Buy or build? If you’re considering new construction, the first item on your To Do list is to find a suitable lot. The experience of builders and architects points to a few key features you should investigate in your search for the perfect spot.
First, and perhaps most obvious, is the size of the lot. The larger the lot, the greater the cost, depending on location. Consider the property taxes and how much maintenance it will require. Remember that the smallest lots tend to appreciate more quickly than their larger neighbors.
Next, imagine how the terrain will affect aspects like drainage and the positioning of the home. Ask your builder to explain the impact the terrain will have on your plan.
Related to the terrain is the view the property offers. Take great care in discovering how adjoining land will be developed, and how that could affect your view. A gas station may one day be built on that beautiful meadow out back.
And finally, the mantra of real estate is “location, location, location.” Want a faster commute? Buy a lot near the entrance of your subdivision. Want to keep your kids safe from traffic? Then plan a purchase further toward the back.
It’s all common sense, really, but it helps to take an organized and educated approach to this critical element of home construction.
Bennington VT, Buying, Investment