If you’re thinking of building a new home, you’re probably thinking of buying land. Here are four key questions to consider when looking at land:
Topography: Steep, flat, wooded, restricted access or battle lot; Consider building logistics, access, and local building requirements.
Location: City, suburban, rural. The choice of location will largely depend on your commitments, such as the need for employment or schools for your children, and your personal preferences.
Size: standard suburban lot, rural acreage. Consider the purchase price, land requirements and municipal fees.
Type of soil: The subsoil is the main problem. Some types of soil require extensive landscaping or retaining walls before you can lay a foundation for your house.
Now that you have an idea about the land, what about your needs? It’s very easy to fall in love with a totally unsuitable lot because it has a beautiful tree, only to discover that you won’t be able to fit your house on the lot and still comply with local laws. Ask yourself a series of questions to find out what your requirements are:
Q. What do I want to use the land for?
A. You may want to build a single house or you may want to subdivide and sell the remaining land to finance the construction of your house. This will not be possible with some lots you look at.
Q. Does location matter?
A. You may be restricted to living in a certain part of the country or want to start a new life in a remote area. You may be determined to have privacy and any lot with nearby neighboring houses will not meet your needs.
Q. Is there a minimum size building that I am willing to consider?
A. Many lots have existing outline planning permission which can be difficult to change if you want to build a larger home. It pays to think carefully about the design of the house before buying the lot.
Q. Will there be enough space to store materials during construction?
A. Building materials such as roof trusses and precast elements can be bulky. Make sure there is enough floor area to store them, otherwise it could make the build more complex. Similarly, consider access for contractors, vehicles, and deliveries.
Q. How much will the service connection cost?
A. Some lots already have water, gas, electric, and sewer services in place; others may need to be connected remotely and this can add up to considerable cost. Rural lots may even require you to drill for water and utility companies may even require you to maintain their infrastructure on your land.
A developer or real estate agent can help you determine how well the property you’ve found fits into your desired home plan. This will incorporate the needs of the size of the house, the size of the front and back yard, the ponds and other elements that you will add to your home. Talk to your developer to determine if the land ultimately fits your home’s wishes.
Advice: Request a signed statement disclosing facts about buried items, such as oil or gas storage tanks. Their removal and cleanup can be expensive.
