Ever wonder what really happens behind the scenes
in construction, real estate and development?
We pull back the curtain on the new home construction
industry, the real estate market and the trends
shaping it all. Discover the stories, insights
and expertise behind the process of building
a new home. Join us for Trust the Process podcast
and let's build something great together. Welcome
back to Trust the Process, the podcast where
we talk about the real estate industry, new home
construction. and everything in between. I'm
Krista joined again by Michael and today we want
to kind of wanted to look at some of the things
that might shock you about building a new home.
Things that you may or may not realize or maybe
the sticker shock. Sticker shock. Yeah. High
and low sticker shock. Both ends of it. Yes.
So sticker shock. Didn't know that cost that
much or gosh I would expect that to cost more.
So some of those things that might surprise you.
Hopefully we can Show you some things you didn't
know. Let's do three on the high side and three
on the low side. This is apropos to what I've
been doing the last three or four days. I've
been going through every project that are near
completion. This is landing way higher than one
project in the northwest part of town that's
way over budget and just a disaster of a spreadsheet.
and the comps aren't there to support. It's going
to be a challenge. It's a beautiful house though.
It might be a disaster of a spreadsheet, but
it is not a disaster of a home. That's probably
why it's a beautiful home because I built it
as if it would be a $2 million or $2 .2 million
home and it's just a small version of a $2 .2
million home. So can that area support a $900
,000 value? I don't know. We're going to find
out together and we'll have to kind of maybe
check in on that after. I like to look at things
as a percentage of the value of the home, not
the value of the entire, or the cost of the entire
project. I look at it, I'm basically creating,
let's take a house in South Shore Lake, Las Vegas.
We're creating a $2 million home. So then this
line item is what percentage of that end of day.
And I kind of took that and said, okay, what
percentage would shock people to say, I'm building
a $2 million home. but this big thing only cost
2 % of the entire budget. Holy cow, I thought
it'd be way more than that. Conversely, oh my
god, this thing that I didn't even know was a
cost center is 10 % of the budget. Holy cow,
that's just insane. So, I don't have an example
of that, Egregious, where something you didn't
even know was a line item is that high of a percentage,
but I wanna start with the bad news first. So,
things that... still give me sticker shock to
this day, and I know would give a newbie or a
person building their own custom home, a sticker
shock, would be the design and engineering. You
just don't realize, we've kind of talked about
this in the past, but you just don't realize
how much the architect, the mechanical engineer,
the electrical and plumbing, the structural,
calcs, the trust design, all those things that
kind of come in to play before you even move
your first speck of dirt. And then ongoing inspections
after that, third party QAA as we call it, so
we might have to have our soil inspected after
we excavate and we can re -compact. Those are
called lifts. You know, we have to have that,
a boring sample done and all the front end work
before you break ground. So just when you consider
all of that, when you factor in... everything
that is not related to actually building the
house but is related to the design and engineering
and quality of the home it ends up being on the
order of an average two million dollar home and
it ends up being on the order of around seventy
five thousand dollars so that quick math that's
around four percent of the end -of -day sales
price of the home goes to the paper that the
home is designed on. It goes to the third party.
And nothing tangible that at the end of the process
anybody could say, and here's my, you know, there
isn't anything to, yeah. And every jurisdiction
has different requirements. Some jurisdictions
have a requirement that if it's under 3 ,000
square feet, it doesn't need a structural engineer.
You can follow standard details. Not every city
has these requirements. Some cities, novel concept,
let you do, let your professional... electrician
lay out and and vote out your home to say okay
the load calcs are this and this for this do
we really need to spend no offense to Mariana
engineering do we need to spend six to seven
thousand dollars calcing that house out when
we don't even follow the plans anyway we don't
follow the plans anyway we don't follow exactly
every single outlet we add a lot of things we
do a framing walk even on a home that's not sold
I do a framing walk with the electrician to say
add a box here add this here do this Let's upgrade
it in the box here, add this here, do this. Let's
upgrade it in this way. So we don't follow it
anyway. And there's just things that you can't
know until you're standing in the home. We talked
about that last time you came. Gallery lighting.
