Posted by Marie Presti on 1/5/2020

Image by Paul Brennan from Pixabay

Have you always wanted to design your dream home at a location of your choosing? If so, buying a plot of land to build your customized home on is probably your best option. Before getting started, you'll want to do your due diligence to ensure you're making a smart investment.

Find a Property to Build on

The concept of customizing your home is an ideal one, but the reality of finding the perfect plot isn’t so simple. You can check listings, but there are several other ways to find ready-to-build-on land.

  • Ask locals about available land in the community you’re considering.
  • Look at expired and withdrawn land listings.
  • Ask your real estate agent about land purchased by previous clients but never built on.
  • Investigate classified ads to find sellers listing property independently.
  • Check realestatesales.gov to see if the government is selling off repossessed land.
  • If you find land approved but not yet suitable for build, you’ll also want to take clearing and grading the land into consideration.

    Understand Local Zoning Laws

    Some municipalities are stringent about how land can be used. Before you buy, it’s critically important to understand local building restrictions and zoning criteria. Any number of scenarios might prevent you from building your home. Here are just a few.

  • Property is zoned for agricultural or commercial use.
  • Size of the house you plan to build exceeds the maximum size septic tank allowed to be built.
  • Parcel of land is designated an environmentally-protected parcel (i.e. wetland).
  • Someone other than landowner owns mineral or timber rights.
  • Easement or access rights are attached to the land.
  • Be certain to understand every possible building restriction or zoning requirement before you purchase land. It would be disastrous to discover you can’t build your dream home the way you planned.

    Utility Hookups

    Does the land meet local criteria or have the right terrain for these necessities to be installed? Utility hookups are a detail you don't want to overlook—ensure you'll have access to water, sewer, electricity, natural gas and Internet. If no public water or sewer lines exist, you’ll need to learn about wells and septic tanks.

    Understanding the Financials of Buying Land

    Obtaining funding to buy land is a little different than taking out a mortgage to buy an already existing home. You’ll typically have a few options including paying in cash or getting a loan. Types of loans include land or lot loans, construction loans and seller-backed loans.

    These loans are usually short-term and involve high-interest rates because lenders generally perceive land purchases a riskier gamble than home purchases. As with any major purchase, carefully evaluate your financial situation and consider future expenses and other contingencies before committing to a loan to purchase land.

    Building your home on a plot of land takes additional planning because there are numerous details to explore before you can even begin to get started. While building a home is a more complicated process than buying an existing one, customizing a new home is a far more fulfilling investment for many people.




    Categories: Uncategorized  


    Posted by Marie Presti on 10/5/2018


    25 Centre St, Dover, MA 02030

    Land

    $689,900
    Price

    1.00
    Acres
    Residential
    Land Type
    Best bargain in Dover! Great potential for a developer. Currently used as a 3br 1ba bungalow. Homes a few lots down are new construction 5 bedrooms and selling for $1.7M and above. Buyer should do their own due diligence. Located in a desirable area of Dover close to the center of town, library, schools, trails and park, minutes from downtown Wellesley and Needham, and close to 128. Property backs up to the Bay Colony Rail Trail. Also listed as a single family. See MLS 72320706.
    Open House
    Sunday
    October 07 at 1:30 PM to 3:00 PM
    Cannot make the Open Houses?
    Location: 25 Centre St, Dover, MA 02030    Get Directions






    Tags: Real estate   Land   Open House   Dover   02030  
    Categories: Open House  


    Posted by Marie Presti on 10/2/2018


    25 Centre St, Dover, MA 02030

    Land

    $689,900
    Price

    1.00
    Acres
    Residential
    Land Type
    Best bargain in Dover! Great potential for a developer. Currently used as a 3br 1ba bungalow. Homes a few lots down are new construction 5 bedrooms and selling for $1.7M and above. Buyer should do their own due diligence. Located in a desirable area of Dover close to the center of town, library, schools, trails and park, minutes from downtown Wellesley and Needham, and close to 128. Property backs up to the Bay Colony Rail Trail. Also listed as a single family. See MLS 72320706.
    Open House
    No scheduled Open Houses






    Tags: Real estate   Land   Dover   02030  
    Categories: Price Change  


    Posted by Marie Presti on 9/27/2018


    25 Centre St, Dover, MA 02030

    Land

    $699,900
    Price

    1.00
    Acres
    Residential
    Land Type
    Best bargain in Dover! Great potential for a developer. Currently used as a 3br 1ba bungalow. Homes a few lots down are new construction 5 bedrooms and selling for $1.7M and above. Buyer should do their own due diligence. Located in a desirable area of Dover close to the center of town, library, schools, trails and park, minutes from downtown Wellesley and Needham, and close to 128. Property backs up to the Bay Colony Rail Trail. Also listed as a single family. See MLS 72320706.
    Open House
    Sunday
    September 30 at 2:00 PM to 3:30 PM
    Cannot make the Open Houses?
    Location: 25 Centre St, Dover, MA 02030    Get Directions






    Tags: Real estate   Land   Open House   Dover   02030  
    Categories: Open House  


    Posted by Marie Presti on 8/23/2018


    25 Centre St, Dover, MA 02030

    Land

    $699,900
    Price

    1.00
    Acres
    Residential
    Land Type
    Best bargain in Dover! Great potential for a developer. Currently used as a 3br 1ba bungalow. Homes a few lots down are new construction 5 bedrooms and selling for $1.7M and above. Buyer should do their own due diligence. Located in a desirable area of Dover close to the center of town, library, schools, trails and park, minutes from downtown Wellesley and Needham, and close to 128. Property backs up to the Bay Colony Rail Trail. Also listed as a single family. See MLS 72320706.
    Open House
    Sunday
    August 26 at 12:00 PM to 1:00 PM
    Cannot make the Open Houses?
    Location: 25 Centre St, Dover, MA 02030    Get Directions






    Tags: Real estate   Land   Open House   Dover   02030  
    Categories: Open House  




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