Once you have a preliminary house design and budget in mind, your
next step toward creating your new home is often to find the right piece
of land. Buying land is very different from buying a house or condo,
where most common problems can be easily recognized by a competent
builder or home inspector. With vacant, undeveloped there are a host of
other issues that affect the cost of development, and what can and
cannot be built.
Even if you are very familiar with
home construction, an undeveloped piece of land can hold many surprises
both on and below the surface. Often the biggest surprise is the site
development costs, which can be jaw-dropping. Your first job is to
educate yourself at least enough to know what questions to ask – so you
don’t get blind sided by the “unknown unknowns.”
ESTABLISH PRIORITIES
Before you begin your search, take the time to establish a list of
priorities. You probably can’t afford your perfect dream site, so you’ll
need to decide where to compromise and where to stick to your guns.
Some key factors to consider include:
- Commuting distance: How close, or far away, do you want to be from shopping, restaurants, doctors, and other businesses you visit regularly. How far are you willing to commute to shopping and work?
- Schools: Are you happy with the local school system?
- Physical characteristics. Are you looking for a wooded site, open land, high on hillside with views, near access to water? Are views important?
- Neighbours. Do you want a lot of privacy in a rural setting and room for horses? Or would you be happier in a densely settled development where you will see your neighbours regularly and where kids can will find plenty of playmates nearby?
- Municipal services: What private and municipal services are available: water, sewage, electricity, natural gas, cable, high-speed internet?
- Taxes and fees: Are local tax rates acceptable? Are you aware of the fees you will pay to build in this area: water, gas, and connection fees, impact fees, special assessments?
- Size: How large a lot do you need? Would a small lot adjacent to a large area of conservation land be preferable – it will probably be less expensive.
Once you find a building lot you like, run through the Land Buying Check list
to help you identify pros, cons, and open questions. Talk to neighbours
and town officials about your plans. Get the opinions of town officials
(building, planning, and health departments), in writing in possible.
If questions remain, talk to local well drillers and septic system
designers, and if necessary, geo technical engineers familiar with the
area. Eliminate as many uncertainties as possible before making an
offer. Buying the wrong piece of land can be a very expensive learning
experience.
