Decide on what type of neighborhood you want to live in. It is good to drive around different areas. Take some notes. If you see an empty lot, take note about its location and try to imagine having your home there. If that lot is listed with a realtor, take note of their names and contact numbers.
Landon Homes | Old Sebastian Point |
You might also want to consider the distance of the site to your workplace. If you have children, then you might also want to know how far the school is. Other important places would be the nearest hospitals, clinics, and police stations.
o Find out if the lot is developed or undeveloped. You can expect the developed land to be less expensive in building your home. Developed land already has existing streets, gas, sewer, and electric lines. All you have to do is tap into these services to connect your new home.
A disadvantage is that many of the developed lots may have already been sold and built on, especially if it is a highly popular development. But if you opt to settle at a quiet and rural home building location, then undeveloped land is not a problem as long as you are aware of the additional costs involved. Undeveloped land has no gas, sewer, and electric lines. Developing such land will add to the expense of building your home and should be budgeted into the cost from the beginning of the project.
o Consider the topography of the land. Is it suitable for your building plans? A steep or hilly lot is ideal for a house with a walk-out basement. However, this requires a lot of excavating to make the land suitable for that type of house.
o Learn about the zoning laws and building restrictions. Be sure that the lot where you want to build your home is zoned for residential use. Also, check with the local building commission so that you will know if there are restrictions on the type of home that can be built in that particular area.
o Be ready for additional costs. If you have chosen a lot in a new development, find out if there is a Home Owners' Association and if you are required to join. If so, you would need to know the annual fee. Being a member of the Home Owners' Association can be beneficial. It can provide neighborhood amenities. It can also pay for some of the maintenance fees.
However, the Home Owners' Association may have rules such as how tall your grass is allowed to grow, the maintenance of the exterior of your home, and even the decorations that are acceptable for the holidays.
When looking at the price of a lot, also check on the cost of similar lots. Then, price compare to the lot of your choice. You want your lot as well as your home to be a good investment. If you plan on selling your home in the future, then you want a location/property that is likely to make a good profit.
There are many home building locations to choose from. In the end, it usually comes down to which property suits your budget and meets your lifestyle needs.
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