Looking for the perfect lot where you can build your custom home isn’t easy. Since 1978, the median size for residential lots dropped by 13%, mainly due to the increased competition for lands in the United States. Aside from that, many available lots aren’t always what they appear to be. Problems can arise from failing to consider flooding risks, property conditions, and zoning laws. These concerns include property maintenance issues, compromised safety, and unexpected expenses.
6 Factors To Consider Before Building A Custom Home On An Existing Lot
- The Lot’s General Condition
Don’t assume that a lot is in good condition just because it seems like it. Purchasing an existing lot based on impulse and without having the soil tested and the property evaluated can lead to damage to your health and home. Possible lot buyers have to request a formal property evaluation or seek out the recommendations of an experienced custom home builder to avoid these possible hazards.
- Zoning Laws
Zoning laws have been around for more than a century and it is the most popular type of regulation when it comes to land utilization. For example, zoning laws may stop you from starting a home based business or storing a boat on your property. You might even deal with remodeling or construction restrictions. If you don’t want to face delays in approval for your plans to build a custom home, be sure to consider the appropriate zoning laws in your area.
- General Land Terrain and Grading of the Property
A lot that is poorly graded could lead to foundation problems, water damage, and flooding issues. These concerns could lead to expensive repairs and extensive landscaping restoration. In most cases, purchases fail to think about property grading problems and their projects wind up going beyond their predetermined project.
The problem is that identifying poorly graded lands isn’t that simple for novice property purchases who are usually focused on the shape and size of the lot as well as other neighbourhood concerns. This downside shows why it’s essential to hire a custom home builder as soon as possible when checking the property.
The existing lot’s terrain must be considered as well. Land terrain is the lot’s orientation, elevation, and slope. A lot that’s heavily sloped or has varying elevations can present several challenges for custom home builders.
- Cost To Prepare The Land
Preparing the property where you’ll build your custom home Myrtle Beach can cost more than $10,000 depending on the lot’s size and the work that has to be finished. The presence of bad ground, trees, as well as sloping sites as the three primary factors that could lead to higher ownership costs for the property. Tree removal could cost you thousands while fixing bad soil could cost you even more. If you don’t factor in these costs, you’ll be shocked in the end once you realize that the purchase you made wasn’t cost-effective at all.
- Flood Zones and Wetlands
Another crucial factor to take into account before building a custom home on a lot is if it is located within a wetland area or a flood zone. For example, a lot of homeowners don’t know that there are federal and state laws that determine how they can use lots located in wetland areas. Some buyers jump the gun before knowing the pros and cons of buying a lot within a flood zone.
An experienced custom home builder can assist you in determining if a property is located on wetlands before you make a purchase. This will help you avoid possible legal violations.
- Property Taxes
Property taxes could be an unforeseen expense for newbie buyers who probably don’t the financial responsibilities that come along with buying a lot. Fortunately, these taxes might be deductible once they’re declared as a personalized itemized deduction. A custom home builder can provide you with expert advice that would assist you in estimating property taxes and how they may change once your home is constructed.
Call Dawol Homes now and let us help you navigate through the many challenges posed by building a custom home on an existing lot.