elderly owners to agree to the build. One day they wake up, look out the back window and there's a massive hole in their backyard. There's noise, builders trampling everywhere, etc. Then the owners regret their decision and the relationship with you generally sours. The owners may decide that the money just isn't worth it.

I had enough of a problem getting my parents to install cable internet in their place. My parents basically weren't happy even though it was just drilling a hole in the wall to pull the wire through and running a few cables here and there.
Alex