Buying land inches you a step closer to owning your dream custom built home. The possibility of purchasing a plot of land and erecting a home makes most people happy as a clam on high tide. However, there are a number of things that you’ve to consider prior to breaking ground lest you end up regretting.
Zoning Restrictions
Don’t pay a dime before finding out if the plot of land you plan to buy is buildable. Buying land only to later find out that you can’t build your custom built home due to zoning restrictions is a nightmare you can avoid! Topography is yet another concern as it can stand in the way of you being the proud owner of a new home. A sure fire way to navigate these issues is consulting a seasoned local contractor who has already learned the ropes.
Financing
A construction loan will come in handy for most land buyers in today’s harsh economy. If this sounds like you, it would be for your own good to book an appointment with an experienced construction loan lender. A loan lender will take you through the financing options available and offer a loan pre-approval depending on your financial situation. Keep in mind that you might be required to make a down payment based on the total cost of your project.
Consult A Land Planner
Telling whether a parcel of land is ripe for erecting your custom built home can be tricky – especially if you have never done it before. However, seeking help from a land planner makes this easy. A land planner is a professional able to pinpoint any impediments (wetlands, vegetation, soil type, slope, water table, etc.) that could prevent you from going ahead with the construction.
Research
Schools, public transport, shopping, proximity to home/work, recreational areas – these are some of the things that you need to think about before laying the foundation for your custom built home. Anything that revolves around your day-to-day life is worth considering. Listing down such desires goes a long way in helping you narrow down to a specific area that is able to match your lifestyle.
Land And Estate Agents
Making your interests known to land and estate agents located in an area of interest is an approach that has passed the test of time. As you probably know, there’s likely to be cutthroat competition for any perfect plot of land. The help of agents becomes invaluable as you will learn about new lots early.
Planning to buy land? These tips will help you put the best foot forward!