For many, the idea of buying a move-in ready home isn't ideal. Instead, these individuals would prefer to buy their own land and build their house to their own liking. While it is common knowledge that purchasing land to build a house is more economical than buying a ready-made home, picking out the land to build your home on is not as simple as it sounds.
People often make mistakes while buying land, such as purchasing land with slopes or buying grounds in flooded areas. So how do you choose an excellent foundation to build your house on? This article offers a comprehensive guide on how to purchase land to build a house.
How to Find the Land
Before you even start saving for the land, you should know the type of property you would like to live in. People with different necessities will have other preferences regarding the place they want to live in. If you already know what type of house you would like to build, then finding the land should be a bit easier. Remember, buying the land to build your home comes with different methods, such as purchasing land to develop rentals or the brrrr method of real estate.
If not, then think about your needs and figure out what kind of property will satisfy them.
- Think about how many bedrooms you need, and then figure out what size of the land is sufficient to build your dream house on.
- You will also have to decide whether you want a plot in the city or outside. Outskirts are more peaceful and usually less expensive than living in a crowded city. Unfortunately, it also means that you will have to drive longer distances for work.
- If you want to save money, then it is good to figure out the land size that will make your house look like an average-sized home in the area. This way, you can buy more land and have enough space for future expansion or extra rooms and outdoor space.
What to Look For
If you're purchasing land, you will want to be careful about what exactly you are working with as not all land is good land to bauild a house on. Let's take a look at how to buy land to build a house and what to look for when buying land.
Read the Listings Carefully
Always be cautious when you read listings. Sometimes, there are mistakes you may not notice at first glance. You might end up buying something that you don't want. It is always better to make sure that you are clear about what you are buying than getting something and then regretting later.
Get Your Friends to Look Too
Get your friends and family members to look for pieces of land that you can buy as well. You might not find something in the first few places that you look, but once you ask others too, your chances of finding it increase. If they know what you are looking for, they can tell you where to find it.
Keep an Eye on Land for Sale Ads
Sometimes, newspapers will display ads of pieces of land being sold by people in your area. These are often good deals for most people because they are being sold by people who have lived there and know the land well. The internet is also a great way to find land for sale, as well as easily get in touch with sellers directly.
Check for Property Tax Records
It's always a good idea to check if the area where you want to build your house is currently being taxed. If the plot has been for sale for a long time, it could possibly be because it's not taxable anymore. If you find that the land has been on sale for some time but hasn't sold, there might be something wrong with the property tax records. Take a look into the records to get a better understanding.
Factor in Legal and Financial Costs
You will have to take care of all the legal and financial issues before you buy land. You will have to check with your lawyer first whether the property taxes are being paid regularly. If not, you can lose a big chunk of money if there isn't any turnover in the county or city. Make sure you also understand the cost of building a house and not just buying.
Look at Records of the Zoning Laws in the Area
Your house should be built in a place where there aren't any zoning laws that go against what you are building. You will have to keep an eye on the records of the zones in your city or county to make sure that you are buying land that doesn't fall under a category where the zoning laws apply.
Get Rid of Possession Issues First
Getting rid of possession issues is vital for you if you're purchasing land from farmers, ranchers, or loggers. In such cases, there might be isolated trees or brush on the land that will make it difficult for you to build a house. Make sure that these things are taken care of before buying the property.
Be Aware of Environmental Issues
It's also essential that you are aware of environmental issues when you buy land. If there is an old dump or mine nearby, purchasing the land might have negative impacts on your health. Depending on the land, you might have to do a lot of cleaning before starting construction.
How Much Does a Good Land Cost?
The prices of land vary with many things. The area where you live has a lot to do with how much the land will cost. So do the zoning laws and environmental concerns. You should also see whether or not there are taxes on the property and whether any dealing with possession issues is needed before buying it.
An average cost of an acre of land should be around $3,100. This is a good amount of money to invest if you purchase land for building your dream home. You should also factor in the cost of clearing the land before construction if it has not already been cleared. Make sure you also consider all the fees involved with buying or selling property before you proceed.
Dealing with Property Legal Issues
There are many other legal things that you will have to do before buying land to build a house. You will need a surveyor to help you get an understanding of the size of the land. You will have to talk to the experts and ensure that all the legal issues are sorted out before buying a piece of land in your area.
Another significant thing you should do before starting the construction of your home is to get building permits from the government where you want to build your house. This is a vital thing to do because, without building permits, you can't survive any legal issues that come up later on.
Buying land to build a house is always a good idea because you are doing something that will benefit your family for a long time to come. The money you invest in buying land is worth it if you are willing to work hard to transform it into something great. There are many factors to consider when looking for the right piece of land, so make sure you keep these things in mind as you find one.
If you need help purchasing that parcel of land you've desired for years, our team at SimpleShowing can help you navigate the tricky waters of buying land. We'll help you with all aspects of the purchase - from finding exactly what you need to negotiate the best price for your property. You can also save along the way through our buyer refund incentive. Give us a call today and let our experts be at your service.