Homebuyers who are looking to buy land for a new build will need to do some extensive research and work before they can lay the foundation for their next stage of life. Selecting land for your home comes with its own set of challenges and there may be some pitfalls that could trip you up if you are not prepared. Cole Val Construction wants to help build your custom home on the best piece of land in the area. Below is a guide to aid all potential home builders in selecting land for your home.
You Will Still Need A Realtor
A real estate agent knows the fine details of purchasing land or a prebuilt home. Working with an agent will help aid you in selecting land for your home because they have extensive experience negotiating deals, dealing with paperwork, and closing a deal for their clients.
While working with a trusted agent can be helpful, make sure to do some of your own research about what buying the land will entail. Research and questions are always good when it comes to purchasing a large investment like a home. You want to love the land that your home is built on while limiting the amount of headache it will bring later.
Know The Value Of Surrounding Homes
Working with Cole Val Construction to build a custom home means that it may look different than older construction. Knowing the value of other homes around you will help you build your home with similar taste. Surrounding properties will affect the resale value of your home and could affect the price of the vacant land. Some neighborhoods try to limit growth and will tack on fees for those buying land. If you have found a place you truly love and want to build, know how your build will affect the surrounding area and how it will impact you.
Take Into Account Utilities And Road Access
Modern luxuries like running water, electricity, and sewers are often taken for granted. When selecting land for your home these elements should not be overlooked. Underdeveloped areas may not have utilities in the area you are looking to build. Other areas like subdivisions and other sparsely populated areas will need road access, which may end up being an extra cost for you as the buyer.
A Loan Won’t Be As Readily Available
Leveraging with a bank is not available when selecting land for your home. Many buyers pay for their land with cash or get a construction loan on the building they plan to put on the land. The building will be seen as collateral for the loan and will help you finance the whole process.
Another alternative option for selecting land for your home is to work with the U.S. Department of Agriculture. They offer rural housing loans for those who are considered moderate-to-low-income. You can check if you meet their requirements on their website.
Each area that allows building will have zones, codes, and ordinances that you will need to follow. This may limit what can be built on certain pieces of land or require you to jump through some hoops while you build. Some of these restrictions could be limiting you to only allowing a construction company to build your home (no DIY), no mobile homes or tiny homes on the land, and restrictions on pets or animals that can live on the property.
Before you even think about building, you need to check zoning laws and not assume the land can be rezoned. Instead of trying to rezone and make the requirements fit your needs, try to keep your build within the restrictions. If you are applying for special permits or other variances, leave enough processing time before you schedule any building teams.
Building With Cole Val Construction
Hiring our team brings a beautiful home with great customer service along the way. Each of our builders knows the construction industry which makes building custom homes our passion. Whether you are wanting to build a new home or remodel your current one, our team is here for you. Homes in Utah deserve to stand out among the crowd. Design an aesthetic and classic home with Cole Val.