While you may have spent years designing your perfect custom luxury home in your mind, have you given any thought about where you will actually build it?
Ironically, finding a bare plot of land in a perfect place to build your dream home can be a massive hurdle to overcome. Especially in highly populated areas, much of the possible land has already been built upon and what remains can be very expensive or undesirable for residential living.
When the time comes to start going out with your real estate agent to find the perfect location to build your new luxury home, keep these important considerations in mind to ensure you don't have any buyer's remorse down the road.
Only Consider Land Currently Zoned for Residential Building
All parcels of bare land come with zoning regulations. While some areas have more restrictive building codes than others, all areas put at least some basic restrictions on the structures you are allowed to put on them.
Since you already know your end goal is to build a luxury home, you should immediately discount any properties that aren't already zoned for residential building. Even if people try to tell you that it's possible to rezone the land, it isn't as easy as it might seem. And, the last thing you want to do is fight with the county's building department about the zoning of your new property when you'd much rather be building your house.
Make No Assumptions About Utility Availability and Costs
Many land buyers find themselves in a lot of trouble because of utility issues they never even considered prior to buying.
Would it surprise you that simply connecting a new home into the power grid can cost tens of thousands of dollars even if there happens to be an existing power pole installed in the easement on the edge of the property?
Do you know that many parcels of land won't drain well enough to pass a percolation test to get the necessary permits to install a septic system, so they require very expensive alternative systems?
Have you heard there are many areas of the country where there is no clean groundwater to drill into for a water well?
When you purchase land to build a custom luxury house, it's vital you have a clear understanding of the availability of utilities and know exactly what they will cost. Doing your due diligence in this area will provide you with the peace of mind that comes from knowing you will be able to build a comfortable and safe home for your family.