4 Factors to Consider When Purchasing a Lot

When you’re building your custom home, confidence is key! At Walker Custom Homes, we believe in building custom homes that not only meet your individual needs but inspire a true sense of home. Our years of experience, quality of work, and credentialed experts ensure you are confident in each and every decision of the process. The first step of that process is purchasing a lot. Here are 4 factors to consider.  

  1.  Location 
    1. Determine what is most important to you in a location. By answering these questions, you can decide on how close you need to be to a city. 
      1. Do you need to be closer to work?
      2. Where is the nearest grocery store? 
      3. How far is the nearest school for your kids? 

Make sure the location of your lot is accessible to your most frequented locations. After that, it is important to ensure your lot isn’t in a flood zone, this could affect the building cost  of your custom home due to the specific permits needed. 

  1. Land Type
    1. There are 2 types of land: Developed and Undeveloped 
      1. Developed land is considered to have road access and is more or less ready for building as is. It is typically in a subdivision with other developed lots.  
      2. Undeveloped land is land as is, trees haven’t been cleared, there may not be as much road access.

Choose the type of land you want based on your preferences and needs. Undeveloped land, for the most part, will have fewer regulations and will give you more freedom to grow food, have animals, and have other buildings on your lot. On developed land, however, there will be more restrictions. Homeowner Associations (HOA’s) will have regulations to maintain a clean and cohesive look throughout the neighborhood, so you’ll be more limited in your ability to own animals and grow food, etc. Developed land is usually closer to shopping centers and schools, and will typically already have factors like tree clearing and flood zones taken care of for you. The main factor to consider when deciding if you want to purchase developed or undeveloped land is how much freedom you want to have with your land. If you want more land for room to grow food and have animals, you should consider purchasing undeveloped land. If you’re looking at being close to the city, and want the convenience of having land ready to build, then consider purchasing developed land. 

  1. Utilities 

Your utilities will all depend on the location and type of land you have decided to buy. If your land is developed, it mostly means you are closer to a city, which would call for you to have your electricity, and maybe even your water, come from the city. If you are purchasing undeveloped land, you will probably be farther away from a city and therefore will need to provide your own water through a water well.

Also, consider water restrictions if your water will be coming from the city, make sure everything will meet your needs.

  1. Lot Shape & Orientation 
    1. Lots can come in all shapes and sizes, so it is important to look at where you can build your house on your lot to ensure you have the maximum amount of usable land space. Not only that, you want to have privacy with some tree cover, and not be so close to the road that there will be constant noise. Once you decide on placement for your house, see where it will be facing. Typically, homes that face south or southwest have the most demand because they will receive the most sunlight throughout the year. North-facing homes typically have the least amount of value, but it all depends on the orientation of the lot. If your lot is elevated, then you may want to maximize that view. Taking these factors into consideration will help you in your buying decisions and increase the value of your future custom home.  

These are some of the main factors we think are vital when you’re considering purchasing a lot. Make sure you have all your do’s and don’ts decided before you make your decision.

  1.  Do you want a developed or undeveloped lot? 
  2. How close do you need to be to the city? 
  3. Will you be using your land for anything other than having a residence?
  4. Is the land oriented in a way that your house will have privacy, quiet, and high market value? 

Once you answer these questions, you can narrow the market down to what you want. Then you can move on to purchasing your lot and beginning the process of planning your custom home build!

Tune in to the next blog to learn all about our tips for estimating the cost of your custom home. 

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