Since a lot purchase has the potential to ruin a new home budget in a hurry, we have created this video series to help owner builders. When the proper due diligence is performed before buying the lot, your new home building experience will be a good one. However, if you don't know what to look for, you may be in for some surprises that can quickly turn your dream into a nightmare.
Does the building envelope of the potential propery work with your dream home plan? Local municipalities have zoning requirements that tell you how close your home can be built to the lot lines and street. This, along with any easements on the property will dictate how big the home's footprint can be. It will also give you the locations where the home can and can't be built.
Do you know what kind of soil is under this lot? If rock is encountered, your cost to build can go up by tens of thousands of dollars. Have you been out to the property at different time of day and different days of the week? This can keep your lot purchase from being in the flight path of the local airport or near a budding rockstar that practices in the garage.