Are you planning to build a home on your chosen lot? Have you ever considered other vacant lots to construct your house on? You’ve got all the right materials for a perfect house—a wonderful architectural plan and a perfect construction team. All you need now is the perfect vacant lot to make your dream a reality.
Choosing a lot for your home can be a difficult task. Just like any other real estate purchases, your lot needs comprehensive review and deliberation. For starters, you have to observe everything that surrounds the neighborhood. There can be all sorts of restrictions you have to comply with before completing this undertaking. Nevertheless, you are about to make a great, long-term investment here.
Consider these factors before building your home on a vacant lot:
Location
Is the vacant lot close to the city proper? Is the school, your job, grocery store, or restaurants accessible from where you are to place your new home? Is traffic often congested at your area? What are the other problems that you may have to encounter in the near future? Better to have all that resolved before you start construction. Find out where the school, hospital, stores, community centers, sewage system, and parks are. Evaluate if these areas are accessible from your lot to allow ease of commuting. “Location, location, location” as the saying goes.
Growth
Take a look at what the subdivision’s master builders have planned. Will there be future buildings or growth within the vicinity? Did the subdivision already planned for it? Evaluate the subdivision’s outlook for growth.
Neighbors
Drive or walk within the area and check on your neighborhood at different times of the day and week. Observe the surrounding and you may want to acquaint yourself with the neighbors. Give them a heads up on what to expect of their new comer.
Research taxes, fees, and rules
Do your research on the taxes and fees in your subdivision. Will there be a tax increase in the future? How high will the taxes be? Are there any additional fees that will be assessed at some point in time? Is the Homeowners’ Association already established? How high are the HOA fees? Are there already covenants filed and established?
Personal Preferences
Whether you like your future house close to the subdivision entrance, near the park, exposed and lit by the sun, naturally sloped, etc.
There may be pros and cons to every lot in this world. But with the information at hand, you’re guaranteed to find the perfect lot for your dream home!
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