Unless you find a time machine and some amicable French sellers, you’ll likely not find another deal like the Louisiana Purchase. Choosing the right land for your dream home can be a daunting task, mainly because many factors are at play in determining what entails a pristine piece of property. Aside from the obvious (cost), consider the following questions in the hunt for homeland.
Are modern conveniences readily available?
Location is a treasured commodity to many buyers. Will your land and future house have connections to power, water and other utilities? These details can substantially increase costs. Land in the country costs considerably less than parcels zoned within city limits.
How is the area? School districts, crime rate, amenities?
Area quality may determine demand. High quality areas that feature safe environments and ample resources cost more, as they are more desired.
What is the quality of soil?
Differing types of soil may affect your decisions regarding foundations, landscaping and even home design. It may also determine the effectiveness of your drainage system.
Are there any unusual zoning requirements?
Be sure to investigate zoning before committing to a purchase. Some areas do not allow structures on small parcels of land.
What is the elevation?
Is your land likely to move? If so, your foundation could crack or be subject to natural disasters.
When you’re ready to buy or just looking to learn more, contact Washington Federal for information on our lot loans. Our short-term lot loan gives you two years to finalize your house plans and choose a builder. Enjoy the security of a fixed rate with interest-only payments, and buy a lot with just 30% down.
You could receive a rebate on the lot loan fee when you’re approved for All-in-One Custom Construction financing from Washington Federal within the first 30 months. Remember, the perfect home begins with the perfect location. You’ll know when you find it, and Washington Federal will be there to help.
If you’d like to learn more about custom construction, please download our free eBook!