So You Want to Buy Land and Build Your Dream Home?
Here are 5 Things to Consider… written by The Fowler Group.
We understand the desire to set your own roots in the Inland Northwest. Whether you are interested in remote privacy in the woods, hilltop view lots, wide open space on the prairie, or waterfront property, the Inland Northwest offers something for everyone. There is something special about finding your land and building your dream home – a place that for years to come will be the setting for many family memories.
We know, because we did just that. And it is one of our greatest joys helping our clients do the same.
We are asked often what the process looks like. Below are several things to consider when looking at land. After reviewing, please reach out to get the conversation started in person. We have just unveiled our first land development in North Spokane: EXODUS RANCH. And this will be the first of many large acreage land developments, we will be representing in partnership with The Devout Group.
Not all land is the same. Here are the main things to consider in your search for land.
1.Raw vs. Developed
Is the land raw or developed? Have any improvements been made to the land in consideration of accessibility, utilities and zoning? Are their current buildable spots available or will extensive excavation be needed?
2. Zoning/ Easements/ CCR’s
What is the current land zoned for? How many residences are allowed on the property? What can you build on the property due to zoning and are there any restrictions? Are there any current easements on the property? Shared roads or maintenance easements with neighboring properties? These easements can be explored further in the feasibility period once under contract. But knowing as much as you can up front will be helpful. Review this information thoroughly! Call the County Building and Planning to confirm the ability to build on the parcels. Contact the Department of Ecology to confirm local well logs. If the county has a department, check with them!
Are their utilities on the property? Where are they located on the property? What is the water source for the property? Is there a well present, if so what is the GPM and water quality? If not, what are the options and costs to having a well installed.
4. Determining Budget + Lending Options
Obviously determining budget is one of the most important things to consider. Determining your house plan will be one of the biggest factors toward your budget; the land will also be a consideration. There are many lending options to secure the land itself. Other options are construction loans to incorporate the land purchase into the entire build. We work with many l lenders that have varying options that we’d be happy to connect you with.
5. Choosing a House Plan + Builder
Choosing a house plan is sometimes the first place people start. This is how we started ourselves, and then found the land that worked with the plan. Others choose the opposite, securing the land first then choosing house plan. The good thing – there is no right or wrong way!
You can choose the house plan pre-designed or work with a local architect. We then suggest getting bids from several builders. Realize you are not comparing apples to apples. See how the builders differ with their “standard” build, consider timeframe and get reviews.
We go more in-depth on all of these subjects in our Custom Home Build Guide – request your free copy here!
We’d be happy to send you a copy, just shoot us an email at [email protected]. And give us a follow on Instagram @fowlergroup.
So much to consider! But what fun times as well. We wish you the best in your land search!
This post was created in partnership with The Fowler Group.