How to Buy Land for Building Your Custom Home
Introduction Few things are as satisfying as having the opportunity to choose the location where you will live permanently and upon which you will build your dream house. In this presentation, we will detail some factors you need to keep in mind prior to purchasing land for your future home.
Services When deciding on a site, you should ensure that the area in which it is located present all the necessary services to satisfy the lifestyle you plan on leading. Financial constraints may limit your options, but you should feel happy and comfortable in the location you choose to build your house in... That's the non negotiable criterion.
Services Some of the services that should be available include: •
Child care service facilities
Malls or shopping outlets
Supermarkets or grocery stores
Medical facilities & hospitals
Parks & recreational facilities
Places of worship
Regulations Next, if the first constraints were met, you want to ask about any zoning regulations that apply to your chosen area. â€˘ You should learn if it is possible to construct the type of house you plan on building before taking your final decision â€˘ You should find out if there are future plans for significant changes in the neighborhood that could possibly affect the value of your property later on
Evaluation: Landscape Asses the land carefully concerning trees, rocks or boulders that stand in the way, as it might get very expensive to remove those. Also, the soil should be stable and you should see whether the site is not located in an area that is prone to floods and other disasters.
Evaluation: Water & Telecom Utilities such as water are vital since not all water that can be sourced is potable. There are cases when the rights to a potable source are not part of the land being considered. The only option you have left, then, is to dig your own well... that is if allowable. You should also be aware that bringing in phone, electricity, or cable services to the site if not established early on can cost a lot of money too. So always include those in your evaluation.
Closing the Deal Once you’ve found a property that is within our fixed parameters, here’s what you should do: •
Find out who the seller or agent is and call him/her
Offer a low price but don’t go too low so as not to insult the seller. This will give you more bargaining power, especially if the seller is in a hurry to relinquish ownership of the land
Closing the Deal â€˘
Once you and the seller have come to agree on a price, draft a contract
You may need to hire a third party (either a lawyer or a title insurer) to examine the contract and ensure nothing important has been left out
Conclusion If you follow the tips we have shared with you in this presentation, you should have no problem finding a land to buy for your new home that will both please you and your wallet. In closing, let us just reiterate that you should always doublecheck everything. When it comes to land buying or real estate, one can never be too cautious...
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