Most North Carolinians are well-aware of the amount of new construction currently happening in our state. This is especially true for anyone who lives in Raleigh, Durham, Chapel Hill, or Cary.
It’s easy for NC sellers who see new construction happening around their property and think, “Great! Now I can get a lot more money for it!”
But this is often a misconception.
One reason we think folks have this misconception is because a lot of sellers don’t realize that their property has extensive impervious surface limitations. Note: An impervious surface is any surface that won’t absorb water (i.e., concrete).
If you’re planning to sell your NC property, you should be aware of impervious surface limitations. Here’s a story that explains why…
A building client of ours bought a piece of property. He wanted to tear down the old houses on the property and build a townhome complex on the lots. But because of impervious surface limitations, he’s not able to do that without having to spend a lot of money to deal with stormwater standards.
We recommended he leave the lots as they are rather than paying the money to meet the standards. Now, he’s building new houses for rent, so he still comes out ahead.
Even though this story is about a buyer, he would still need to be aware of the impervious surface limitations if he had been a seller. Because, either as a buyer or a seller, these limitations cost a lot of money to address.
Here’s the big take-away: Before you get your hopes up about the kind of profit you can expect by selling your property, give us a call first. We can help determine any impervious surface limitations on your property, so you can have a realistic expectation of what you should be able to get for it.
Set up a meeting with us here: https://www.dklbuyshouses.com/contact-us/
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