Buying a Lot?

At the Beamish-Moore Group we have more than 20 years' experience helping clients locate and purchase the perfect homesite for their dream home.  Septic, drainage, frontage, deed restrictions...all the issues unique to land are handled for you, so you can focus on the finished project.

   

Questions You Should Ask Before Buying A Lot:

 

1)  Deed Restrictions:  Deed restrictions impact what type of house you can build by controlling square footage minimums, exterior materials, fencing types, outbuildings, etc.  Make sure that the deed restrictions are compatible with the house you wish to build.

2)  Utilities:  What type of utilities are available and what costs will you incur to bring them to the home...septic or sewer, well or city water, electric, propane or natural gas?

3)  Boundaries and House Placements:  Just because you own the land does not always mean you can choose where the house sits on the property.  Setbacks, flood plains and utilites can all affect the placement.

4)  Plans Around the Lot:  Often, building lots are surrounded by open land,  What is currently planned and what zoning would allow is essential information that can drastically affect future property values.

5)  Comparable Land and Lot Prices:  How the land is priced compared to recent sales is a significant piece of information for future value as well as how the plan you want to build compares with surrounding homes.  Being surrounded by higher-priced homes usually has a positive impact on your home value whereas being surrounded by lower-priced homes usually has a negative impact on your long-term home value.

6)  Possible Splits:  On larger parcels it is important to understand your options down the road.  Perhaps 20 acres sounds great now, but maybe in 5 years, 10 acres will be enough.  Can the lot be split to allow you to sell off a parcel at a later date and what would be involved in doing so?

7)  Drainage / Flood Plain Issues:  Nothing makes a lot less desirable than water issues.  Flood plain locations increase insurance costs dramatically, and drainage issues can lead to wet basements, mold or worse.  The cost to address these issues can be high, so it is important to know the answer prior to purchasing the lot.

8)  Site Requirementss and Costs:  Driveway installation, soil removal or addition, trenching for utilities, clearing and other improvements all increase the cost of the land.  Getting these prices prior to closing is key.

9)  Miscellaneous Costs Added to the Home Due to Lot Characteristics:  Walk-out basements add window, door, elevated deck and additional exterior finish costs.  Wet lots add drainage.  Deep setbacks require extended driveway costs and often additional utility costs.  Items like these should be priced prior to closing on your new lot so that you know the real cost.

10)  Knowledge of Lots for Sale:  Often, lots are availble for sale but not advertised anywhere.  Through our contacts with builders and developers, we know of lots available for sale that the general public does not have access to.