It may seem like forever since you started dreaming of owning a home, and finally there is a light at the end of the tunnel. However, one thing stands in the way – how do you get the perfect land for custom home building? This is a question that most clients find overwhelming, but we at Alair Homes Houston have a few tips we hope will help.
Real Estate Agents
Seeking help from a real estate agent is a great way to expedite the process. There are many here in the Houston market that specialize in finding land that is suitable for a build-on-your-own lot situation. They also could help you sift thought the current home listings to see if there is a possibility of buying an older home at a significant value and demolishing it.
Consider Land Value
It is essential to figure out property market value in the area to have a clear picture on how land cost compares. Doing so helps you know if the asking price is worth it, but also helps determine what size and value home you will be able to build and still be in the market range for the area. Should you choose to sell your home down the line, you ideally do not want to be valued significantly higher than the surrounding homes. A good rule of thumb banks and insurance agents use is that the land should be 25%-33% (or less) of your total eventual market value.
Consider HOA and City Guidelines
Some areas of Houston are stricter than others about the types of homes you can build and standards by which you can maintain your home. Ensure for any land purchase you fully consider the permits needed from a municipality or the HOA guideline that would apply. Everything from exterior material colors, driveway types, mailboxes to landscaping requirements should be considered to ensure that your dream home will be a great fit for the area and you are not surprised by the guidelines enforced.
Finding the right land to make your custom home building dream a reality isn’t that hard after all. The good news is that you are now aware of what to avoid and look out for. Happy building!