Last week we went thru a charrette process with our architects. We love the initial concepts! It’s going to be an amazing campus in an amazing location. Can’t wait to get it built. And it’s a great time to build from a financial standpoint. The price point per square foot is pretty good right now and so are mortgage rates. But one thing we’ve realized during this process is this: our vision is bigger than our budget. And as long as we exercise financial responsibility, that’s healthy and holy. Your vision shouldn’t be determined by your budget. Your budget should be determined by your vision.

One of the big decisions we have to make is whether to build out the entire dream in one phase or consider multiple phases. I’d love to get some input from those who have gone through the process.

What are the advantages and disadvantages of building in phases?