Are you thinking of building your dream home but can’t find a layout you like from a track builder? If that’s the case, buying a lot of your own may be more favorable than having to work with a custom builder.
Track builders develop complete subdivisions with a limited selection of models. A custom builder can design a house according to your specs and build it on your own piece of land.
Before you buy that piece of land, however, you should get answers to the following questions. Else, your dream home may become a nightmare. You may even end up with a lot you can’t build on. As you can see, buying a lot entails much more than most people think, use these questions to better understand the process you’ll need to take.
Lot Buying Checklist
- Is the lot suitable for building?
- How soon do you need to build?
- Do you have access to the public right-of-way and a road?
- Are there any zoning or land use restrictions?
- Is there access to gas or do you need propane for heating?
- Can you access public water, or do you need a well?
- Can you access public sewer, or do you need a septic system?
- Where soil tests done?
- How much lot preparation is required (grading, driveways)?
- Will your selected builder build on a custom lot?
- What Are the Deed Restrictions?
This is probably the most important question to ask. Deed restrictions determine what and how you can build on the lot:
- What is the minimum or maximum size of house you can build?
- What roof heights are allowed?
- Can you have outbuildings?
- Is there a Home Owners Association (HOA)?
- Which builder can you use?
- Where does the house need to sit on the lot?
- Which animals are allowed: can you have livestock, chickens, how many horses, etc.?
When you use a custom builder, you may not be able to determine a firm price for the whole project. Usually, you buy the lot first, then get a construction loan for building the house.
Here are some costs you need to consider:
- Lot preparation cost
- Tapping fees to connect to public utilities
- Land survey
- Architectural drawings
- Loan conversion to permanent financing
How to Find the Perfect Lot?
I have helped many clients buy lots and work with a custom builder! Most vacant building lots are listed for sale on the MLS.
Call me first before you make a deposit on a vacant lot. Both, custom builders and landowners work with Realtors at no additional cost to you.
Planning on building on your own lot? Call or text me TODAY at (614) 975-9650!