Highest and Best Use

Many of the construction projects I work on require the acquisition of private property.  Most of the time the property owner is a willing seller as the government pays equal to or just above the appraised value of the property. 

To determine the value of the property, a professional appraiser is hired to assess the value of the property not only in its current condition, but also on its “highest and best use”.  For instance, if you have an old house at the corner of a major intersection then the highest and best use could be a Starbucks (unless there’s already one located on the other 3 corners).

The value of the property isn’t necessarily based on what’s there, but it’s based on what could be.

If you were to look at the time and energy you’re spending on your daily tasks, would you say they are highest and best use of your time?  If not, then you should consider a game plan to “redevelop” your calendar into providing you a better return on your time investment.

 Questions to ponder:

  1. Can someone else do this task?
  2. Does this need to be done now?  At all?
  3. Is there a better way of doing this that will save time/money?

On a personal note, does sitting in front of the television, surfing the internet or spending hours on social media bring any tangible value to your life?

It’s time to reinvest in yourself and become a person who is focused and passionate about becoming the best you can be.  I’m a work in progress and have a long way to go.  But I’d rather work on increasing my value lest I be condemned and taken over for someone else’s benefit.

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One comment on “Highest and Best Use
  1. Laura Kroeger says:

    Good post, as usual right on target.

    I’m not sure I have a highest and best use, but I will keep seeking to find it.

    Laura

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