Should You Purchase Land Before Consulting Your Homebuilder?

Should You Purchase Land Before Consulting Your Homebuilder?

Whether you already own land or you’re planning on buying it, you should thoroughly weigh the pros and cons of purchasing land before talking to a builder.

When you decide to build your custom home, the location is very important to you. You may want to be close to certain schools, a body of water, family members, or even a certain neighborhood or part of town. Some people own a piece of land and decide to build a home on it, others decide to buy some land before they talk to their builder. Whether you already own land or you’re planning on buying it, you should thoroughly weigh the pros and cons of purchasing land before talking to a builder.

Pro: You are Totally in Charge

When you search for a piece of land on your own, you are totally in charge of everything. You research the market and the location. Many homeowners like to feel totally in control of where their home is to be built, and the sense of accomplishment knowing they’ve found the perfect spot.

Con: It Will Probably Cost More

Unfortunately, when you’re purchasing land by yourself, there will be many questions that a real estate agent just won’t have answers to. If there is an existing structure, can it be totally demolished? Is the soil strong enough to support the weight of your new custom home? Will you need to obtain special permits for your home? These questions and so many more can all be answered by your builder.

Pro: Loan Terms

For this, you will definitely have to consult a bank officer or your attorney to figure out what is best for you. Once you’ve found and purchased the land yourself, you may be able to qualify for a construction loan.

Build on Your Land or Ours with Homeland Builders

Homeland Builders is honored to help you build your dreams. We proudly serve the custom home needs of families throughout Anne Arundel County, Calvert County, Queen Anne’s County, Prince George’s County, Saint Mary’s County, Montgomery County, and Howard County. If you’re located in Maryland and have a vision for the perfect home for you and your family, don’t hesitate to give us a call at 443-336-1163 or email us at vincemazza@homelandbuildersllc.com today, and we will be happy to answer all of your homebuilding questions. Let us provide you with our complimentary consultation to discuss your project design and budgeting requirements.

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This entry was posted on Friday, January 26th, 2018 at 11:25 am. Both comments and pings are currently closed.