Buying Land to Build a House: The Ultimate Guide
Where to Find Land for Sale
An attorney and real estate agent named Bruce Ailion recommends looking past the active listings and searching for the expired and withdrawn ones. Many people will actually purchase the lot or land and change their mind because they have a harder time selling it than they thought. Eventually their listing expires and they give up. Ultimately, they are desperate and will let it sit until someone contacts them about purchasing.
What Questions to Ask When Purchasing Land
How is the land zoned?
Does it Come With Utility?
The land may come with the utilities you need such as natural gas, electricity, water, sewer and others. You will have to check to make sure. For instance, if there is no sewer available, you will have to ask if the land will provide a septic tank for you.
How Much Extra Preparation Is Needed for The Land?
Grading and clearing land can be really expensive. According to homeadvisor, it can range between $1,250 to $4,200 that homeowners spend on clearing the land in preparation to build a home. Expenses vary based on how much wood is in the area along with the location. Typically grading can cost in the range of $.047 and $2.28 per square feet and also will depend on the amount of work needed. There might be existing structures needed to be destroyed or removed. You need to find out what the estimates for debris removal is as well. Knowing all of the prep work will factor into the timeline and building sequence of your home.
How Much Time Is Needed?
Another crucial step is finding out how much time you have. Roudybush notes that building your own custom home that has to be tailor-made for your home site takes much longer than buying a house for sale. The entire process takes two years or more she says. This process can be long and arduous. It entails finishing the permitting process, doing surveys, figuring out the utilities in the property, acquiring bids, landing the necessary construction financing and then having the actual house built on top.