Guideline for Purchasing Land/Lot for Building a Home
There is more to purchasing a tract of land, or an individual lot, than meets the eye. There are
many factors to consider in the land purchasing equation. The emotion of owning our own “piece
of paradise” sometimes clouds our rational thinking and we don’t spend the time to thoroughly
exhaust the inspection process. Respectfully, the majority of purchasers, and most real estate
agents (unless they specialize in land only), don’t have the wherewithal to conduct a thorough
due-diligence process and have not had a comprehensive guideline to follow.
I have purchased over 1,000 acres of land, 100’s of lots, and developed many subdivisions, in my
career of almost 40 years. I made some mistakes, early on, because I didn’t exhaust every
possible scenario prior to closing on a property. I trusted what other “experts” told me and it cost
me dearly in time and money. The knowledge of land purchasing I’ve gained, through almost
four decades of experience, is laid out in this simple guideline to help you avoid costly mistakes.
To this day, I follow each one of these steps before closing on large or small tracts of land and
individual building lots.
We see it all too frequently; people come to us for a custom home, to be built on their land, and
we discover that they did very little investigating before they closed on their property. Our hearts
go out to them when we tell them the costs of bringing their property to a buildable status. The
excitement of their purchase instantly turns to a look of despair. One recent client had to spend
over $30,000 (not including clearing) just to get the land suitable to begin forming a foundation.
Not to mention, it took 5 months longer to build their home, because of third party inspections
and all the additional requirements. Another, (fortunately came to us before closing) ask us to
give an opinion on a cul-de-sac lot they were looking to purchase. After inspecting the lot I told
them not to even take the lot for free, because it had so many problems.
If the asking price for a tract of land or a building lot is substantially lower than market prices, I
can assure you…There is a reason! Please don’t put blinders on, because you feel you are
getting a bargain basement price on a property. It will bite you in the wallet every time,
If you closely follow this step-by-step guideline, you have a 99.99% chance of maintaining your
excitement about your “smart” purchase. I have written this easy-to-understand guideline for
you; people looking for a plot of land, or a lot, to build your custom home. The costs of land,
lots and building a home are substantial. We want you to avoid having surprise expenses that
crush the enjoyment of your experience.
My Best to You in Your Land/Lot Purchase and Home Building Experience.
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