So you’ve decided to do it, you’ve decided to build your dream home. You’ve been watching your local market like a hawk, you’ve watched 101 episodes of your favorite home improvement show and you’ve scanned about 500 house plans; now you know that you’re making the right choice. Now the live decision making process begins, and you’re met with a new set of things that you must consider throughout the journey of deciding on that special style of home and when you can finally put your key in the lock. The first step in the process is critical to the success of the build, the resale potential and your overall happiness in your dream home. This step is choosing your building lot, and what should you consider while making this important decision.
Choose your community and building lot based on more than price. Yes affordability is important, extremely important, but there are other factors associated with where you decide to build your home than you may initially think of. Some things to consider are:
- Is the lot a city lot on city services (and therefore subject to additional city taxes)? Or is it a suburban or country lot that requires well and septic (and the subsequent maintenance)?
- How long is the commute to work?
- Is the community sustainable, with good infrastructure, amenities and potential for further growth?
- Is the lot on a private laneway with two other homes [which may require you to also foot the bill for snow clearing and ice control and could affect resale]?
- If the lot is larger, have you factored in the additional maintenance associated with the upkeep of a larger lot? Or if you’ve chosen a smaller one, will it fit future plans to put in a pool, garage or other item that may be required as you grow with the home?
- Do you have trees? Do you want trees? What are the requirements regarding clearing the lot for your home?
- What are the building requirements, and are there architectural guidelines?
- Will the lot fit your home style, or will you have to make concessions on the style or size?
It can seem overwhelming, but it’s important to look at the current home building lot stock and view it in as many angles as possible before you decide if it’s right for you. If it feels right, then it’s right, and if you can see yourself happy there, the decision has been made.