Looking for Land
Finding property is easy, but finding right land to build on within the budget is the key. We can help to locate, give you negotiating tips and show you how to investigate the lot to reduce cost of overruns that may blow your budget.
Buying land to build your new home on may sound easy and straightforward, but there are things you need to keep in mind to make sure you keep in budget. Your lot should not exceed 20 % to 25% of the value of the homes in the area. This way you still have 75% to 80% to develope the lot and build the home of you dreams.
First you have to ask yourself some questions. Are you building right away? How are you going to pay for it? Do you home a home plan? If your financing do have a budget prepared? Will your plan work with the land?
Where to start
1st Go to our Financing page click through our lenders and get pre approved for your construction loan
3rd Establish a budget from our Budget page
4th Search thru our links in the Land search page
5th Decide how you going to pay for the land, cash, lot/land loan, land contract, option to own, home equity loan or roll it in to the construction loan.
Congratulations
Now that you have found a piece of property it’s time to negotiate. So What things should you have in you agreement
These are suggestion based on past experience. You should contact an attorney, realtor or title company they can help you prepare an negotiate.
That being said.
If financing your offer should being subject to obtaining your loan.
You should also make your subject to being a buildable lot.
Make sure they give you time to make sure the site cost are in your budget. Check the cost for city sewer, water hook ups, electric and gas ( you might have to go under the road, come down the street etc.) most of these can be checked with the city and local excavators. If it’s not a city lot, you want to get an idea of the cost for a septic field and well. If you have a perk test either provide by the owner or by you, most excavators can give you a good ball park of septic field cost. As far as a well go you won’t know till you drill. We have checked with neighboring owners, local well driller to get an idea. We have even drill the well to find the cost, sometimes it cheaper to drill to find you don’t want it then to own it and find out you don’t want it. Knowing these things that maybe the owner did’nt even know, can help you to renegotiate the price
