Buy Land & Build

I'm hearing it more & more each day: We want to buy land & build our dream home!

Everyone wants space to spread out, no HOA to tell them what to do, and oftentimes want animals or the homestead living.

Below are some things you need to consider:

• Financing: Yes, there are some programs that will allow you to get a loan to purchase land. Often, this is only through local banks (for example, I know Mountain Valley Community Bank does). It definitely complicates things in certain situations, especially depending on the condition of the land (is there a roadway making the property accessible?).
  • There are also loan programs called Construction-to-Perm loans, and some will even allow you to roll in the land purchase into your loan! I have a few connections for C2P loans, and I'd love to get you connected with my favorite lenders.
• Testing: It's more than just buying land and running with it! First, you need to do your due diligence on the land itself to make sure it will suit your needs. Some things to consider:
  • Soil testing- Is the soil conducive to installing a septic tank?
  • Water source- If the land does not have access to public water, then you need to make sure you can get water via a well.
  • Survey/property boundaries- Do you know exactly what the boundaries are for the property? Do you have access to a roadway, or is there an easement?
  • Is any part of the property in a Flood Zone?
• Zoning- Will the county/city allow you to build what it is you want to build? Does the property have to be zoned a certain way to do so?
  • "Barndominiums" vary by county/city and have a wide range of requirements. Not as cut-and-dry as a traditional-style home.
  • Wanting to live in an RV? Make sure you check zoning! Many areas won't allow full-time living in an RV for more than 60 consecutive days.
  • Wanting to build a "guest house"- there are requirements!
• Finding a Builder- The sooner you can select a Builder, the better! It's always the best idea to have your Builder view the property before you purchase it so they can help you navigate layout on the lot, if your selected floorplan will work on that lot, and more.
  • If you're getting a Construction-to-Perm loan, your lender will have to get approval for your Builder, and this can be tedious. It's often easiest to either use a Builder that is already approved with your Lender, OR ask your Builder for Lenders they have already been approved through.

Wanting to start the process of finding land to build? Let's chat!