If you are wanting to build a building for your business, but aren’t sure whether you should buy the land or hire the construction company first, we have compiled a list of pros and cons for you to review that will hopefully help make your decision a little easier.
Buying A Lot
One of the benefits of buying a lot when you see that it comes up for sale is that you may be able to get that dream location you were hoping for. You’ve probably been eyeing some land for a while now, envisioning what your business would look like setting on it. If the land you desire for your business comes up for sale, then purchasing it would definitely be something to consider.
Another great thing about buying the land for which you see your business thriving on is that you will probably be able to hold that lot for a while without building on it. This is great if you experience any delays getting started with the building process or perhaps if you want to take a break and save up some more money. You’ll have to do your own research on whether your community has rules on how long your land can sit inactive.
Although these sound like great benefits to buying land before a builder, it does come with a downfall. Once you have purchased your land, you now have to be committed to the way the land is. The footprint and style of your builder will have to comply with the logistics of the land. You may have to downsize or make changes to your building based on the amount of room you have to build. Without having the building designed, it makes it really hard to purchase the right sized land from just an idea in your head.
Another negative side effect to committing to the property first is that it may take you several years to get the dream location you desire. If it is in a highly populated location surrounded by lots of businesses, chances are that you may be waiting for a piece of land to come available for a long time.
Hiring A Construction Company
Hiring a construction company first, like RE Smith Construction, has several benefits to it. You’ll be able to sit down with the design team and draw out your desired building. They will be able to give you input on the type of land you should search for and will also be able to provide you with tips on location. The team of highly skilled individuals will help you make sure that the land you find fits into the criteria of your build plans, that all the specifications are correct, and that the regulations of the city are met. You’ll avoid doing all the research on your own which will save you lots of time.
The other great benefit of hiring a builder first is that they may already own properties that can be built on. Instead of waiting for land to come available, which could take months to even years sometimes, ask your construction company if they have any lots that they could sell you. In this case, although you would be essentially limited to your builder’s inventory, this would allow you to begin building more quickly.
Contact RE Smith Construction
Hiring a local contractor will be a great way to ensure that your project is built to your liking while also being able to support your local economy in doing so. You’ll be able to use a construction company recommended to you by friends and family and will be able to rest assured knowing that your project is being built with all benefits and limitations of the town in mind. If you are looking to build a commercial or residential building in the 4 State Area, we would love to help you. Contact the RE Smith Construction Team Here.