The idea of having a brand new home custom designed and built from scratch can be very appealing to any prospective buyer. However, before you can even begin thinking about your new home design, you need to select and purchase an empty lot on which your new home will be built. Don't rush through this process, though, as the location of your new home can have a drastic impact on your quality of life and your home's future value.
DO Save Time With Satellite Technology
These days, there's really no need to visit a prospective real estate property in the early stages of the process. Instead, consider saving time and narrowing down your options by using satellite technology to view potential properties online. With today's online map technology, you can easily locate the vacant lot you're considering and view it for yourself. This can specifically be a great way to rule out properties based on their surroundings. For example, that lakefront property that looks absolutely beautiful in photos may be ruled out once you discover it's located just down the road from a factory.
DO Invest in a Property Assessment
Even once you think you've found the perfect location for your new home, it's a good idea to schedule a property assessment before you finalize anything. With a property assessment, you can get a better idea as to the characteristics of the land itself. For instance, you may learn that it's located in a flood plain or that the soil composition is very rough, which will lead to more expensive excavation costs when it comes time to break ground.
DON'T Overlook Access/Utility Costs
Finally, be sure to find out whether or not the lot you're buying is connected to city utilities and access roads. If not, then you'll need to factor in the additional costs that may be associated with having electric, gas, and water/sewage lines run to your property before your home is built. These details, if overlooked, can add a significant amount of money to your total costs and could end up sending you uncomfortably over your budget.
While selecting a lot on which to build your new home may seem like a minor detail in comparison to the design of your new home itself, it's a pretty big deal and something you should put a lot of thought and consideration into. This way, you can make a decision you'll be happy with for years to come.