Choosing the Best Lot

The age-old saying goes something like this: when considering a piece of property to purchase, the three most important things are location, location, and location. While it is still a saying, it holds a lot of truth. Building a home is a huge investment so it is important that you take several things into account to ensure that you are making the wisest purchase possible. We always tell customers, “Even if you are planning on living in your next home for the rest of your life, always consider resale when you build”.

Location is critical but there are other things that you should consider before purchasing the property to build your home.

With all of that being said, let’s take a look at some pointers that will help you to determine if a lot is right for you.

• Property values in the area: This may take a little effort, but it is important to check on the neighboring property values and home values. This could determine if you are spending too much on your house or if you are spending just the right amount. You do not want to build a $300,000 home in a neighborhood with houses valued at $150,000. This will bring down the value of your home. On the contrary, if you build a $150,000 home next to $300,000 houses, then your resale value will go up exponentially.
• Topography (how level or sloped is the lot): If a lot has a steep slope or a very uneven landscape, it could add costs and future problems. The flatter the lot, the less cost to build. Steep lots can have future drainage and erosion problems.
• School system: Absolutely do your homework here. A great school system is not only good for your family, but it is also a great selling point when that time comes.
• Commutes: Keep in mind commutes to work, school, and other places that you may frequently travel to.
• Consider how your house will sit on the property. Keep in mind the rising and setting of the sun and where you would be spending most of your time inside and even outside of the home.
• Neighborhood Covenants: Although covenants are great for protecting the value of your home, be sure to check them out before purchasing. Some may be too restrictive or add substantial cost to building your home.
• Public utilities: Make sure you check on the availability and costs of power, water, and sewer. If your house sits considerably off a main road, the cost for these could be substantial.

With all of these pointers in mind, we suggest that you always take someone that is experienced with you to look at the lot. A second set of eyes could help you to identify issues that you might have missed yourself.

In the end, choosing a lot can be just as exciting as building a custom home. So just be sure you make the best choice up front to ensure that the rest of the process is as enjoyable as you can make it.

What other suggestions would you give for buying a lot? Let us know in the comments below!

We are not just your builder; we are your neighbor!