The “hilly” lot or the “close to the lake” lot?
The choices are endless, when it comes to the location that you will build your home at. In our situation, we were seriously considering two lots. For months, we had went back and forth whether to build our home on a lot that was owned by family. We will call it Lot A. It had been a blessing how it came about and was one of the reasons we had put our house on the market. After selling our home, we decided we would look around and that is when we stumbled on Lot B, a beautiful two acre hilly lot in the area that we loved. Here are some of the questions that we asked ourselves, that helped us determine which lot we were meant to build our house on.
What is my budget?
Lot A, was going to cost about forty percent less than Lot B. We loved the layout and the scenic view of Lot B. But before we could make a decision, we would have to do our homework. No matter how beautiful the lot is, if we could not afford it, then we needed to move on. We had an excavator come out and give us a estimate on prepping the lot. Lot B would be double the cost in prep work. The building permit and other fees was going to be $6000 – $10,000, whereas with Lot A, we could get started for under $1500. Lot A already had a septic system. Lot B required a special septic system due to building on a hill. It would run between $12000 – $15000. Lot B required blueprints drawn from a TN certified architect, whereas Lot A did not require this. To make Lot B happen, we would have to cut from somewhere. Could our budget handle it?
Do your homework before purchasing the lot. If a real estate agent tell’s you, “ahhh, just throw a little dirt on the lot and you will be ready to build,” get the opinion of an expert. When choosing a lot to build a house on, you want to make sure you are looking at it logically (thank God, I have my wife). You are only at the beginning stage of making decisions that can make or break your budget and you want to start out right.
Is convenience important to you?
Do you spend a lot of time away from home? Would driving a hour to work be cumbersome to you? I have friends that drive a hour or so to work and they are okay with it. To them, they love the location of their home, more than being convenient to work. The location is a very serious decision, that should be considered carefully. It does not matter how beautiful and serene the lot is, if you are gone twelve hours a day from home, you might end up despising it. If you love being out in the country and you build your home in a cookie cutter subdivision, you might dread coming home. There will not be a perfect scenario but if you take the time and figure out what is important for your family, it will make the decision easier. In our situation, both Lot A and Lot B was pretty much tied in this area.
Stay tuned, for part 2.