You can't feel where lighting should be until
you're actually in the flow. It's different on
paper sometimes. It is. And a lot of times your
engineer just kind of plots it out. Okay, four
-can lights in every room and they just kind
of figure it all out. Slightly over to be right
above the... Yeah, exactly. Those are things
that still surprise me, and no matter how much
replication we try to do with our standard floor
plans, there's still a cost. Even replotting
a home and changing the title block and changing
the address and showing how it sits on that particular
site, it's still a $15 ,000. By the time it's
all said and done, to add up another $5 ,000
for quality assurance engineering for the actual
site -specific conditions, you're at $20 ,000
on a plan that we've built six times. It just...
To me, that's sticker shock. Topic of the conversation.
Whether we could do an entire episode on arguing
whether or not we should be doing those things
or whether or not those things are needed. I
do find it interesting that not every jurisdiction
requires it, so why do some and not others? I
can't find a reasoning behind that. You know,
we have something on certain permits, standard
details. So you don't have to get a soils test
to do an ingrown pool. You don't have to do a
soils test for a wall, especially a fence. I
mean, if you want to do a retaining wall. There
are standard details, though, for Nevada soil.
So I just find that interesting that we don't
have that for a home and why that's so cost prohibitive
to do it that way. So that's sticker shock number
one. So that would kind of be the design and
engineering piece of it. Yeah, I kind of lumped
those together. A lot of third party stuff are
engineering firms, so they're going to come out
and do the sample, the soil, and make sure they're
compacting. So since it goes to a company that
has engineering in the name, I call it engineering.
So that's sticker shock number one. At what number
again? Around 4%. That number changes as you
get a bigger home. It might start to dwindle
or diminish. a topic we talked about a couple
weeks ago was why it's so much riskier to build
entry -level housing because that design and
engineering becomes 10 % of it. If you're trying
to build something for 450 ,000, what engineer,
what firms, how are you gonna get all your engineering
done inside 45? You can, but it's just. Challenging
you have to start replicating and then getting
those costs down on each individual home You're
still gonna have probably ten thousand dollars
on each individual home still a big line item
So you only get that percentage down on an entry
-level home by replication That's why there's
not so there's not many unique entry -level homes
when you drive through drive through neighborhoods
that are entry -level or mid -market There's
a lot of replication. That's just you could not
have that kind of money spent on on a $500 ,000.
It has to be. It has to be a simple shape. It
has to be a simple floor plan. It has to be a
pad. It has to be poured in a simple square rectangular
shape. So that's 4%. What else would you shock
us with? I would say permitting to me is a shock.
Not in terms of a percentage, but just how much
a building permit and impact fees and plan check
fees can add up. for the average home. They go
off of size and fixture count and things like
that. But at the end of the day, it's going to
be hard to get a permit and all the accessory
fees done for under $15 ,000. So nothing less
than probably seven and maybe nothing more than
around 20. But to me, that is a lot of money.
that changes per home? Or is that just as a standard?
It changes in terms of the fixture count. It
changes in terms of the size. But it's incremental.
A standard permit has X number of dollars. A
plan check fee is usually always, let's say,
$1 ,500. It's just the raw cost of it. All those
jurisdiction -related fees that don't really
go anywhere, they don't go into the home, it's
just the city allowing you to build. Now, I'm
not going to go down that rabbit hole of trashing
the fees because I do know that that's a big
revenue source for cities that are growing and
it represents the fact that the city is growing,
therefore our maintenance costs are going to
be higher and I understand there's a calculus
that goes into that. And those permit fees pay
for your inspections. So if you're spending,
let's say, $2 ,000 ,000 or $4 ,000 square foot
home, a permit with a plan check and everything
is impact fees around $15 ,000. So yeah, not
a huge percentage of the budget, not even, or
the end of day value of the home, maybe about
.75%. But to me, that just seems like a strikingly
big number. And anyone I've worked with on the
build the suit side, if I've had a client that
came to me to build them a home, the permit just
shocked them. They just weren't prepared that
a permit would cost that much money. And it's
a good point because kind of what do you get
for that, right? I mean you get permission to
build. You get permission to build. But you also
get the inspections. You get the inspections.
So there is a labor. There is a cost to the city.
There's about, in our jurisdiction, about $1
,500 worth of plan check. So I get that, that
they're kind of auditing the plans for code.
