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| Finding a Place to Build |
We know that a home without land to place it on isn’t goingto do you much good. Finding suitable land is an essential step that you don’thave to take alone! We’re experienced in working with local realtors to findland that suits your wants and needs. Here are some tips to get you started onfinding your dream land for your dream home!
Make a list! Every great plan starts with a list. Firstthings first…location, location, location. Be sure to research the area todetermine if you can see your family living there. You might be moving from thecity to the country for a life change, however positives and negatives shouldbe considered. Some examples include…What is the travel time to and from work?How far is the nearest hospital? How long will it take you to “run to the store”,etc.? If you have a family or will be starting your own in the future, considerthe school district, as well as going to after school events, classes,practices, or even just making new friends.
What are the local regulations and is what you want to buildallowed? There will be setbacks from fence lines that need to be considered forboth town planning and building codes. These may vary, so make sure you areaware of them both. With a simple phone call to the local planning and zoningdepartment, most offices can give you the answer to this question in a matterof minutes.
Some other things to research are services such as power,water, and septic or sewer. How far away is the power supply? Contact the powerdistributor to find out how much it may cost to provide power to the propertyand they will give you a budget estimate. Connection fees have a very widerange, so it’s essential to know what the site requires. Do you have access totown water? Is the water main close or under the road? Does the soil percolate(aka “Perk”) or have access to a nearby sewer system? If a property doesn'thave easy access to the local sewer system, a perc test is required todetermine whether a septic system can be installed on the property. Be sure togive the county health department a call and ask what is required to install aseptic system or connect to the local sewer in your area.
Something else to consider is the slope of property. Whilethe property isn’t likely to be completely flat, there can sometimes be extracosts associated with building on a slope. Extra site work could be required,as well as design elements. Although this will add interest and character toyour new home, accounting for extra expenses will be required when working witha sloped site.
Back to your list…start to write down your dream piece ofland. Take other factors into consideration. How much land? 1 acre or more? Doyou have animals? Is a pasture a must-have? Do you want a big backyard orwoods? A garden? A playground or pool? How big do you want your garage anddriveway?
The hardest part of your project is to decide what you canafford. Your budget is crucial throughout every step of building your dreamhome! It’s important to be realistic on how much you can afford before fallingin love with a property. It’s easy to get lost in beautiful views or theperfect location, but you’ll need to take the time to research other essentialcharacteristics of the property. Each property has its own unique challengesand there will be things that you will discover along the way requiring extracost or consideration. Keep in mind the more areas that require spending on thesite, the bigger the impact will be on the money you have left for the buildingof your home! The best way to avoid expensive surprises is to know what to lookfor and asking, “What extra costs could be associated with this property?”
How you intend on paying for your project is huge whenbuilding a home. Many people purchase land and slowly pay it off beforestarting the project. Others live in an RV on the land while they pay it off.Some save up and pay cash outright for their land. However, did you know thatland loans, home and construction loans can be combined into one? Well we’rehere to tell you, they can! You’ll be happy to know that getting prequalifiedis quick and easy, letting you begin the process right away with this option.Whichever route you choose, figure out what you can afford and try hard to stickto it!
It isn’t about finding land that is 100% perfect, with norisk. It’s about being completely informed,and knowing what the risks are and being okay with them. But just like any home-buyingventure, if you put the time and effort into the project, you will be rewardedfor it! Last thoughts: Make a good investment. Know what you are getting into.Prepare so that there are no surprises along the way. Get exactly what you wantfor your dream home! Happy land-hunting!
