Finding the Perfect Land Made Simple
Buying land can be very intimidating when it doesn't have to be! With Coldwell Banker's experience and expertise, your dream of building a home can be a reality!
Searching for land can be a fun adventure. The perfect building site for your new home may be waiting to be discovered in an overgrown jungle of brambles and weeds. We can help you find your diamond in the rough by guiding you through the proper steps...
Knowing Where to Start
First, talk to area building contractors to find out the average price per square foot you can expect to pay for the type of home you wish to build. We will get you in touch with reputable building contractors if you don't have one already. You will also need estimates for grading the pad, building a driveway or road to the homesite, well and septic systems if your home will not be connected to community water and sewer. These will be your estimated building costs. Deduct the estimated building costs from your total budget - then deduct a bit more for unexpected expenses - to find the maximum amount you can spend on the land. .
Get Loan Approval
Talk with a mortgage broker to find out how much you can afford, the types of land loans that are available including some with as little as 10% down. If you plan to build right away, they can explain the construction loan process to you, including the closing procedures you will encounter while the house is being built. They can give you a preapproval letter, which shows your borrowing power. We will use it when negotiating in a parcel of land to demonstrate your financial strength and show you have the ability to go through with the purchase.
Figuring Out Your Wants and Needs
Make a list of all the features that would exist on the ideal piece of land. Highlight your must-haves, such as a great view, privacy or a waterfront property. Tour neighborhoods and pay attention to the settings. What is the minimum size lot you are willing to consider? We can help you with this process by making creative suggestions, such as, if privacy is your main focus, a 1 acre heavily wooded lot can be more private than a 3 acre lot that is open. Know the type of home you want to build. Most developments have restrictive CC&R's - covenants, codes and restrictions - that dictate everything from home size to building type to paint color. We will help you determine if the home you want is allowed or if you can live with the restrictions.
Look at Parcels of Land
We will research the land available in your desired area for you in advance. After we've determined what is available, we will preview the properties so I will show you only those lots best suited to your needs and style.
Choose a Property
Now you have found a few properties you really like. How do you choose the one right for you? We will take a builder to your top choices to offer advice about the best building sites and to suggest home plans that will work with the topography. We will help you to check availability of utility services to the land, to find out if someone else has a right to use the property you want to buy, to locate the property boundaries, acquire a survey or update an existing survey when needed, and ask for a signed statement that discloses facts about buried items, ex. a rock burial, whose removal and cleanup can be expensive. I will help you determine the area that best meets your needs.
Make An Offer
Buying a parcel of land is a huge commitment, and we are sensitive to the importance of that decision you are about to make. Before we make an offer, we will help you think of the "what ifs" - things that would make the property unusable for your purposes. We will add these things to the offer as contingencies, things that must or must not happen before you buy to facilitate negotiation of a win-win agreement that will satisfy both you and the seller.
Call Us Today to find your perfect building site!
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