It’s the American Dream: owning a piece of land and building a home. At
House-plan.org we facilitate part of that dream - the house plan part. We would also like to provide you with the information you need to confidently purchase a piece of land on which to build your house.
Typically there are three types of lots you can purchase: a lot in a new subdivision, a lot in an existing residential neighborhood (called an infill lot), or a stand alone lot, most often found in a rural area.
There are many advantages and some disadvantages associated with each type of lot, depending on what you ultimately want from the home you’re building. Only you can decide your needs. Some pros and cons to consider for each:
In a new Subdivision lot, lot lines are clearly marked and electrical and sewer work may already be done. However, you may not be able to choose your builder and there may be a limited house plan selection.
In an Infill lot, you're more likely able to choose your builder and house plan. Some cities even offer incentives to build on infill lots in order to offset urban and suburban sprawl. The downside could be that the neighborhood may not be new and strict zoning and lot restrictions may exist.
In a Stand Alone lot, you're able to choose your own builder with a wide variety of house plans available to you. But because of its possible rural location, a stand alone lot may not be hooked up to city sewer and water lines.
Be aware! There can also be hidden fees and restrictions connected to your lot, costing you even more if you're not well informed. Talk to your Real Estate agent about property taxes, impact fees and CCRs before buying your lot.
It’s also a good idea to do a Title Search and get Title Insurance on the property, even if you’re paying cash. You'll want to ensure that the land you're purchasing is free of liens, lawsuits, and
judgments.
LOCATION, LOCATION, LOCATION
It’s time to think about how you’re going to use the lot you're purchasing and whether or not it fits your particular needs. There will be different lot requirements for a family with children than there will be for a retired couple. The same holds true for a lot for a vacation home and one for a full-time residence.
Here's a sample list of key things to consider when evaluating a lot to purchase. How they affect you, your lot, and its ultimate purchase will depend on your specific needs:
1) If you plan to commute from the house you’re building, drive from the lot to your place of work a few days a week at your regular commute time to ensure it’s something you can live with.
2) Visit the lot at different times of the day and different days of the week to check traffic patterns, usage, and general noise. If you enjoy sleeping late on Sunday mornings, check that there are no noisy, regularly-scheduled events in close proximity. Even if you think it won’t bother you now, what about a year from now?
3) If you have the luxury of time, visit the lot during different seasons. A lot that is lovely in Summer may be inaccessible during Winter. A dry lot in Autumn may pool water in Spring with run-off rainwater.
If you’re going to be spending many years living on this piece of land, you’ll want to be sure it’s what you want year-round.
EXPERT EYES
If you’ve already selected a builder have him/her inspect the lot for you. Or, if you haven’t picked a builder, this may be a good opportunity to interview one. It's critical to hear what they think of the land and how “buildable” it is. An experienced eye can spot trouble.
That charming creek down at the bottom of the lot? It’s a drainage issue. The idyllic and serene rural location? Possible issues with water, sewer and road connections.
Employ experts - they're there to ensure you find, buy, and build your piece of the American Dream.
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