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21 OCT

How to Buy Land And Build A House

How to Buy Land And Build A House

There are many people who dream of building their own home, the joy of designing and building something that is the house of dreams can be exhilarating. You can plan every last detail from the floorplan, colors, materials, fixtures and fittings and everything in between. However, as exciting as this prospect seems there is the task of finding suitable land and handling the whole process.

Finding land can be exhausting! Although there are websites you can peruse its not as easy as looking in your local real estate window, and just like finding the perfect home you will want to find the perfect land that meets your requirements. Is it big enough for the house you want, is it the perfect location, does it meet your budget? So many questions, but then you will come across the same questions when buying a house that is already built.

Ask around for the best opportunities, reach out to brokers, find a real estate agent who specializes in land sales. Expired listings are also a great opportunity, many people buy land with the idea of building but for one reason or another don’t complete their dream. Look for those that have expired repeatedly as this gives you a great chance of grabbing a good deal.

Narrow down your search area, once you have an idea of where you want to live you can scope out any vacant land in and around that area, this may be time consuming but could also be a good way to get a great deal.

Once you have decided on land don’t get too carried away. Remember you still need to build your house, so the price of land must be right. Look at the houses in the area and decide if your home would fit the landscape and be aware of the price of the home and the value of the land are appropriate to each other. For example, if you are expecting a $300,000 construction you don’t want to be paying over the odds for the plot.

A few other important things to consider include

  • Are there utility hook ups? Water, power, sewage, and even cell phone/internet service are a necessity, if these are already hooked up then great but if not consider the time and costs of getting them sorted.
  • How is the land zoned? Be sure to check zoning carefully as this can be a big factor as to what you can and can’t build. The last thing you need is to realize the land is only fit for agriculture or industrial.
  • Land preparation. How much work needs to be done before you can build? Clearing and preparing land can be a significant cost that many don’t consider. Get quotes for the work needed as you might find this doesn’t fit your budget.

Now you have the land you can plan the build! A couple of key aspects here include:

  • Hiring the right professionals. You will need to find a good architect, a contractor, and a builder. Find people you have good rapport with and people that will listen to your wants and needs after all this is your dream and your build. Seek references, check licenses, and interview everyone to make sure you’ll work well together.
  • Get all your permits in place. You builder and contractor will help you with the build permit including permits for electricity and plumbing. These guys can also give you an estimate of the costs of permits as each depends on varying factors such as the size of the home and specific costs relating to different municipalities.

The process of building a home can be quite extensive, be patient with your build, these things take time and unfortunately quite a lot of money. Dreams do come true, but they also come with blood, sweat, and tears along the way. You will get there in the end, but it won’t happen overnight.

Posted in Uncategorized on October 21, 2021 at 4:35 am.


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