So, and then the engine. city inspector is auditing
the bill to the plans. It's just kind of cascades
down. That being said, the amount of deviation
away from the plans and the amount of things
that are either not caught in plan check or called
out as simple labeling conventions is astounding,
kind of like a job justification. It feels like
I'll have to find something in this plan because
I have to justify the fact that I'm, you know,
getting $1 ,500 per plan to audit set plans for
code. And if you're right. So I do think that
there's a lot of kind of overlap there that might
be unnecessary. But if they don't have a value
add, then it's harder to justify those fees without
calling them just flat out impact fees. I mean,
they could just do that and just say it's $10
,000 impact fee because you're adding a rooftop
to our city. I'm not going to mention that they
get to tax it forever. Yeah, that's true. They're
getting a tax on it, but it's okay. I'm double
dipping a little bit, but that's we've created
a model of growth that is really throws a lot
of the weight on the individual cities and counties
to maintain those roads and the stir affairs
and schools and there's a lot of strain that
comes in you know it's a city and a jurisdiction
is a business too so I give them grace on that
but it's to me it's a sticker shock so I'm not
indicating that it'd be lower but you know it's
and then there's also the cost of just running
the building department which a department that
I love so much. Okay, so that's one. Okay, so
that's two. What would be the third sticker shop?
I'd say the best for last. I sandwich permitting
in the middle. Don't get me wrong, there's a
lot of things that would probably shock a lot
of home buyers or bill to suit clients to say,
oh that seems more. I just picked either the
highest percentage or the most surprising. So
the third one, is exteriors, not the exterior
of the house, but the exterior. Now, we have
a bit of a skewed lens because we build custom
homes, completely move -in ready. 99 % of our
builds have... pools and spas and outdoor kitchens
and fully landscaped backyards. And we obviously
fence everything and build stucco block walls
and cap them and build view fencing. And we developed
the entire lot. So my lens is a little skewed
on that, but we haven't, I've done other projects
where we haven't and the exterior spend is always
higher than you expect. So on one of our customs
that sells for around $2 million, if it has a
pool and most do. 10 % or more of my budget is
just the outside. The driveway, the back patio
pavers, the pool, the spa. 10%. 10%. So we're
around $210 ,000, $215 ,000 on a $2 million home
for the outside. Yeah. The fence, the landscape.
Right, hardscape. Hardscape and pool. And a pool.
So. We're spending, at our cost, we build pools
at our own cost, and we're spending around $90
,000 just in hard costs. Equipment, excavation,
gun ice. I mean, we do a nice, we upgrade a lot
of things. They're all smart pools and telecenter
run by your phone. But even if I were to trim
it down to bare bones, I'd still be spending
in the 70s, probably 71, 72, probably around,
I would say, 75 ,000. I don't think you could
put a pool in anymore for under 70, and that's
just a basic hole in the ground. Yeah, exactly.
There's things you could cut, you could not heat
it, and you could probably get those numbers
down, but it just seems like once you move your
shovel, just figure $70 ,000 and then go up from
there. And that's our cost. That's not a company
being greedy. That's us paying the excavator,
us paying the ... the rebar people. That's paying
the pool plumbers directly. So those are our
costs. I'm talking about pulling back the curtain.
I mean, that shows you. Those are our true costs.
That's what we're spending on a pool. And 10
years ago, companies were retailing pools for
$40 ,000. Isn't that crazy? It's crazy. And there
is a recession in the pool building industry.
So I don't know if... Some of those costs might
come down. I don't know, but you hear you talk
to pool companies anymore and sometimes it's
a little slow. Business isn't what it used to
be. Yeah. And this is Las Vegas. Everybody wants
a pool, so you can imagine that there isn't a
desire. There's not a demand in terms of people
that can afford it, but there's a desire for
it. Right. They kind of price themselves out
of the market for a while. I wonder. Yeah. It's
not a depression, but it's definitely a pool
recession. So it's been good for us. We're able
to schedule our people. It's much easier to keep
a pool going. Our in -house person who manages
it all, I know she can get a pool done in about
eight weeks, which is crazy. So we kind of line
it up with the last 12 weeks of construction
of the home. We kind of work backwards from there.
So we don't have too much, number one, cost outlay.
Right. And people aren't on top of each other.
Exactly. We want the outside done ideally as
much as possible. and then as we're finishing
the inside, we're getting the pool going. Exactly,
because you can imagine if the scaffolding were
up for the stucco or the exterior, and you've
got a pool, you know, putting it back there,
somebody trying to dig a hole. You have to manage
those things in a way that lines up. Yeah, get
the outside down. Okay, so those are the top
three. So quick wrap up the design and engineering.
the permitting and fees and impact fees, and
then the outside, the hardscape and landscape
on the exterior. And even a basic, we have a
six -home project coming that I have no intention
of building out the backyards. And just the driveways
and the back patio still will have pavers. It
just won't do anything beyond the end of the
back patio. But by code, I have to have landscape
planned for the city, for the front. So we have
to budget and still probably spend around $40
,000 to $50 ,000 for all the hardscape and landscape.
