Published at Monday, April 09th, 2018 - 07:16:08 AM. . By Fernande Jeannette.
Leftover lots in existing neighborhoods are often compact but can be good investments for building a new home on spec if you find a plan that suits the particular constraints of the site. Some designs to get you thinking might include 2 bedroom 2 bath Craftsman Plan 479-10, at the top of this post, which is 28 feet square and fits a corner location; and 4 bedroom 2.5 bath.
Once tenants move in, they pay minimal rent and utilities (e.g. $300 a month rent for a 300-square-foot home and an estimated electric bill of less than $35 per month). After three years, tenants are offered a contract to rent to own their homes within four years. This lengthy process is designed to help residents become disciplined about bill paying and the responsibilities of home ownership.
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