Vacant Land For Sale: To Build or To Buy?
Build or buy? That is the big question when you consider moving.
An important decision maker is often cost. There was a point where it was cheaper to for vacant land for sale and then build your brand new dream home on that piece of land. But that is not necessarily the case anymore, especially following a recession when the property market is slow. This gives the buyer a definite advantage to negotiate a lower price.
But apart from costs, there are also other things to consider. Before you buy vacant land for sale, and spend all that time and energy (not to mention money) on building a house, it is a good idea to spend some time in the area, to give you a better idea of what it is like to live in the specific town or neighbourhood.
It is also advisable that you first visit the local municipality before buying the vacant land or drawing up plans. You might have your mind made up on a Tuscan style two storey house, just to find out that the specific area is in a historical part of town where certain building restrictions are in place preventing you from building outside of the current style.
Ask your potential future neighbours what the area is like in rainy seasons. If the soil doesn’t absorb water quickly, you might have to consider building an elevated foundation. These are some of the unexpected costs that could creep in.
Finding the right building contractor is also essential. If your builder doesn’t do a proper job, it would lead to increased frustration and possible blunders which could impact on the value of your property.
People don’t only buy to build immediately. Often people buy vacant land as an investment. This is ideal in coastal towns where you could then later build for retirement. Buying vacant land for sale in a coastal town also means you are more than likely to easily find a buyer later on, should you want to sell.
Since vacant land for sale in the country side is often cheaper than in cities, you might be surprised at what you could afford!
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27-09-2010, 01:51 PM
Re: Vacant Land For Sale: To Build or To Buy?