And that's just a house with a basic front yard.
And the driveway and the back patio done in pavers.
You don't think about that driveway, but it's
an expense. It's an expense. Whether you do a
paver or whether you do a concrete slab, it's
either way. Either way. And driveways are big.
They're covering a lot of space. I mean, it's
always a minimum of a 500 square foot driveway,
but most of our homes have three car garages
or more. And then we send them back from the
street a little bit. We're usually a thousand
to 1200 in total between the little back covered
patio that will have pavers, the front sidewalk
and the driveway. And pavers are... $8 to $10
per square with the product and the labor and
all the accessories. So you multiply that by
that. So $12 ,000 and then that's just a driveway
sitting in the middle of dirt leading to your
house. So just, it's just a lot of, it's just
a big cost. So when you're starting that as your
basis and then you got to figure out all the
irrigation and everything on all the plants and
the ground cover. It adds up. So you pull up
and that's what $40 ,000 bought me. Okay. When
I pull up, how about $2 million? $215 ,000. I
got a driveway and some trees and some, okay.
So it's just sticker shock. So those are the
ones that would shock us in terms of the high
prices. What about the other end of it? Where
would you drop down and maybe let us see that
there isn't as big an expense as you might originally
imagine? Yeah, right. Some of these are actually
bigger line items than the first three, but they're
such integral parts of the house, you would expect
them to be higher. So I consider it reverse sticker
shock. That's brilliant. Well, I still spent
1 .7 in build cost, but the lumber was only X
number of dollars. So that leads me to the first
one is lumber and lumber is a hot button and
lumber is the skeleton of the house and I get
it. People feel like, oh, you know, it's going
to be a huge dollar amount, but a lumber package,
assuming kind of average lumber prices of three
to $400 per thousand board feet, which is kind
of where they hover and average. We have spikes
and up and down, but for the most part, that's
where they're at. So with lumber prices around
that price point, it's a lumber package on a
4 ,000 square foot home might be around $50 ,000
to about $10 a square foot on a home that will
sell for five to $600 a square foot. So we're
talking, that's a shock. It's around. Quick math,
2 % of the end -of -day value, one fiftieth of
the value of the home is lumber. It feels like
it'd be, to me, it feels like it'd be 10%. I
just, I mean, I'm a seasoned builder and I still
feel like, oh wow, that was only 50 ,000, including
- We had that come up in another issue and that
you mentioned the cost and we got a lot of feedback
out of people like, what? So yeah, it is a shock
that it's as low as it is. Right, you would think,
oh, framing and lumber, that must just be a huge
- And it really isn't. How far you can get on
10 % of the budget, you can be walking through
a house, the slab is done, everything, you get
really far in. And then the expensive stuff starts.
And don't get me wrong, there's a lot of 30 ,000
here, 40 ,000. Trust packages are around 25 ,000
for a 4 ,000 square foot two story home. By the
time you buy the floor trusses and the roof trusses.
So that's a small footprint. small, relatively
small for how much square footage you're getting.
Yeah. And you're spending around $25 ,000. And
that doesn't factor into your lumber costs? I
mean, they are both a wood. It's both a wood.
I break them out differently. But yeah, you could
argue that it should be. So even if you were
to add in trusses, let's take our Briel floor
plan, which is a 30 -acre square foot two -story.
Lumber package is around $43 ,000. So around
$10 square. The truss package is $25 ,000. So
we're at around $70 ,000. for all the lumber
and trusses and then include specialty lumber,
glulam beams, LBLs, everything that would go
into all the hardware, the tie downs, the straps,
everything. Trust play to me. Compare that to
the landscape that we just talked about. That's
the whole house and the stability and the function
of the living quarters. The landscape might die
next year. You might take it out and say, I don't
like these magnolias. I'm going to take them
out. But relative perspective. Right. When you're
not even at 10 % of the end of day sales price,
ideally. Yeah, I find that interesting every
time I look at a budget, yet I still spend over
a million. Oh, this is good. Our lumber and framing
and everything is like a hundred and thirty thousand.
