The appeal of buying a bit of land and building your family home can be so strong that you might be setting yourself up for a lot of extra expense.
Not every plot of land is ready for a house right away.
Yet still we see eager buyers signing without getting a builders' opinion or worse, buying a piece of land without getting a clear title using a title company. Buying land without sound purchasing advice is dangerous.
Here are a few problems that you may run into while buying land.
Can you get on and off the property that you want to buy? It sounds so simple, but ingress and egress (entry and exit) can be very complicated when it comes to property. Getting to the public road might require an easement to get through somebody else's property. If you didn't know any better, you might wind up buying a property that is land locked, with no simple entry or exit to a public road.
Only certain slopes and areas of land are suitable for a house. It could turn out that trees need to be moved in order make the property suitable for building a home. Of course, moving or removing trees can cost thousands of dollars. If you hadn't planned on it, a problem like this could wreck the budget for your dream home.
Every piece of land you look at has a slope, sometimes so subtle that you can't tell by simply looking at it. Even though you can't see it, that slope affects whether or not a house can be built on the land. Bringing your property to a specific work would require a tractor, moving dirt and hauling it off, all of which costs quite a bit of money.
These are only a few of the ways in which a simple land purchase can turn into a nightmare. But you can avoid these problems by having a builder inspect the land you're interested in before you buy it.
If you would like to know more, we have additional information about buying land suitable for building.
Athena Captain is Director of Sales and Marketing at Turner & Son Homes, where her passion is building a referral-based company in a niche market. She has helped create a business model that allows Turner & Son Homes to become the “concierge” of building on land in Oklahoma. Athena has successfully led sales teams within retail, banking, and finally bringing her talent to bear in the construction industry. Athena has developed a prospecting system while at Turner & Son Homes that allows any sales professional to become a referral magnet. She will share her system in her upcoming book The Making of a Rainmaker, soon to be released nationwide. With the launch of AthenaCaptain.com, she hopes to help other sales professionals, business owners, and companies apply her proven systems to increase revenue through referrals. She was honored to be a finalist for Edmond Woman of the Year in 2014. She is active within her community as a Board member for Oklahoma Family Network, and she is on the Leadership team of Savannah Station Equine Therapy Program.
The current home on our property has been in existence for over 80 years. We love our property, and made our decision to build our new house there. Turner and Son was the first company we considered and we didn't have to look any further.
The Wells family
March 9, 2016