Building Your Own Home
If you are looking for a home, building your own might not be a bad idea. For one thing, you get to start from scratch, which you might initially see as a disadvantage, but consider the fact that you get to customize every detail of your new home. Many house hunters are often discouraged by the lack of options they have when looking for a house that is in move-in condition. They don’t like certain paint colors, the floor plan seems disjointed to them, or there isn’t enough cupboard space. Building your own home means that you call the shots. Even if you build a house through a development, you are limited in your choices of options, features and fixtures. Hiring an independent contractor and starting from scratch means everything is up to you: the layout, bedroom size, even the style of light switch.
Building your dream home is a huge investment of money and time. If you are committed to it, you are accepting the fact that you will not be packing up and moving anytime soon. You will spend many months, sometimes years building your new house. If that is something you are willing to do, then the first step is to find some lots for sale to buy to begin construction on. If you don’t think you can afford the lot price, plus construction fees, you might want to consider purchasing the lot and leaving it vacant for several years while you save up the money to build your house. Many people decide to build a home, purchase the land, and then spend the next two or three years consulting with an architect who can help them design a floor plan.
Buying and Selling Quickly
Purchasing lots for sale can also be an investment tool. Very rarely will a piece of land go down in value. Usually, a property’s value, especially if it is in a new development, will increase rapidly in the first few years that land is available in that area. During that time period, most lots will have houses built on them, people will start to move in and things will begin to settle down. If you purchase a lot when they are first made available, oftentimes it will have significantly appreciated during the construction period and might be worth almost double what it was before there were houses around it. Depending on the area and the quality of the neighborhood, your property might be highly sought after real estate and you could even ask and receive above the appraisal value. In this context, lots for sale can be a powerful investment medium. Buying and selling property quickly could result in a large profit in a short amount of time.
Land that is not in a residential area can also be beneficial for long-term investing. If you run across a piece of lots for sale that seems to be in the middle of nowhere, you might want to consider the possibilities. Chances are, if the area is not very built up, the land will be relatively inexpensive. Also, you want to remember that just because an area is under-developed right now, doesn’t mean that it will be in five, ten or twenty years. Purchasing land can be a great investment because sometimes the surrounding area will become highly developed, turned into a neighborhood or a shopping mall. Developers will approach you about buying your land. If the land they need is essential in their design, you’ll be able to sell your land for much more than you bought it for.
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