I helped over 20 buyers build homes during the pandemic, which was rough. There were delays, inflated costs, and zero leverage. Builders and investors bought up all the good lots and charged whatever they wanted.
Fast-forward to today. Buyers finally have the upper hand and are finding more lots, lower construction costs, and are optimistic that interest rates will be lower a year from now.
Building a home is not for everyone, but if you are curious about what it takes to build your dream home, read this article!
The Top Things to Look for When Buying a Lot
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The Location in the Community - Generally, the further you are into the community, the better.
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Building Restriction Lines - Avoid lots where the home barely fits in the building restriction line.
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Easements - All lots have easements. Know where the easements are and how they differ throughout the community.
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Elevation - Is it a walk-up, walk-out, or English basement? What is the difference? Will you have a flat yard or a sloped yard? Where is your water running off to? More importantly, where is your neighbor’s water running off to?
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The Direction of Your Home - The sun rises in the east and sets in the west. No one likes a dark house, so pay special attention to sunlight.
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Utilities - Only some lots are the same, even in the same community. Some lots are public sewers while others are private septic.
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Value - Lot premiums are often gimmicks. Builders charge them because they can. Higher premiums do not equal value.
Would you like to learn more about buying a lot?
Email me at khalil@glasshousere.com with the word LOT if you need help picking out a home site.
And be sure to follow me on IG & subscribe to my YouTube channel for up-to-date market information.
For more information, check out our website.
