If you’re building your home as a first time homebuyer, the first important step is to find the lot. Just like buying the home, there are certain things you need to look for when searching for the ideal plot of land. In addition the lot’s location, you will need to consider the types and styles of properties on other lots in the area, the number of trees and water features around the area, accessibility to power, and a number of other important amenities.
Robert Irwin, author of the book “Tips and Traps When Buying a Home” recommends using a checklist when searching for a lot as a first time homebuyer so that you don’t miss any critical details. Here are some more tips on choosing the lot for your first home:
1. Map out the nearest cities and towns. If the lot that you are interested in is located in a rural area, find out how near the towns and cities are. You may have the need to commute from your new home to work or bring your children to school. Knowing what the access roads are and the distance of your commute to places that you need to go will allow you to see what kind of lifestyle you might have if you choose to buy that lot.
2. Review natural features. How many trees are in and around the lot? Do you have access to a lake? How far is it from your new home? Many first time homebuyers overlook these important details when they have found what looks to be like their ideal lot. However, building a house that is very close to a lake or a forest means you may need to deal with wildlife and flooding during certain times of the year.
3. Find out where the water source is. When you live in a city or urban area, you typically don’t consider where the water is going to come from. When you are building a home on new land – especially in the countryside – you may need to work with a private water company and find ways to irrigate your gardens and land.
4. Find out the soil quality. When you plan to build a new home, you have to know the quality of the soil you will be building on. This is an important factor as it will ensure that your new home is going to have a solid foundation. There are professionals you can hire to assess the soil quality of the lot if you do not know how to check it.
5. Find out about building restrictions. Knowing what the building restrictions are in the area that you plan to build a new home will aid you in your planning. It is highly possible that there are restrictions on what you can build, how much you can renovate or remodel, especially if the property is located near a national forest, a wildlife preserve or a major landmark. Being aware of any restrictions will can help you decide what to do and save you from investing in something that you might regret on a later date.
Aside from the physical features of the property, buyers should check the land title. Make sure that the title of the property is clear and that are no easements of any kind on the lot. This will make the process of building your home a lot less complicated and make it easier for you to purchase the lot for you to build your dream home.
About the Author: Alexandria P. Anderson is an Eden Prairie real estate agent that helps people to find and purchase Eden Prairie homes and properties in the Twin Cities of Minnesota.
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