11 Nov '11, 3pm

Discover Your Passion: What's Your Highest and Best Use?

Discover Your Passion: What's Your Highest and Best Use?

Live your passion. Do what you love and the money will follow. If you love what you do, it doesn’t feel like work. You’ve heard this cute advice a hundred times, but what if you have no idea what your passion is? It’s time you find out… In real estate, there’s a concept called “highest and best use” (HABU ). Properties are valued based on the best use of the land that will produce the highest value. For example, appraisers may value a two-bedroom house on a busy street next to retail shops as if a strip mall occupied the land, because the best use of the property that produces the highest value is a strip mall and not a house. In other words, other two-bedroom houses in the town might be worth $200,000, but an investor may pay $600,000 just for the land in order to build a strip-mall. When you use the other 8 hours to create, you must focus on your HABU — your unique talen...

Full article: http://www.care2.com/greenliving/discover-your-passion-wh...

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