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Starting from Scratch

Buying Land & Building a House What we call a PreSold.

• You find An Existing home won’t work.

• Or you are Tired of competing for highly desired homes

• Don't want an older house. Have Certain Specific Needs

How much does it cost to buy land and build a house?

• The cost of land varies, size of the lot, where you live and if there’s existing structure

• Negotiate your land and know the market. Lots in C.O $25k to over a Million

• Structure with all inclusive $125 – $500sf.

• Wrap a construction loan into the land loan… find the right lender. We can recommend.

Options for a brand-new house. Have a vision…

• Decide on what you need/want in a home – have an idea about the house. Single story,

two story, basement, how many square feet, bedrooms, bathrooms.

1.Hire a team of professionals.

• Assemble your team even before you’ve purchased the land actually saves you money

and you will know if it fits your budget from the beginning.

• Your team will likely include a Real Estate broker, Lender, designer/ builder

2.Look for land – that fits your need.

• can be a simple process –do your due diligence.

• zoning, grade of land – how level is the property? soil quality? All rocks? Other details

house may need.

• Even if there’s an existing mobile or old home on the property, cost to tear down –

advantages if rural – power to it, well already, etc.

• We as can help with the due diligence process.

• What is needed…utilities, Septic System, A well or sewer & water hookup fees – (SDC)

System Development Charges.

3.Choose your home a Custom-Design or existing plan

• With vacant land, you’re free to build your own house…. May be restrictions…

• Have your Builder and Broker Check and help with municipality approvals, possible

CC&Rs that effect size and placement of the structure and confirm that the home plans

meets local zoning and code ordinances.

• Choose your finishes and colors.

4. Let the construction begin

• timeline flexible.

• hiccups .. weather events, don’t go into a home construction project with an

expectation that it’ll be done on time.

• the builder can maybe give you a target month. Later in the process, estimates of the

completion date get more precise.

© 2020 Powell Team a division of Fred Real Estate Group

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