How to find a decent lot at a decent price
If you are thinking of building a new home, the first thing that you are going to have to do is find the property on which to build it. This task is no picnic and often it seems difficult if not impossible to find a decent lot at a decent price. There are some steps you can take to make sure you get good land for your money.
Find out how much you can spend-the first thing you should do is meet with your financial advisor to discuss your money. If you don't have a financial advisor, you can talk with the loan broker or even the realtor who is going to handle the sale of the land. They will help you analyze your finances and the total amount that you will be able to spend on the building project. You can then figure out how much of that total chunk of money should be allocated towards the land.
Decide what you features you want on your lot-you may have your heart set on beachfront property or on a mountain view. These are options you will have to pay for. You will also need to consider if your lot will be connected to community water and sewer systems. You might pay less for a lot that isn't connected because you will have to pay more for digging a well or implementing a septic system later. The other thing you want to consider is your neighborhood. Again, you will pay more for lots in "nice" neighborhoods than you will for lots in the "hood".
Go browsing-you will spend a good deal of time hunting for the right lot for you. You might want to start your shopping spree by driving around looking for vacant lots with "for sale" signs. You should also use the internet to help you find available lots. These days people post everything on the internet, this will be a valuable resource in finding available lots and also for getting good ideas about what a decent price is for the type of lot you are interested in.
Aggressively shopping-once you have looked around to see what is available it is time to get busy shopping. To shop aggressively and find the best lot for you might contact landowners who are not currently selling. If you find a piece of land that you want to by you can go to the tax commission to find out who owns it. Contact the owner and find out if they would be interested in selling the land.
The shopping phase is the time that you should start working with a realtor. Use word of mouth, find a good aggressive realtor, and use him or her to locate pieces of land that would be the best for you.
Be flexible-sometimes if you want to get a great price you might have to change you plans a little. You might consider different areas, maybe a little farther away or a little less scenic than you had originally planned on. Don't limit yourself; you might be closing the door on an awesome deal.
You might also considering buying an existing home and then tearing it down. Sometimes older, rundown homes are sitting on perfectly good pieces of property. Keep you eye out for a situation like this. If you can get a hold of some land that is sitting under a shack, you are going to get a great deal on the land. Tearing a house down doesn't cost that much more money and all of the utilities will be ready for you to build on. You might even be able to save a little money by using the existing driveway or even the existing foundation.
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Tags: lots property land cost price decent price affordable realtor financial_advisor
