If you have not purchased your lot yet, you may wish to ask yourself the following questions:
Would you prefer to build in a planned development (subdivision), where home values will be more stable and controlled, or on a one of a kind lot?
Is the lot and surrounding area suitable for the type of home you are planning to build? Consider this from both a physical and aesthetic point of view.
Will the lot support a basement, slab or crawl space if you plan to have one? A better location almost always justifies spending a little more money.
It is wise to determine the style and size home you plan to build before looking at lots. It would be a shame to find out that the home you want to build won’t fit on the lot after considering baselines. Also, you may want to build near homes of comparable value. To do this, you need to know what size home to build. Having a professional assist you can ensure a proper fit and allow the entire process to go smoothly. Involving your builder is always advisable.
Finding a Lot
Finding the right lot may involve investigating lots from any of the sources below and from others as well:
Local real estate agents and / or…
Multiple listings services
For Sale ads in newspapers
For Sale signs on land
Legal plats in county courthouses
Other local government offices
Drive areas you like; ask about vacant lots – owners may be willing to sell
A knowledgeable professional, specializing in vacant land, can assist you in making these contacts and may have first hand knowledge of the area.
Purchasing the Lot
Review the considerations below. Check for problems and weaknesses.
Request that the seller provide a legal description of the lot, prepared by a registered surveyor, showing all legal easements and baselines (you may not be able to build just anywhere on the lot). Negotiate legal and other closing costs to be paid by or split with the seller. If you must pay all or part of the legal fees, insist on appointing an attorney of YOUR choice.
CASH TALKS, especially when purchasing from an individual rather than an organization. Look for owner financing.
Check resale values in the area of your building site. Build within range of those resales. Do not overbuild or under build.
Utilities: gas, electric, TV, phone, etc. Have they been extended to the property line? Are they accessible?
Does the property need land balancing or fill dirt?
Are there any restrictions on drive access?
Check subdivision by-laws and zoning and building department ordinances for restrictions on height, width, and front, back and side setbacks.
Obtain a Title Search on the property to ensure free and clear title. Insist on title insurance.
Keep in mind, trees are expensive to remove.
Is the land in a flood plain (wetlands)? If so, will the Department of Natural Resources be involved?
Property taxes: Are the schools and roads developed? If not, taxes may go up.
Property may pass percolation test for septic system, but do not assume standard installation cost. Get a written bid before purchasing property.
Survey lot corners: Do not build on your neighbor’s property or on a restricted area.
Use a minimum down payment when purchasing property. Free and clear property in not necessarily a requirement of financing.
This may sound like a daunting task but you do not have to take this on alone. We can help alleviate much of the leg work and research while providing you with the best direction and advice based on your plans.
Purchase your land through Grander Realty, receive 1% CASH BACK
If you would like assistance finding land, please fill out this form and we will do the leg work for you. We'll find the property that you are looking for and then take you to see it in consideration of the plan you have in mind. We have a full-time realtor on staff to help you close the deal.
Envy Homes will not share your personal information with anyone.
We are collecting this information solely to assist you in finding the property that best suits your needs.
Envy Homes is a custom home builder serving Oakland, Macomb, Lapeer, St. Clair, Sanilac and the surrounding counties in SE Michigan. Home illustrations may include additions, options or modifications not part of our standard offerings. Specifications subject to change and elimination. Shrubs and landscaping may be added for effect. Room sizes are approximate. For complete details, see your Envy Homes sales counselor.