We have all heard the saying – “..buy land…because they are not making any more of it!”. Well, if you are wanting to build a home, exactly how you want it – there are somethings you should know before purchasing your land parcel.
Getting in the Zone:
Once you have a rough idea of what you want your Custom Built Home to look like and have narrowed down the potential areas to build in – we always recommend spending a day reviewing planning and zoning documents provided by the respected cities and looking at their long range plans for the area (we recommend avoiding areas that could potentially have a multi-lane highway built through them in 10-20 years).
Part of the selection process will also involve evaluating the current zoning and potential rezoning of the land parcel(s) you are leaning towards. If you are not allowed to build your dream house on that land (possibly due to sub-division restrictions) – we need to re-evaluate.
Find the Boundaries:
Restrictions are a good thing. Imagine you built your dream home in an area with no restrictions – and on the land parcels surrounding your home, you had someone open up a landfill, and on the other side was a sewage processing plant and outside your master bedroom balcony you were looking out onto a trailer park…
Besides knowing the rules of what can and can not be done, your review should also cover what infrastructure is already in place. If there is municipal water and sewage – you could be saving 10s of thousands of dollars in construction costs – and of course, you want to ensure public road access, so you can have unobstructed access to your new land (and future home).
Financing:
Unlike conventional mortgages, purchasing and financing land is less competitive and much more of a niche/local market. This is why builders such as Marcraft Homes, often own and hold multiple parcels of land in different locations, it makes the entire Custom Home Building Process that much simpler.
However, when we can not buy and hold the land, we strike long term relationships with the land owners to ensure that we can help facilitate and make introductions for you – as well as work with local realtors, community banks and mortgage brokers to help come up with creative and flexible solutions.
We bring up this topic, because one of the biggest mistakes that we have seen happen is when a buyer falls in love and purchases a lot – and does not take into consideration the unique challenges and construction costs that will arise – which could completely derail their Dream Home plans.
We highly recommend starting the conversation with your Building Team (hopefully Marcraft Homes!) as early on as possible – to avoid potential heart break down the line.
Marcraft Homes is a luxury custom home builder, building and renovating quality residential homes in Metro Vancouver since 2003. Are you thinking of a major home renovation in Metro Vancouver? Call or email Erynn today and ask for the Marcraft Welcome Kit, our free information gathering tool you can use and share with the Marcraft team to help plan and organize your next home renovation project.
Once you have a rough idea of what you want your Custom Built Home to look like and have narrowed down the potential areas to build in – we always recommend spending a day reviewing planning and zoning documents provided by the respected cities and looking at their long range plans for the area (we recommend avoiding areas that could potentially have a multi-lane highway built through them in 10-20 years).
Part of the selection process will also involve evaluating the current zoning and potential rezoning of the land parcel(s) you are leaning towards. If you are not allowed to build your dream house on that land (possibly due to sub-division restrictions) – we need to re-evaluate.
Find the Boundaries:
Restrictions are a good thing. Imagine you built your dream home in an area with no restrictions – and on the land parcels surrounding your home, you had someone open up a landfill, and on the other side was a sewage processing plant and outside your master bedroom balcony you were looking out onto a trailer park…
Besides knowing the rules of what can and can not be done, your review should also cover what infrastructure is already in place. If there is municipal water and sewage – you could be saving 10s of thousands of dollars in construction costs – and of course, you want to ensure public road access, so you can have unobstructed access to your new land (and future home).
Financing:
Unlike conventional mortgages, purchasing and financing land is less competitive and much more of a niche/local market. This is why builders such as Marcraft Homes, often own and hold multiple parcels of land in different locations, it makes the entire Custom Home Building Process that much simpler.
However, when we can not buy and hold the land, we strike long term relationships with the land owners to ensure that we can help facilitate and make introductions for you – as well as work with local realtors, community banks and mortgage brokers to help come up with creative and flexible solutions.
We bring up this topic, because one of the biggest mistakes that we have seen happen is when a buyer falls in love and purchases a lot – and does not take into consideration the unique challenges and construction costs that will arise – which could completely derail their Dream Home plans.
We highly recommend starting the conversation with your Building Team (hopefully Marcraft Homes!) as early on as possible – to avoid potential heart break down the line.
Marcraft Homes is a luxury custom home builder, building and renovating quality residential homes in Metro Vancouver since 2003. Are you thinking of a major home renovation in Metro Vancouver? Call or email Erynn today and ask for the Marcraft Welcome Kit, our free information gathering tool you can use and share with the Marcraft team to help plan and organize your next home renovation project.
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