Dream Lands Design
  • Home Improvement
    • DIY
    • Remodeling
    • Woodworking
    • Accessories
    • Home Design
      • Furniture
      • Organize
      • Tips
      • Decor
        • Interior
        • Exterior
  • Design Ideas
    • Bathroom
    • Bedroom
    • Dining Room
    • Living Room
    • Kitchen
  • Gardening
    • Backyard
    • Front Yard
    • Landscaping
  • Home Improvement
    • DIY
    • Remodeling
    • Woodworking
    • Accessories
    • Home Design
      • Furniture
      • Organize
      • Tips
      • Decor
        • Interior
        • Exterior
  • Design Ideas
    • Bathroom
    • Bedroom
    • Dining Room
    • Living Room
    • Kitchen
  • Gardening
    • Backyard
    • Front Yard
    • Landscaping

Categories

  • Accessories
  • Backyard
  • Bathroom
  • Beauty
  • Bedroom
  • Cars
  • Decor
  • Design Ideas
  • Dining Room
  • DIY
  • Entertaining
  • Exterior
  • Finance
  • Front Yard
  • Furniture
  • Gardening
  • Green Living
  • Home Design
  • Home Improvement
  • Interior
  • Kitchen
  • Landscaping
  • Lifestyle
  • Living
  • Living Room
  • Organize
  • Photography
  • Real Estate
  • Remodeling
  • Tips
  • Uncategorized
  • Wall Improvement
  • Woodworking

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • Privacy Policy
  • Terms of Use
  • Disclosure
  • Sitemap
  • Contact Us
29K
98K
0
Dream Lands Design
  • Home Improvement
    • DIY
    • Remodeling
    • Woodworking
    • Accessories
    • Home Design
      • Furniture
      • Organize
      • Tips
      • Decor
        • Interior
        • Exterior
  • Design Ideas
    • Bathroom
    • Bedroom
    • Dining Room
    • Living Room
    • Kitchen
  • Gardening
    • Backyard
    • Front Yard
    • Landscaping
featured image - The Best 5 Tips on Buying Land to Build a House
You're here: Home Home Improvement The Best 5 Tips on Buying Land to Build a House

The Best 5 Tips on Buying Land to Build a House

  • Perla Irish
  • July 11, 2022
Total
0
Shares
0
0
0
0
0
Table of Contents Hide
  1. Determine How Much Land You Need
  2. You Might Need to Pay for the Parcel of Land in Cash
  3. Hire a Real Estate Agent Before Making an Offer
  4. Research the Value of the Homes in Your Desired Neighborhood
  5. Learn the Potential Drawbacks of the Land
  6. Final Thoughts

Buying land to build a house is an exciting endeavor. You’ll be finally able to construct the home of your dreams and design it exactly how you want.

image - The Best 5 Tips on Buying Land to Build a House
The Best 5 Tips on Buying Land to Build a House

However, the process isn’t as simple as you might think. The raw land you choose needs to meet certain specifications. After all, it would be the base for the entire building process.

Whether you’re looking for a remote location with scenic views or after a lot right in the center of the city bustle, there are several essential things to consider. In today’s read, we’re sharing the top five tips you should have in mind when shopping for land.

Determine How Much Land You Need

When buying land to build a house within the city, it’s most likely that you will encounter some restrictions regarding the type and size of house you can build.

Be sure to check whether the parcel you’re eyeing will be suitable for building your desired home. It’s best to contact the local zoning office or HOA.

Moreover, before buying an oversized lot, consider whether you’ll have the time and resources to maintain it. Keep in mind that you’ll have to mow and water the grass regularly and maintain the landscape. This can be time consuming and might even require special machinery.

You Might Need to Pay for the Parcel of Land in Cash

Before starting to look for lots for sale, you should know that mortgage lenders are more reluctant to loan money for undeveloped land than for an existing house.

The reason behind this is that there are many unknown issues regarding vacant land. Therefore, be prepared that you might need to pay for the property in cash.

