Night Sky View: Mountain Home Real Estate Investment Project
Build Location: Mountain Home, Idaho / Elmore County
House Plan: Palouse, Modern Farmhouse Plan
Night Sky View is a residential real estate development in Mountain Home, Idaho comprised of 11 one acre lots. We were first introduced to this investor after building a Pathway Builders spec home on one of the lots.
After building our spec home on the lot, the owner of the Night Sky View development wanted us to build several more spec homes in the neighborhood for him to resell. Because several of the other lots were sold as build on your own land lots, Pathway Builders built three homes for this investor, a Preston, a Pioneer, and a Palouse.
Background For This Mountain Home Real Estate Investment Project
This client was a seasoned real estate investor who had previously bought land and built spec homes on his own in Treasure Valley area. He was a military pilot also stationed in Mountain Home and had purchased the raw land for this residential development several years before with the goal of developing the land and selling the lots as ready to build and for several of the lots in Night Sky View, this is what happened.
However, after selling a few of the lots, this investor decided to go a step further and build a few spec homes for resale in the neighborhood with the goal of turning a higher profit versus selling the developed lots.
This is when we sat down together and discussed how we could help. After reviewing our pricing and knowing that we were able to handle the septic systems, which was the only utility that hadn’t been added to the lots, this client determined that it would be worthwhile and more affordable to have us build these spec homes versus building them on his own as he had done in previous projects.
Build Details
For this real estate investment project, we worked with the investor to determine a build schedule for the homes that met his financing needs so that the homes were not all built in the same timeframe. Pathway Builders helped to determine which home plans to build, how to customize with desired features, and the interior color schemes for each of the three spec homes.
On one of the lots, we built a Palouse with a custom garage configuration. With the position of the home on the lot, we adjusted the garage to a side load garage, which meant that with the position of the house, you could drive straight into the RV bay, and the garage was no longer facing the front of the house.
On the Pioneer home plan, we added an RV bay and a few custom upgrades like built-in mudroom shelving and custom tile flooring in the bathrooms.
For the third spec home we helped the investor selec the Preston home plan. This plan was a similar square footage, just over 2,000 square feet, and had three bedrooms plus a den that could be converted to another use like a home office as needed.
Results Of This Mountain Home Real Estate Investment Project
On this Mountain Home real estate investment project, we worked together with the investor on a cost-plus contract versus a fixed price contract because this was our client’s preference. When you work with Pathway Builders on a real estate investment project, our team will work with you to find a contract and pricing structure that works best for you.
The Pioneer, with RV bay, was sold within 15 days of being on the market. The other two homes sold in a similarly quick time frame, allowing our client to realize the returns from his investment as quickly as possible.
Night Sky View Real Estate Investment Project Gallery
Build Your Investment With Pathway Builders
If you are considering a real estate investment project in Mountain Home or elsewhere in Treasure Valley, we’d love to talk with you. We offer competitive builder rates, flexible financing options, local real estate insight, and much more. Learn more about working with Pathway Builders to build your investment in Treasure Valley.
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