Buying Land? How to Choose a Lot

Buying Land? How to Choose a Lot

All About Buying Land for the First TimeBuying land seems like it should be simple, but there's more to it than you might think - it is not like buying a new home. Knowing what your priorities are, getting an inspection, and checking out the neighborhood can help you pick the right lot for your needs. Here's what you need to know.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Make a List of Must-Haves

Before looking at lots, home buyers must know what their priorities are for their new home. Lot size, layout, location and other features will all impact what kind of home the buyer is able to construct. Thinking through the must-haves before getting started with the home search will help the buyer pick the right property for them. Examples of must-haves that can impact the type of lot includes:

  • Pool. If the home buyer wants a pool, they may be better off looking for a flat piece of land.
  • View. Some home buyers prioritize a beautiful view, and if they do, they should know what kind of view they're looking for when they start searching for a lot.
  • Large yard or house. The size of the lot will be directly proportional to the size of the yard, and will also affect what size the house may be.
  • Water features. Some home buyers may seek a home by a creek or a pond, others with small children may be deterred by the danger of living with a small child near open water.
  • Shade trees. Large developments start off flat and treeless, so buyers seeking large trees may need to buy their lot outside a development.

Once the buyer has made a list of what they're looking for in a home, they can start seeking out a lot that will meet their needs. This information should also be conveyed to the real estate professional who is helping them.

Check the Commute and Neighbourhood

Many home buyers drive to their job several days per week. The commute from their home to their job can make a big difference in their quality of life when the home is built. Knowing how long the commute is and what the commute entails can help the home buyer decide if a particular lot is right for them.

The best way to measure a commute is to drive the route to work from the empty lot at the same time when the home buyer would normally be driving to work. The buyer should take into consideration how long the commute is and also what the route is like. If the route is pleasant and beautiful, it may be acceptable even if it is too long. If the commute involves start and stop traffic, it may be less pleasant overall.

While studying the commute, the home buyer should also research the neighbourhood. Knowing what the neighbourhood is like and what businesses are nearby that the homebuyer can take advantage of can help the buyer decide whether a neighbourhood is right for them.

Get Environmental Tests and a Survey

The environmental test and survey helps the home buyer ensure that the plot of land is safe. Environmental tests include soil tests, to see if the soil in the area includes anything dangerous that could make life on that plot of land hazardous. Once the tests are done and the plot of land is cleared, the homebuyer will know if they are safe to build their home in that location.

Work With a Real Estate Professional

Working with a real estate professional can help you decide whether a plot of land is for you. If you're ready to buy a Stone Creek home or a plot of land, then working with a real estate professional can help ensure the transaction goes smoothly. Contact your real estate agent to get started today.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

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