In this video, we’re going to discuss the Top 5 things you want to take into consideration to make that build on your lot process go as smoothly as possible. When you think about purchasing real estate, most think about resale or new construction, property that’s already within the subdivision.
Well, this video is for those who have the goal of purchasing land with the hopes of building a custom homeowner in the future.
One of my first recommendations to you guys before beginning the process is having a plan. What’s your timeframe, What is your budget, What is your overall use of the land, and any additional amenities needed to accomplish those goals.
The second thing I want to focus on is the cost. I’m not talking about the price that you pay for the land, I’m talking about the cost that it would take to get that land home build ready. Land comes in two forms, improve and unimproved, and some of the improvements you want to look for is access to water, access to sewerage lines, electricity, and even roads. Having those things already in place and save you tens of thousands of dollars in the process.
Number three, surveys. And a few reasons why you want to get your own survey is, you’ll know of any an easement is on your property, you’ll know the boundaries of your property, and just like we discuss some parts too you’ll know if there’s any Improvement that’s already on the land.
Number four, property taxes. You want to make sure that you factor in your overall annual Property Tax Bill including the projected value of your land with your custom home on it. I know that’s a lot but this will help ease any type of surprise tax bills that you get on down the line.
Number 5, Deed Restrictions. This is probably the most important thing on the list. Regardless of what type of plan you said beforehand, a deed restriction will ultimately let you know what you can and cannot do with the property.
So, there you have it. Those are my Top 5 things to take into consideration when looking to build on your own land.
I hope you learned something feel free to reach out if you have any questions and as always, I’m never too busy to assist. Thanks!