Sunday, October 10, 2010

Do You Know How To Choose A Building Site That's Worth The Investment?

There are three types of land you can buy for a house you want to build:

• Undeveloped land: raw turf; no streets, gutters, sewers; no gas and electric lines; no grading; no surveyed lots.

• Developed land: everything but the house is on hand; probably owned by a developer-builder who typically sells lots to be built on under the builder’s management.

• Spot lots: unused property in an established neighborhood.

Whatever kind of property you propose to buy, get professional advice on the feasibility of building the kind of home there that you have in mind. A poor site choice can adversely affect your ability to get a loan. Here are a few other things to check out:

• Zoning laws. Will they permit the kind of home you expect to build? Read covenants carefully.

• Water and sewage. In buying developed land or a spot lot, find out (from county offices) where the water line is located. Check to see if there is a sewage line and if newcomers are permitted to hook into it. If not, check into septic system rules and costs.

• Gas and electricity. Are they available and at what cost?

• Taxes. How much are they and how do they compare to taxes on similar property in other areas?

• Surrounding property. Check maps (at county offices) to find out what plans (highways, power lines, etc.) may be in the offing for woods, fields, open spaces near the property.

If you’d like to look over properties for your special home plans, e-mail us or give us a call. We’ll be glad to show you all your possible choices.

To find out more, read our valuable online report, FIRST TIME: How To Buy The Most Home For Your Money, by clicking here. You may also be interested in, NEGOTIATE: How To Buy The House You Love At The Price You Want. Clich the link to read it at no obligation. And be sure to give us a call if you have any questions.

Mike Cribbin

Cribbin Realty


3112 Brook Hollow Dr.

O'Fallon, Missouri 63366

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