On the plus side, if you pay for the land outright, you could get a construction loan to build your house as the lender would consider your land ownership a down payment.


Read Also:

  • Planning to Buy a Commercial Space? Here are Some Points You Need to Keep in Mind
  • Most Important Considerations When Buying Land to Build Your Custom Home
  • How to Make Your Land More Appealing to Investors

Hire a Real Estate Agent Before Making an Offer

You can certainly look for the right location and property on your own. Search the online land listings, drive around, or check land auctions. However, hire a real estate agent before making an offer on the piece of land. Working with a real estate professional will give you particular security.

For instance, you might find the plot of land you’ve been looking for so long, and you’re ready to purchase it. However, instead of bidding on it, call a real agent to ask them about the tract of land.

They would inform you about all the essential details, such as whether it’s located in a flood zone, the type of building restrictions in place, and whether there’s a utility connection in the area. Moreover, the agent could write up an offer that allows you to back out in case you’re not permitted to build a house or secure a construction loan.

Research the Value of the Homes in Your Desired Neighborhood

Did you know that the value of the house you’re going to build could suffer if the homes in its surrounding are of lesser value? This is because the house you own will have similar or lesser value than the houses in the neighborhood.

So, if your home’s construction project costs $300,000 to build but the average value of the nearby homes is $150,000, you might find it hard to sell your house for its actual worth.

But, on the other hand, if the actual construction cost for the house is $300,000 and surrounding houses are valued at $800,000, you’ll likely be able to sell it for a better price and make a profit.

Learn the Potential Drawbacks of the Land

image - Learn the Potential Drawbacks of the Land

Learning all about the potential drawbacks of the desired land is crucial. Finding the perfect plot won’t mean much to you if the zoning prohibits you from obtaining a building permit or constructing a driveway that connects you to the road.

Hiring a real estate agent could help you in the process but make sure to do your due diligence too. Find out as much information about zoning restrictions and local building regulations as possible before investing.

Final Thoughts

Investing in a real estate property is a big step. However, by carefully considering and utilizing the tips we’ve outlined here, you can make the best possible land purchase and start building your custom house confidently.

In the end, buying land to build a house will turn out to be the most challenging but at the same time most gratifying experience of your life.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Share 0
Related Topics
  • build
  • house
  • land

Subscribe

Subscribe now to our newsletter

You May Also Like
Featured image - How to Create Memory Galleries
View Post

How to Create Memory Galleries

  • January 25, 2023
featured image - Leaky Roof? Everything You Should Know About Roof Repairs
View Post

Leaky Roof? Everything You Should Know About Roof Repairs

  • January 25, 2023
featured image - Yes, You Need to Seal Your Pavers. Here's Why!
View Post

Yes, You Need to Seal Your Pavers. Here’s Why!

  • January 24, 2023
featured image - Custom Fabrication Benefits You Can't Ignore
View Post

Custom Fabrication: Benefits You Can’t Ignore

  • January 24, 2023
featured image - Vinyl Flooring Installation Near Me Choosing a Flooring Contractor
View Post

Vinyl Flooring Installation Near Me: Choosing a Flooring Contractor

  • January 23, 2023
Featured image - Fuels of the Future: Is Biofuel Renewable?
View Post

Fuels of the Future: Is Biofuel Renewable?

  • January 23, 2023
Featured image - 5 Key Questions to Ask a Mold Removal Company Before Hiring Them
View Post

5 Key Questions to Ask a Mold Removal Company Before Hiring Them

  • January 23, 2023
Featured image - Rubbish Removal Near Me: How to Choose the Right Junk Removal Firm
View Post

Rubbish Removal Near Me: How to Choose the Right Junk Removal Firm

  • January 23, 2023
Dream Lands Design
  • Privacy Policy
  • Terms of Use
  • Disclosure
  • Sitemap
  • Contact Us

Input your search keywords and press Enter.

Add Dream Lands Design to your Homescreen!

Add