This is great. We're going to be so under budget
when we never are under. Under budget. That's
not my vocabulary. What else is lower than you
think we might expect? To me, windows and exterior
compound sliding doors. OK, if we do a low E
really high quality vinyl window, which is one
of the most affordable windows you can get. So
granted that it's not the most high end window,
but it's a really great window and it works really
well and it will last for a really long time.
It rarely discolors. It's just a good product.
Let's go back to that Brielle floor plan. That
house has four huge sliders, four huge sliders
and 24 windows. And that entire package was $23
,500 with install. To me, that seems really cheap
because when you walk through a home that doesn't
have windows in it yet and then you come back
and visit a week later and all the windows are
in it feels like a different house it just feels
like a home and to me that's always surprising
now for reference if we were to go to a bronze
thermally broken aluminum window and slider those
can get up there but even if we took this to
the tippy top most high -end window I still would
not spend more than $80 ,000 For the highest
end window for 20 plus windows and those 20 plus
windows and four huge sliders to me That just
seems that does see right and then as a developer
We make decisions on how to spec homes for right
for those reasons. Okay, what kind of lot does
this have? What kind of day sells price? Can
I cut a little bit here the end -of -day buyer?
I will tell you that I've never had A buyer dismiss
a home based on the windows as far as I've known
they that is never a deciding factor So I will
do it and we've upgraded some of our specs in
like Las Vegas with better doors and windows
just because I feel that the home and the lot
deserves it and then if I Upgrade a couple other
things then maybe that buyer that's shopping
me against another builder on the other side
of the lake Might come in and say oh their toll
brothers is doing black aluminum and you're at
2 .4 and they're at 2 .2 and so you just do things
because you don't want to not do it because you've
over specked the home and other aspects but it's
one of the last things that I upgrade I mean
to pull back the curtain but it's one of the
last things I upgrade because I know from experience
that it does not move the needle in sales price
so given the option many buyers will elect to
upgrade it with us They at least want it on the
high touch point sliders. I want those upgraded
the thermally broken. Sometimes you you know,
we'll mix and match Rarely do you touch your
windows? I don't touch them. You just don't really
open I mean just not that they're not a high
touch point. So But buyers will choose to upgrade
them but never dismiss a spec cone that already
has. And the whole point to a window is that
you're looking through it. So you're not looking
at it. Right. That's a good point. That's a good
way to put it. That's the last thing you notice.
Do you notice that? It's still a beautiful glass
scene outside. Right. And then the outside, I
mean I look for those things but I would never...
not buy a home because of its window type. I
look at those things too, but I don't think the
average person does. We also have a podcast about
home building. So yes, we do pay attention to
those details, but I don't know that the average
buyer would. I don't think. It's definitely not
a decision maker. Right. Okay, so that's two.
So the third one I would say, again, in relation,
this is a huge line item and this is really hard
to track, but it's labor. So it's hard to track
because if I hire a sub, the windows for instance.
Okay. How much of that 23 .5 is labor? Probably
around $6 ,000. Maybe not even that much. So
I can, I roughly know how much those things cost.
If my HVAC ductwork and the condensers and everything's
around 38 ,000, I know that around probably 8
,000 of that was labor. So on a home that might
cost around $300 a square to build with an end
of day value of around $500 per square foot.
Your labor is probably only $100 a square. And
that is generous, actually. Really? Yeah. Because
labor is less than half of the total cost of
construction costs and about 20 % of the end
-of -day value of the home. And I find that alarming.
Because it wouldn't come together if it weren't
for the labor. Right. And when you walk one of
our sites, sometimes you'll see 15 to 20 guys.
They're working with all their equipment. and
all their knowledge, and their work ethic, and
sometimes it's July, and it's 115 in Las Vegas,
and they're still there working. Sometimes our
roofs tend to land in June and July. Oh, sorry,
you're gonna be putting this roof tile on in
August. And we go into a house sometimes, and
I've often, it feels almost like a beehive, it's
just bustling. It's a beehive. Everybody's everywhere,
and people are coming and going, and everybody's
got their job, their mission, their point, and
they're all working in unison, but individual,
it is mind blowing. It's mind blowing. How much
can be happening in one time? How much can be
happening? How many man hours? They generally
say an average home is about generates three
full -time jobs for the economy. So if you just
were to say how many, what's a full -time jobs
are up $2 ,200 a year. So that's about 6 ,600
man hours that goes into the average home. And
if our homes are twice the average, we probably
have about 12 ,000 man hours in a home. And to
think that that's only 20 % of the end -of -the
-day sales price to me is just crazy. That's
wild. Yeah. That is. Yeah. And what about the
pretty stuff inside the surfaces, the flooring,
the countertops? In terms of sticker shock? Yeah,
I mean where do those fall? Are those higher
than you'd expect or are they right where you
might imagine it to be? I think that's why I
didn't include them because I feel that they're...
