There are several significant factors to consider when choosing the land on which to build your custom home. These include location, neighborhood, commute times, nearby conveniences and local schools among many others. Very important variables to keep in mind—after all you can modify a house, but you can’t change its location.
In addition to location, it’s important to view lots from both an investment and building perspective. The land must be a smart investment, but also practical from the building and construction standpoint. Finding the balance between these two factors can be challenging.
Related: Custom home building—where do I begin?
According to a survey of custom builders in Custom Builder Magazine, the cost of land can account for up to 25% of the total value of your custom home. Great views, privacy and mature trees are desirable features when looking for land, but these may contribute to a higher cost. The neighborhood is also important to consider when purchasing a lot. Existing homes in the community should provide the range for size and price of your custom home. Building the largest or smallest house in the neighborhood cause difficulty in resale down the road.
Get to know the lay of the land—literally!
Understand the setbacks of the lot. These are the guidelines that define how close to the border of the property you can build. Setbacks affect what size and shape home can fit, and where exactly on the lot your home is built. The landscape of the property also determines what pre-construction site preparation is necessary. For example, a sloped lot may offer impeccable views, but require labor intensive site preparation and more complex foundation. If a lot is located in a low density area, don’t neglect to look into the cost and availability of local utilities like water, sewer and power.
Even if you find a beautiful lot at an attractive price, investigate the property’s setbacks, access to utilities and other distinguishing traits as these could increase the total price considerably. Realize that some of the special features that make a lot highly desirable (and valuable) can end up costing more if extra work is necessary to accommodate them.
Related: What is a USDA rural development home loan?
Support and guidance—start to finish
Highland Builders offers years of experience to help make the home building process straightforward and enjoyable. We understand that choosing a lot is the first of many important decisions in building your dream home. Our team brings visibility into available lots on the market, knowledge of local utilities and the statistics and data to help you make the most informed land purchase.
When you work with Highland Builders, you get support and resources every step of the way—from financing expertise to real estate advice to a large network of the most qualified architects, designers and contractors in the area. We don’t build the house for you—we build it with you. Contact Highland Builders today at 804-449-6006 to begin turning your vision into a reality.
