Thinking about starting from the ground up on the next place you live? Buying land is an appealing option, as it can give you the upmost freedom of choice, if you like making decisions. On the other hand, if you are the type that can’t even decide what to eat for dinner on any given night, it might not be the best idea for you. In this blog, we’ll cover some considerations you might not have thought of when looking into buying land to live on.
1. Buying Land to Live On is a Long Process
As opposed to being able to move into a home quickly, you will have to wait. Finding the land might take just as long as finding an existing house, but after that, it’s a waiting game. Even after the ink dries on the paperwork, there are still a lot of plans to make. If you have the time and patience for your dream home, it could be worth it.
2. You’ll Need An Architect And/Or Builder
Of course you know you’ll need a construction crew to build the house, but you might not realize how monumental the decision really is in getting the right one. Doing research on different architects or building crews will really help in making your ideal vision come to life. Tour newer houses and talk to owners that have gone through the same process. They might give you some insight into who will work best for you!
3. So Many Choices! Freedom or burden?
Do you relish in picking out the clothes you will wear tomorrow or could you care less? If you are too indecisive for your own good, this whole idea might not be for you. The best reason to do this sort of thing is that a lot of your choices are limitless and they are all your own to make. To a picky person, that might sound like heaven. From the faucets to the landscaping, you get to choose exactly what you want! If that seems overwhelming, take it in stride. Consult with others involved and plan accordingly in a step-by-step manner.
4. What About the Utilities?
Will you need to rely on a septic system or city water? Are there cell phone towers nearby or access to high-speed internet? Being out in the great wide open has its advantages, but sometimes they come at a cost. When you find an area that you are considering, research how the utilities work. Talk to nearby residents.
5. It Will Probably Be More Expensive
You can probably guess that there will be more expenses involved. Weigh out whether customization is worth the cost. In certain circumstances you could end up saving! In the last 20 years, there has been a trend of buying larger plots of land, but building tiny houses. While the idea might be cost effective, is it for you? Budget out what you will need to put down along with all the additional costs; hiring a builder/crew, all custom amenities, utility costs, etc.
When it all comes down to it, you must weigh the costs vs the outcome. Is it worth the extra money and time to have your own custom little chunk of land? The answer will be different for everyone. This is also not an answer that should be decided on the spot or even overnight. It requires a lot of research and thinking over.
Still having trouble deciding if buying land is right for you or are you ready to look? Either way, Gregg Sutter is ready to help! With 45 years of combined experience as a builder and real estate agent, you couldn’t ask for anyone more knowledgeable. Contact Gregg today!