2. What criteria should I use to define the right building lot for my custom home plan?
First decide on the general area (city, town, village) in which to build, taking into account transportation to work, schools, access to shopping and other facilities. Also consider proximity to any sources of noise and pollution; airports / local flight paths, railway lines, freeways etc., Take the most prevalent wind direction into account, and think about more distant pollution sources that may be a source of irritation such as refineries, power stations, steel plants, etc.
Next, define the characteristics of your preferred specific local neighborhood:
- Do you want a newly developed subdivision neighborhood - with sidewalks, lampposts and modern infrastructure in place? Or would you prefer an older neighborhood, or less structured setting on a rural road?
- What can you afford and how much space do you need? – Building lot prices vary greatly - depending on location, size and surroundings. Rural building lots often provide significantly more space for the same price as suburban subdivisions.
- Is "greenspace" important to you?
- Do you want a flat or sloping lot? If you've already developed a house plan, what lot features would work best?
- Do you like neighborhoods where the home styles are very similar, or do you prefer custom home divisions - where each home is unique?
- If there are any building or deed restrictions, are they reasonable to you?
Now you are ready to seek help from a local professional realtor:
- An experienced local realtor can show you with a number of available lots which meet your criteria.
- Visit the local building department for more specific information on building lots you are considering purchasing.
Buying a building lot is likely to be the most variable component in your budget for building a custom home. More popular areas experience a higher demand for lots, which increases their price. Lot prices can also be higher due to provision of utilities or simply location. Generally a neighborhood with more expensive homes will demand a higher price for building lots. When buying your building lot take these factors into account:
Building Lot Location
Is the lot conveniently located for work, schools and transport?
Are the lot location and the surrounding neighborhood attractive (greenspace, wooded areas, views, etc)?
Consider the quality of schools, churches, and other local facilities.
Local Zoning Restrictions
Single family or multi-family?
What are the set back lines?
Are there any building restrictions
Are there any subdivision dues, and what do they cover?
Building Lot Size
Does the lot size and shape meet your requirements?
Is the lot deep and wide enough to support your house plan (take front and side set backs into account, as well as driveway width for side-loading garages)?
How close will your neighbors be?
Building Lot Ground Conditions
Does the lot slope enough or too much?
Does the lot have any trees?
Is the lot in rocky area (your basement excavation may require blasting)?
Building Lot Utilities
Does the lot have access to treated water?
Does the lot have access to sewers (for a septic system you may require a 'perc test')?
Are gas, electric, phones and cable available?
Building Lot Price
Is this lot price competitive in the surrounding area?
Will you need to add utilities? (This will increase both the cost and the value of your lot).
When you find the ideal lot for your dream home an experienced local realtor will be able to guide you through the process of buying it in the most cost-effective way. An experienced local realtor is usually in a position to recommend a selection of suitable builders to build your luxury custom home, and will provide expert services that can help you avoid costly mistakes and associated time and money. |
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Define your neighborhood Grand Island, NY is a quiet retreat close to Buffalo NY.
Investigate the immediate surroundings of your building lot.
Your Realtor will help you find the right builder.
Building lot location, size, ground conditions and utilities will all affect price.
With the right building lot and the right team of experts your dream home will become a reality.
Park Place Subdivision
Grand Island, NY
Executive building lots for sale
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