Building Lot Search

building lot searchSearching For a Lot to Build a Home On

By Michael Luckado

In many parts of the country, there just aren't enough homes currently for sale. This shortage leads to pricing and bidding wars for the few good homes that are available. A great way to avoid this potentially costly situation is to find a lot to build on and create the home you want. Here are some tips for avoiding hassles and getting the right piece of land that meets your budget.

Access

It probably goes without saying that you will need access to your new lot by car and foot. What you might not know is that some real estate available for sale doesn't have access. Meaning, these properties are surrounded by other property and they don't front a road or other access point. If you purchase a piece of property with this issue, you will need to get an easement from surrounding property owners to install a driveway and this can get expensive. Make sure any piece of property you are considering has the proper access.

Costs

Every piece of property has reoccurring costs that go along with it. These costs can include real estate taxes, homeowners association dues, insurance, and sewer availability fees. For budget purposes, be sure to investigate all holding costs prior to purchase.

Fees

Typically when you build a new home there are local fees required. These are sometimes called impact fees to cover the extra burden that more residents put on the system. These fees cover expansion and operating costs for water, sewer, schools, roads and emergency services. Because these fees can cost tens of thousands of dollars when building new, be sure to fully understand them for the location of any property you are considering.

Building Codes

Each municipality enforces its own building codes to protect citizens. Because these are local, it's possible for requirements to be drastically different from one community to the next. For example, there are some communities that require fire sprinkler systems to be installed in new homes which can add thousands of dollars to the cost of your home. So, be sure to talk to the local building department prior to purchasing a building lot to find out what codes would increase your costs.

There are some great deals out there for building lots. Just make sure you do your due diligence to prevent hassles and unexpected costs.

Michael Luckado has built, remodeled and repaired thousands of homes over the years. He co-founded ArmchairBuilder.com to help people save money and time on their projects. You can build your own house with a little help. Can I really build my own home? Sure you can so stop by and see us to find out more.

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