If you’re making plans to build a new home in the near future, you probably have a lot of questions that need answering concerning costs. What a lot of people don’t realize is there is a lot of costs savings that can be made long before their home is ever built simply by shopping around and choosing a quality lot. When you’re designing your dream home in your head, you’re probably trying to choose between brick and stone, hardwood and tile, and whether or not to finish the bonus. Tree removal and extensive dirtwork probably aren’t the things that keep you lying awake in bed at night, filled with excitement. Those things, however, can add up quickly and cut deep into your budget before you ever get started if you’re not careful. Here are some tips on lots:
- Shop around. Don’t settle for the first lot you come too (unless it’s in the only subdivision you have any interest in being in). Even then, try to negotiate. Depending on how long a lot has been on the market, the individual may be willing to work out a better deal. If not, it was still worth the try. Look for steals. There has been some good improvement in the last few years economically, causing property prices to rise again, but there are still some bargains out there that you can’t pass up!
- Consider restrictions. What are the setback requirements on the lot? If you are looking to build a bigger home on a smaller (or odd shaped) lot, there may be an issue with actually fitting the home on the property without overstepping setbacks. Take that into consideration. Also, be aware of any easements. For instance, a piece of property located next to a main highway may have 50’ or more of easement to allot for future road expansion. Utility easements are another factor to be knowledgeable of. Finally, consult the local environmental department about ordering a “Perk Test” for the property before you purchase it if you’re in an area that is going to require a septic system. The conditions of the soil can greatly influence what type of system must go on the lot when a home is built. That, too, can be a major item in the construction budget.
- Review the physical features of the lot. How much work is going to have to go into the property to get it ready for home construction? Is it heavily wooded? Is it exceptionally low? Are there any major ditches or runoffs surrounding the lot? The amount of dirt that will have to be moved and the amount of timber that will have to be hauled off can be major contributors to cost.
We want everyone to be able to build the home they want. Property prices can greatly influence that before home building ever begins. Hopefully, this will help you on your search for the perfect lot! If you have any questions or concerns, don’t hesitate to contact us at email@example.com! We look forward to hearing from you!