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Buying Land: The First Step for the New Home Builder

February 01, 2012 | Comments: 0 | Views: 106

We may be living in a free world, where we are largely able to do as we please, but when it comes to building that new home of our dreams, we cannot put it just anywhere. You need a good, solid plot of land to stand as the foundation for your future, and that is going to cost you. In this economy, it is hard to get financing for building a new home unless you already have your land secured and paid for, so for the new home builder, getting that land should be the first step in the long yet worthwhile process of creating your dream home.

First, it is important to understand that not all land is created equal. Two identical plots of flat, lush greenery may differ greatly once you look under the turf. Loose rocks, sand deposits, and other irregularities in the soil consistency can cause headaches for the new home builder, sending your plans for that dream home tumbling down as quickly as the actual house would if it were built on such unsuitable land. Research is your most important tool when purchasing land for your new home, so leave no stone unturned. Literally.

Next, understand that not all land is zoned equally either. While researching your prospective plots, make sure you see if the parcel of land is even legal to build on. It is funny to think about, but there are some tracts of land that a new home builder cannot do anything to. These might be protected habitats for endangered species, for example, or lands with shared ownership that cannot be improved upon. Even when looking at plots that are buildable, be sure that your prospective piece of land is residentially zoned, and that the surrounding land is similarly zoned. Not only does this keep you from having to halt construction once the city finds out what you are up to, but it also stops commercial and industrial building near your new home.

Once those big concerns are out of the way, it is time for the new home builder to start looking at the important yet often overlooked minutia of that seemingly ideal piece of land. Is there a sewer system nearby, or will you need to install a septic tank? Is there public road access, or are you expected to levitate your vehicle to your new home? Are there fun and interesting smells nearby, such as those caused by a local farm or a high skunk population, which might impact your living experience? This list is not exhaustive, but it is a place to start. You can never ask too many questions when purchasing land.

This piece of land, wherever it happens to be, may be the place you spend the rest of your life. When making such a long-term investment decision, it is important to research thoroughly before you decide to take the plunge. No new home builder can build without land, but no home builder should purchase land without information. Spend a day or two, at the very least, researching the details of your chosen parcel of land with a real estate researcher or other qualified professional before you make an offer.

Go over your new home design with your builder to make sure everything works within the property dimensions. With a decision this big, time is the cheapest thing you can afford to spend on making sure your investment is worth it.

Source: EzineArticles
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