There are so many reasons why you could possibly consider buying land to build your home. With soaring property prices, one of the reasons to build is to attain your dream home on a budget. Regardless of your motivation, there are some key mistakes to avoid when buying land. Here we have compiled a beginners guide to buying land. In addition, we have also included some tips on navigating the minefield of buying land.
While the results of purchasing land and building on it can be fulfilling, it certainly is not for the faint of heart. Besides the complexities of dealing with contractors, as well as staying in budget, there is the matter of finding the ideal piece of land. A lot of inexperienced land buyers are often caught off guard by the complexity and demands of this exercise.
Location and size
Although location and size are usually at the forefront of every buyer’s thinking, these should not be your main priority. One of the biggest mistakes that first-time developers make is to focus on finding a plot of land that is big and is in the right place. Unfortunately, if you focus solely on these aspects hen you are missing the really crucial issue. Your primary focus when choosing a piece of land should be whether the land is habitable and acceptable to live on. A high number of people have bought pieces of land only to realize afterward that it is fit to live on.
Another very important factor for consideration is the availability of utilities such as plumbing and electricity. The absence of utilities should be something you think about very carefully and factor into your budget. Connecting utilities to your plot of land can cost a significant amount and set you back quite a bit.
Sometimes there will be existing structures on the plot of land that you might have to demolish. This is yet another expense that you will have to facilitate for. In the first place, you can hire heavy machinery and excavators to carry out a mechanical demolition. However, mechanical demolitions cost more although they are faster. Alternatively, a small-scale physical demolition can be undertaken. Although less costly, this will be a time-consuming exercise. Prior to carrying out any demolition consult with your architect and builder. There might use it to incorporate some of the existing structure in the new build.
Each country has its own set of zoning requirements. As such you must carry out thorough research as to the relevant zoning ordinances that you must comply with. Before you commit to purchasing any piece of land you must establish if you can actually build the type of house you intend to. Most first-time land buyers are shocked to find out that they cannot build the home of their dreams due to zoning restrictions.
Building the house
Finally, it is important that you assemble a competent team to undertake the construction project. Do not wait until you buy the plot of land to start looking for professionals to handle the work. In fact, you must put your team together before you even buy the land. Your team will not only help bring your dream to fruition but will also advise on the best way to go about constructing your home. Ensure your team includes a competent architect, builder, as well as experienced subcontractors. Moreover, insist on working with adequately licensed professions with loads of experience. And never ever forget that any professional you work with should be fully insured.