1. Location, location, location: Seems obvious, but this is really the most important one. Note all the features of the location such as: commute/traffic conditions, neighbors/surroundings, school districts, property taxes, community facilities, noise from nearby trains, natural features. All these contribute to the land’s value and how well the property is a fit for you based on your needs.
2. Think Big Picture: The lot is only one piece of the puzzle. Make a list of your priorities. The more detailed, the better. This will save you time. The design of the house can be tailored to the lot, but some details cannot be overcome as easily. For example, if your future home needs to be one story or universal design, you will need a lot that has a gentle topography with enough space to accommodate the square footage.
3. Building regulations specific to your lot: This includes zoning and setbacks, minimum house size. architectural review boards, & covenants. Your ultra modern dream home could be rejected by a review board that only allows traditional homes. What if you want a three story house, but the zoning restricts you to two? Also check the zoning for the adjacent lots. If you build next to an empty lot that’s zoned for commercial development, you might end up with a gas station next door in a few years.
4. Utilities: This is not something you have to think about when you buy an existing house, but is very important in planning a new house. Getting utilities to the house location may significantly impact your budget. You will need to know about access to power, water, waste, phone, internet, and gas. Cities charge a tap fee to hook up to water. Power companies charge for bringing out new poles and lines and even more if you go underground. A new septic tank will be needed if there is no access to city sewer service. The fees can add up fast. I’m talking about thousands, just to have the basics you take for granted with an existing house. Call the utility companies first before investing in the property to get a quote for fees and services.
5. Visualize your new home: Visualization is a well-known technique used by many successful people in order to help achieve their goals. It works particularly well in this case. Contemplate how your house will look next to the surrounding houses. Is the backyard full of trees that would need to be removed for a pool? Where are the best views? Consider having an architect construct a 3-D model for the ultimate virtual tour of your new house before ever breaking ground. You may discover something you had not imagined when you see the house in it’s context.
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