Buying land to build a home is an exciting process, but it can also be overwhelming if you don’t know what to look for. It’s important to keep a few key things in mind when buying land to ensure that you end up with a property that meets your needs and fits your budget. Here are some things that potential homebuyers should do when looking to purchase land for a home:
Determine your budget and financing options
Before you start looking at land, it’s crucial to determine your budget and financing options. This budget will help narrow your search and ensure you don’t overspend. You may want to consider talking to a lender or financial advisor to help you determine how much you can afford.
Check the zoning and regulations
Every city and county has its own laws and regulations that dictate what you can and can’t do with your land. Make sure you check these regulations before you make an offer on a piece of land. You don’t want to end up with a property you can’t build on or a property with restrictions that will limit your ability to use the land the way you want.
Hire a surveyor
Before you purchase a piece of land, it’s important to have it surveyed. A surveyor can tell you the exact boundaries of the property and any potential issues, such as easements, wetlands, or zoning restrictions.
Research the neighborhood
Take the time to research the neighborhood where the land is located. Look at crime rates, schools, and property values to help you better determine whether the area is a good fit for you and your family.
Get a soil test
The soil on your land can affect the cost of building your home. Get a soil test to determine if the land is suitable for a septic system, which can be a major expense. This testing will also give you a better idea of the foundation you’d need for your home.
Consider the topography
The topography of the land can also affect the cost of building your home. If the land is steep or has a lot of trees, it may cost more to build. Make sure you consider these factors when looking at properties.
Think about utilities
Make sure you think about utilities when looking at land. You’ll need to have access to things like electricity, water, and sewage. For example, you may need a well and septic system installed if the land is in a rural area.
Consult with your builder
Our team at LaFollette Custom Homes has had instances in which potential clients have come to us after purchasing property, only to discover that the cost of improvements to make building possible would be outside of their budget. These expenses could include the cost of building a driveway across the property, the easements on the property reducing the buildable area, and the concealment of creeks by wooded areas on the property that prohibit building, to name a few. These examples are just a few reasons why our team always recommends consulting with your builder before purchasing land.
Finally, don’t rush into buying land. Take your time and ensure you’re getting the right property for your needs. Do your due diligence and make sure you’re making a smart investment!
Buying land for a home can be a wise investment, but it’s critical to keep these things in mind to ensure that you have a property that meets your needs and fits your budget. With the proper preparation and research, you can find the perfect piece of land to build your dream home.
After you’ve purchased your land, make LaFollette Custom Homes your partner to begin the custom home-building process! Give us a call at 979-589-8343 or contact us at Info@LFCustomHomes.com for a consultation.