Generally, if you're interested in home building
or considering building in a home or you're a
homeowner or you're interested in even renovation,
those are really transparent things to get the
pricing on. Appliances, very transparent. You
can go on to a great appliance vendor, Appliance
by Design. You can go to these places and see,
okay, this high end range is $19 ,000. We know
it. Yeah, that sticker shocks me to have a $19
,000 range, but it's a knowable and you expect
it. I'm not saying you expect it to cost as much
as a car, but you know it's not cheap. So that's
why I didn't include it, but the pretty stuff
to me is, in my opinion, I think I've become
so numb to it. Maybe I should be surprised that
we can spend 80 to $100 ,000 in a cabinet package
for an entire house, but that doesn't shock me.
It shocks me a little. Yeah, I mean, don't get
me wrong. To me, it's not top three. And I know
the cost, but it's still, it's every time I'm
like, really? It is, it is astounding. So we
had a house that was, cabinets are thought of
in boxes. You break them into a box. Even if
it's, you know, a whole bank of cabinets, it's
how many boxes made up that bank of cabinets.
We had a house that's just not finishing. that
when I really broke it down, this one did sticker
shock me, it was $1 ,200 per box. It was 49 boxes
and it was a $62 ,000 cabinet package. So it
worked out to be $1 ,200. A troll in the comment
section is going to do that. It's actually $1
,134. Get a life. Go start a cabinet company
and make yourself useful. Yeah, go get busy.
Yeah, go get busy. So yes, when I really broke
it down and you walk through the house and think...
Really that box is open and that's an average
some boxes are more expensive than others But
at the end of the day we have a data set of 49.
That's a pretty big data set So the average is
pretty reliable in my opinion so that yes, so
I would say among the pretty stuff I think cabinets
have carry really high sticker shock in a luxury
home to me Appliances always carry a really high
sticker shock in terms of the pretty stuff I
mean, there are Thermador refrigerators that
are $18 ,000. I know. I mean, it's just... I
know. I've been shopping them for my own home.
Or I was, you know, when I was shopping them
for my own home, I was like, gosh, I know what
these cost. I sell them. I see them. I share
them with people. I help people choose them for
their home. But when it's your dollar, you're
like, well... It really is a... When you add
that... Well, that's a lot. Yeah. I haven't had
a home that sold for north of $2 million that
didn't have at least $30 ,000 worth of appliances
in it. Because where do you stop? we should probably
have an ice maker, an under counter ice maker
that's plumbed in and we should probably have
fridge columns and we should probably make them
panel ready and do the cabinet panels. And the
nicer you make those fridge columns now this
has to match and now that has to go and this
has you know you kind of do you want to keep
the same brand and then you're right that's right
and before you know it you've spent forty to
fifty thousand. The most I've ever spent was
seventy thousand on an appliance package for
a three million dollar home. But that home warranted
it. It did, 100%. It had to. It did, 100%. And
the end -of -day buyer actually noted the high
-end appliance package that tipped him over from
buying a home. And it was good. It was really
great. So if I shared it over time, it was a
fun one. It was a good package. But he cited
that, that the home he was shopping us against
was a resale. So we had a point there. We were
in guard gated. This one wasn't. We were custom
in new construction. Obviously that one wasn't.
And then the fourth point was the appliance package.
And he was an amateur chef, a retired guy that
had taken an interest in culinary arts after
his retirement. That's perfect then. Obviously
he didn't need to do it for the money. Right.
Yeah, exactly. He had it. So those are them.
All right. Well, thanks. You're welcome. You're
breaking that down for us. It's just interesting.
You know what is in the home when you walk through
it at the end of the day or if you go see a model,
but you sometimes don't think about the cost
that's associated with each of them, how it lays
out and maybe it's more or less. And so thanks
for pointing those out for us. Appreciate it.
Learned some good stuff. Yes. Thank you for joining
us and we will see you again next time on another
episode of Trust the Process podcast. Bye -bye.
Thanks for tuning into the Press the Process
podcast. Make sure to follow us on Spotify to
stay in the loop with the latest insights, project
updates, and everything in between. See you next
time.