Paying Cash for a House? Dave Ramsey Says Time to Build New (Like he is)!

Paying Cash for a House? Dave Ramsey Says Time to Build New (Like he is)!

About 4 months ago, I did a video questioning the wisdom of paying cash for your house purchase.

https://youtu.be/46Kgn48KMc4
At the time, there were very few homes on the market and with multiple offer situations, many people were buying homes with cash.
If you instead took out a big mortgage at a sub 4% rate, congratulations!
But if you’re still thinking of paying cash, now is the best time to build your own new home.
With builder’s now pulling back, you can save a ton of money by having a builder build for you.
Yesterday, I shared Dave Ramsey’s advice to a caller on his show where he not only advised the caller to go ahead and build their new home, but he said he’s about to do the same!
My Book “Don’t Buy a New House! BUILD IT” shows you how you can too,
You can see some of the numbers in my prior video Here:
https://youtu.be/46Kgn48KMc4

But better yet read my book, there is a link below!

✅ Get Print Book on Amazon: Don’t Buy a New House! BUILD IT
https://www.amazon.com/gp/product/B09PRTVBMH/
✅ Amazon Author Page:
https://www.amazon.com/author/rogerluri
✅ Download FREE eBook:
https://www.ld2development.com/custom-homes/
_________________________

✅ Let’s connect:
YouTube: https://bit.ly/LD2YouTube
Linkedin: https://www.linkedin.com/company/ld2-development/
Facebook: https://www.facebook.com/LD2Development/
Instagram: https://www.instagram.com/ld2development/gram: https://www.instagram.com/ld2development/
Does Your Home Needs More than Just Staging!

Does Your Home Needs More than Just Staging!

Recently I noticed that a home that we built in Old Town in 1997 or 1998 sold for just over $1M.

The reason I was struck by this was that the person who sold it had purchased the house 2004 for just over $1.5M!

Now when he bought it in 2004, the house was then only a few years old and the finishes were all stylish and new.
But when he sold it 15+ years later, the finishes were old and dated. The level of finishes was just not on par with new houses that had gone up in the neighborhood which were now selling for well over $2M.
With the new construction homes nearby priced higher, his house was being presented as a “fixer upper”.
His house has great “bones” (it’s a full masonry house, 3 story + basement).
If he would have put maybe $150-$200k into some updates and to address some deferred maintenance, the house would have compared favorably to the new houses in the neighborhood and would have easily sold for $1.8 – 1.9M.
Instead of losing money, he would have been able to easily put another $500-700k in his pocket.
Most homeowners don’t spend a lot of time thinking about updating and improving the condition of their home on a year by year basis, so it’s not unusual for a home 10 or 20 years old to be in need of some updating before hitting the market.
If like this gentleman, you suddenly find that it’s time for you to move, you may not be prepared. Still, even if he wanted to move right away, the house could have easily been updated and put on the market after he left town.
I felt bad that he didn’t get out of his house what he should have. I wish he had talked to me before he put his house on the market, but unfortunately he did not.
The good news is that the people who bought the house got a great bargain. They did an extensive rehab and the house is now beautiful and compares favorably with new $2M+ homes nearby.
The new owners will do really well on it when they sell!
Bottom line is: Before you think of putting your home on the market, Make sure go through it’s condition and marketability with a professional who can help you to maximize your return on investment!
✅ Get Print Book on Amazon: Don’t Buy a New House! BUILD IT https://www.amazon.com/gp/product/B09PRTVBMH/
✅ Amazon Author Page: https://www.amazon.com/author/rogerluri
✅ Download FREE eBook: https://www.ld2development.com/custom-homes/
_________________________
✅ Let’s connect: YouTube: https://bit.ly/LD2YouTube
Linkedin: https://www.linkedin.com/company/ld2-development/
Facebook: https://www.facebook.com/LD2Developmen/
Instagram: https://www.instagram.com/ld2developmen/
Dave Ramsey Says Build Your Own New House Now!

Dave Ramsey Says Build Your Own New House Now!

