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Those rising construction costs… should you wait to develop?

August 9, 2023 By Tegan Smith

If you’ve been following me for a while, you’ll already know how strongly I feel about addressing the fact that in Canada we are in dire need of housing options.

So many locals are sitting on a wealth of land, with a deep desire to impact the housing crisis, create a new income stream, and do something that really matters with their property…

But, so many are intimidated by the cost of development right now.

Frankly, I can’t blame them. Between rising interest rates, inflation, and the skyrocketing cost of construction, this is a challenging time to develop in Canada.

And yet—one of the smartest moves you could make right now is to kick off your project anyway.

“What??” You may be thinking. “Why would I start a new project right as prices are soaring?”

Because… As I’ve mentioned before, the permitting and approvals process is where the value is.

While government permitting process improvements are coming down the line, they aren’t here yet. It’s likely to take several months to get your project across the line, even with the help of an expert like myself. 

And if you wait until costs drop again to even begin the process? You’re setting yourself for a lonnngggg ride to the finish line.

On the contrary, if you go ahead and start your application now—

🌟You’ll be ready to take action when costs do finally start to drop.

🌟You’re under no obligation to move forward immediately. Once you get your permit, you can wait for the right time.

🌟If you’re not confident with land development process itself, you can sell your property after your application is approved— because massive value is unlocked during the permitting process.

As with most things worth doing in life, developing your property is a long game that requires the right strategy and the right support.

I’m here to equip you with both. And the time is now to get started.

Want to know more about this process and why now is the best time to get your potential development project under way?

Schedule a free chat with me here and I’ll walk you through it.

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