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Topic: Tips for Buying Lots & Land (Page 3 of 4)

Production Homes vs. Custom Homes – The Differences and Benefits of Each

One of the most important decisions you have to make when planning or buying a new home is choosing the right builder. Most builders can be classified as either Production or Custom home builders. What does that mean and how does one choose? In this post we will give you a run down of the differences and benefits of the two to help point you in the right direction. The Difference Between Production Homes and Custom Homes A Production home involves the same house design used over and over again. These are typically seen in neighborhoods that are built by…

Use Real Estate Professionals: Tip #8 for Buying Residential Lots and Land

All of the 8 Tips for Buying Residential Lots & Land for a New Home play an important role in evaluating a lot or land for sale, but it’s possible that the single most significant tip is to make sure you are working with experienced, knowledgeable and helpful real estate professionals. The A-Team Successfully identifying and purchasing that “right” property often requires the help of professionals with whom you work very closely – like an agent, home builder and architect. These primary contacts for buying lots or land for a new home are your A-Team. Choosing a good A-Team can…

Research Title & Restrictions: Tip #7 for Buying Residential Lots and Land

In our last post on the 8 Tips for Buying Residential Lots & Land for a New Home we discussed roads and access, including easements that may benefit your land. Now we will shift our focus to title restrictions and other restrictions that may burden your land. Before buying a lot, you always should review the lot’s title and get owner’s title insurance. Reviewing “title” for a property typically includes an in-depth study of the parcel’s history through land records, maps, liens, legal documents and other facts on the public record that may affect a property. This may sound boring,…

Roads & Access: Tip #6 For Buying Lots and Land

Our journey through the 8 Tips for Buying Residential Lots and Land for a New Home continues with a look at the important Technical Due Diligence topic of roads and access. Access: Don’t Get Landlocked Landlocked. It’s a real estate term that describes land completely surrounded by property owned by other parties, impacting the owner’s ability to freely access the land. This Tip can help you better understand access issues so that you can avoid buying property that is landlocked – or otherwise has inadequate access rights – in the first place. Typically, lots for sale in newer residential communities…

Utilities & Infrastructure: Tip #5 for Buying Lots and Land

If you’ve been looking at residential lots for sale to find a site for your new home and you’ve found your community, evaluated builders, done computer research and checked out the property with a site visit, then it’s time to transition into the Technical Due Diligence stage. This post describes tips for evaluating infrastructure and utilities at the property, and is the first of several posts in this series to focus on Technical Due Diligence. If you’ve decided to put the property under contract (which can allow you to negotiate price, determine key terms and keep it from being sold…

The Site Visit: Tip #4 for Buying Lots and Land

When you’re buying a lot or land for your new home, the level of excitement builds when you think you may have found that “right” site. In Tip #3, our previous post about 8 Tips for Buying Residential Lots and Land for a New Home, we discussed due diligence, computer research and the Spaghetti Test as initial steps to eliminate properties that do not meet your requirements. Now we dig deeper into the due diligence process. The Site Visit So if you think you found property that might pass the Spaghetti Test, then you absolutely, positively have to do a…

Check from Satellite to Street: Tip #3 for Buying Lots and Land

So you’ve put some thought into the style of your neighborhood, the general area where you want to live and the type of builder you will consider using to build your new home. Now the fun begins! You can start to actually locate the specific building lot or land where your new home will live. Due Diligence: It’s a Process If you’ve done some online searches on LotNetwork.com, you likely have found several building lots for sale that you think could be the perfect lot for you. Now you must determine if a particular lot really is what you want…

Choosing Your Builder: Tip #2 for Buying Lots and Land

Today we’re looking at the second of our 8 Tips For Buying Residential Lots and Land for a New Home. So you think you’ve found an area, neighborhood or even lots for sale that fit your community style. Well, at the same time you should be evaluating potential home builders – or even just the types of builders – that you may want to use. Know Your Options Investigate your home builder options carefully. Some vacant lots or land for sale allow you to use any builder you want, but in other areas your choices for builders may be more limited…