Is Pre-Construction right for me? 5 posts by 5 users

Posted: 03/01/2008 at 08:59AM

I'm looking for my first house to live in for about 2-3years & then sell for hopefully a good profit. Could I get this with a pre-construction? I live in Corpus Christi, TX & there are alot of new homes going up everywhere. About a little over a year ago a 1500 sq/ft 3/2/2 was selling for about $150,000.00 & now the same type of house is selling for about $135,000.00 So is this possible or not?

Posted: 04/21/2008 at 04:57PM

Sounds to me like the answer is no, you should not expect to make a profit in 2-3 years. If prices declined 10% over the past year, what factors are going to make them go up over the next couple of years and even if they do go up slightly, is it even enough to cover your commissions, closing costs, etc? If you're buying to put a roof over your head, that's fine, but you need to find a bargain if you want to turn a profit in such a short time frame and I see nothing indicating that you are buying at anything but retail.

Posted: 07/10/2008 at 03:38PM

Being in the business I meet a lot of people that have been scammed ... look over all of your paperwork with an attorney and make sure you have performance standards in your contract ... if the developer /builder does not perform then you have a way out ...