6 Reasons Why Land Assembly Makes More Cents (and dollars) by Geraldine Santiago, Realtor
Land assembly is a growing trend in and around metro Vancouver and in order to understand some of the aspects about land assenbly, here are some reasons why selling your home as land assembly makes more cents:
Tear down: Your house, or the improvements on your property have little or almost no value to it. In essence, it is a ‘tear down’. Even if you spend money to do a renovation- fix a bathroom or kitchen, it is better off selling the land for its value as a land assembly than to do a small renovation because your property value as a collective will be worth more.
Finances: You don’t have the money or the energy to attempt to upgrade, renovate or fix. You are already stretched too much financially and fixing up your property to sell will be even more strenuous on your finances. You don’t have the funds to fix the roof and heating and plumbing systems are in desperate need of replacing. In selling your land together with your neigbours collectively, your land will can be valued more than if it were to be fixed or repaired.
Irregular sized lot: If you have a property that is either too narrow, too small or you have an irregular shaped lot, that is difficult to build on, selling your land as an assembly can give you a higher property valuation.
One storey bungalow: If your house is a small, one storey bungalow and in your neighbourhood, properties are being built with two or three storey homes, your property is not utilizing its best and highest use. Therefore, you will definitely attract builders. If it is a ‘stand alone’ sale, however, where you are not selling with your neighbours, you will not get as much money as you would if you sold with your neighbours on the block.
Lot size: In land assembly, it is your lot size is a tremendous factor. If you have a huge lot, selling your home as a land assembly with your neighbours can truly give you an edge in getting a higher value.
Commercial district: If your next door neighbour or a property on your block is designated CD commercial zoned, and you are in a residential zone, you should sell your home as a land assembly. Having a CD commercial zoned property means that potentially a builder can have a mixed use site with both commercial and residential properties.
If you are a homeowner thinking about selling your home as a land assembly, our seminar on September 8, 2018 at the RE/MAX Crest office from 11-1pm with industry experts will enlighten you on the process, the cost, timelines and more! To pre-register, go to www.landassembly.me . Don't miss out on a tremendous opportunity.
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