The 2021-22 real market has been a challenging one for buyers.  Many have found themselves priced out of multiple bid situations, forlornly contemplating starting over on the hunt for a new home. Historic property inventory lows have pushed some buyers to instead consider building a home. But…building your own home is not for the faint of heart. That said, the additional research and effort a construction project requires, provides you with a home designed to meet the unique needs of your lifestyle.

In any property purchase situation, it’s prudent to begin the process by obtaining financing. Unless you have cash, you’re going to need a loan. Understanding how a construction loan works, and having a pre-qualification letter in your hand, puts you in a strong position as you work with your Realtor® to negotiate a land purchase.

Then the hunt begins! Start by asking yourself; what do you love?  Do you need to have trees or a water feature on the property?  A lot on a hillside with a view, or a flat space where you can plant a vegetable garden?  Share these nuances with your Realtor®, so they can incorporate those parameters into an automated MLS search, that will provide you with links to listings that meet your criteria.

Viewing properties on-line allows you to see all the inventory that meets your criteria in your target area.  Once you’ve selected your favorite properties, your Realtor® can do some preliminary research so you have background on utilities, water rights, and if there is a HOA, before you visit the property.  Taking a day or two to drive by your favorite listings provides a chance to explore and get a feel for the topography in your target area.

Some other things to ponder as you’re exploring properties includes; does the lot you’re interested in have access to city water and sewer, or are you going to need to sink a well and a septic system?  Are utilities plumbed to the building site or do you need to track them down? Infrastructure costs for new construction increases as services from the city or county decrease.

Once you have found the perfect lot, then planning for the structures on the property begins. Finding the right architect is as crucial as hiring the best builder. You want to find someone who shares your vision and understands the ‘use case’ for you home.  Ideally the architect you hire has experience with the type of structure you are envisioning building on the property.

Once the plans are done, then building can begin, there are seasonal limits to keep in mind depending on your geographic area. Building generally progresses a lot faster in good weather and sunshine. Make sure your building schedule provides time for buttoning your project up before the bad weather begins.

Most often a fully licensed general contractor is hired to drive the project.  However, some take the DIY sweat equity approach, which can be very satisfying… but be prepared to devote a considerable amount of time to project management. In either instance permits will need to be pulled for the project from the City or County, or possibly both.

Below are some links to some helpful information as you ponder building the perfect home! Best wishes on your journey!

General

Financing Land

Septic