Yesterday, I shared Dave Ramsey’s advice to a caller on his show where he not only advised the caller to go ahead and build their new home, but he said he’s about to do the same!

My Book: “Don’t Buy a New House! BUILD IT” shows you how you can too,
You can see some of the numbers in my prior video Here: https://youtu.be/46Kgn48KMc4
But better yet read my book, there is a link below!
✅ Get Print Book on Amazon: Don’t Buy a New House! BUILD IT https://www.amazon.com/gp/product/B09PRTVBMH/
✅ Amazon Author Page: https://www.amazon.com/author/rogerluri
✅ Download FREE eBook: https://www.ld2development.com/custom-homes/ _________________________
✅ Let’s connect:
YouTube: https://bit.ly/LD2YouTube
Linkedin: https://www.linkedin.com/company/ld2-development/
Facebook: https://www.facebook.com/LD2Development/
Instagram: https://www.instagram.com/ld2development/

Dave Ramsey: https://youtu.be/Vgbny3M6VOo

Appreciation vs Depreciation

Appreciation vs Depreciation

People often talk about houses appreciating, but what if I told you that this is actually a myth?  What actually appreciates is the land that your house sits on.

The “sticks and bricks” and all the building components that make up your house itself actually start losing value as soon as they leave the supplier, just like any other items you buy new at the store and bring home to use.
The appreciation that you see in your home’s value over the years includes the appreciation in land value plus the affect of inflation on replacement value (which includes both labor and materials).
In other words, the cost to build a new house keeps going up, so an older house gets a bump from inflation.
Still, This value is actually reduced by the depreciation of the existing structure. As the existing structure loses value over the years, at some point, the value is equal to the land value.
When you are close to this point, unless you are talking about major renovations, any money that you put into fixing it up is basically down the drain because it will still only be worth land value.
The repairs / renovations will just not be enough for a buyer to think it’s in move in condition, so it will still only appeal to a buyer who wants to tear it down.
That’s why you always want to look at any major renovation project very carefully and extrapolate the future value of your home.
In other words:
1. Value today?
(Estimated renovation cost)
2. Value after planned renovation?
3. Value estimated upon future sale?
For #3 you’ll need to estimate how long you’ll probably stay in your home.
What we see is that when we renovate, the finishes seem new to a buyer for the first few years. After a few years, finishes begin to seem dated and negatively affect the price.
If you own a property that is in need of some major work, you’ll want to get a professional to help you to evaluate your options.
I find that often, people are surprised when they look at the numbers.
It can make a substantial difference to your bottom line.

✅ Get New Book on Amazon:

Don’t Buy a New House! BUILD IT https://www.amazon.com/gp/product/B09PRTVBMH/

Of course It’s going to take some effort on your part and it’s definitely not for everybody, but if you enjoy creating new things in your life and building wealth in the process, it will be a lot of fun for you.

✅ Amazon Author Page: https://www.amazon.com/author/rogerluri_________________________

✅ Let’s connect:

YouTube: https://bit.ly/LD2YouTube

Linkedin: https://www.linkedin.com/company/ld2-development/

Facebook: https://www.facebook.com/LD2Development/

Instagram: https://www.instagram.com/ld2development/

Mistake to Pay Cash for Your New House?

Mistake to Pay Cash for Your New House?

More people are paying cash for their homes now!

We’re seeing some people who would really like to find a brand new home settling for an older house in order to keep it within their cash purchasing budget.
A cash offer is much more likely to be accepted In a multiple offer scenario.
So if you have the cash, it seems like a great strategy; But here, we’ll look at the numbers to see how this investment’s going to play out for you in the long run.
When you really look at your home purchase as an investment and compare the returns, It’s just crazy not to strongly consider building your own new custom house.

So get my new book: Don’t Buy a New Home! Build IT and learn how to do it.

 ✅ Get New Book on Amazon: Don’t Buy a New House! BUILD IT https://www.amazon.com/gp/product/B09PRTVBMH/

✅ Amazon Author Page: https://www.amazon.com/author/rogerluri