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Tips for Buying Land Before Building Your Home

If you’re in the process of house hunting, it’s important to know all your options. After exploring the homes for sale, and not having any luck, speak to your realtor about investing in land to build what you’re wanting. Even if you need a little guidance, there are many developments that give you layout options, choice of interior designs, and much more. You can literally pick from a variety of options how you want your house to look, inside and out. Or if you’ve already done your research and found a contractor that can design and build the home you want, the next step is finding where you want to build.

When buying a home, there are many factors that go into it from location to school district to commute time. Same goes when you’re purchasing land and building. Below are some points to remember when looking at land for your future home.

  • Location

When buying a lot, the surrounding area matters too. You want to buy a lot that is in a desirable location now and in the future. If you sell further down the road, will people want to buy in that area? What are the school districts like? How close is the nearest store? These are all important things that will matter at some point.

  • Limitations

You also just consider the limitations to your build. How big is your home allowed to be on your size property? Is there a guideline as to how close to the property line you can build? The size of your lot can determine the size of your house.

  • Utilities

How will you get power to your house? Where will your water supply come from? What about gas? These are all things to consider prior to purchasing the lot. If the lot you’re looking at is far off from the main town or in a more remote location, there could be a major cost in getting these utilities to your home. Be sure to do your research prior to selecting a lot to avoid unexpected costs.

  • Maintenance

Of course in Colorado, it’s important to know who will be maintaining the area when it snows. If you’re building in a development, know who comes through to plow snow and maintain your roads and sidewalks. If you’re away from a development and building on your own, find out who is responsible for that area or if it’s something you will have to do on your own.

  • Negative factors

What is around the lot you’re building? Is the surrounding neighborhood nice that people will enjoy it in ten years? Is it possible the area you’re building in could become more commercial? Knowing the area and how it’s going to be in the future will help you understand the possible value of your home after building.

Let the home building process be exciting. If this is the route you’re going to take, make sure you have a general idea of what this entire process entails. Think about the future but also consider the now so you don’t end up unhappy with something you thought you’d love.

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