Buying A Home
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buying land and building

Hello ladies 

There is alot on here about buying your first home but where is the section for us nesties that are looking to build our dream home. i know it is more expensive but my hubby is an architect and its our dream. i just want somewhere where other people are kicking around the idea going through the same thing we are going through. If your not a farmer and dont have your own land its very hard and very expensive to buy 5 aches before you can build ugh. just feeling a little stressed. 

Re: buying land and building

  • We considered the option, but cost and time were our determining factors. We wanted to be out of our current neighborhood sooner, rather than later. The irony is that it ended up taking us 18 months to find and close on a house, so if we had just bought land at the beginning, it would have taken about the same amount of time in the end. Obviously we had no way of knowing that, so yeah. Like you, we were looking for some space. In our area, 5 acres of land starts at $250k (perc report done, only supports a 3br house, so it's not a very desirable lot). Many of the available lots don't have a perc report, so you end up buying a lot that may not even be able to support a house of the size that you want. That was more risk than I wanted to take. And when we added in construction costs and a 10% contingency fund for overages, it put us well over a price that we could afford on one salary. Building a dream home sounded great when we first thought of it, but the more we researched every aspect of it, the more we realized that it just was not practical for us. But if I hit the big jackpot.... well that would be a whole other story. :)
  • There are some of us on the board.  We built in 05/06...worked with an architect, found 6 acres through a private owner, rolled the land purchase into the construction loan and...voila! :)  I will say...it is a very stressful process but worth it in the end.  This was our second build so it does get a bit easier with each new home.
  • I have often wanted to find that same kind of info on this board...My husband and I are starting to build.  We are actually in the process of getting a variance so that zoning can be approved and construction can begin.  So, yes, we are still at the beginning, and yes, it has been stressful already (esp with two little ones under the age of three at home), but it is my dream, and I will see it through knowing we will have something great on the other side.

     We are very lucky to actually be building on a farm that has been in the family for years, but I still think you can do it if not in that situation.  You might have to be willing to buy land in more rural/less in demand places.  Where we live, land would run about $5K/acre, so really not outrageous at all.

     Also, we have an amazing house plan, but of course, I cannot have every little thing I dream of.  We cut out vaulted ceilings and will probably do acrylic shower/tub units vs tiled, for example.   

  • I'm in the same situation! I grew up on a farm and cannot fathom living on less than an acre for the rest of my life! If where I grew up was a bit closer to my job I would have 100 plus acres to choose from but thats not currently in the cards. I also grew up with horses and would love to have them with me. It is extremely difficult! I would even settle for an older farm house on several acres but even that is difficult.

    I feel for you :(

    If we could find a reasonably price peice of ground and then build a one story and finish the first floor and wait to finish the basement that would make my day! My dad can do a lot of work for us but its so hard to estimate.

  • imageMissyGilmoreGirl:

    I have often wanted to find that same kind of info on this board...My husband and I are starting to build.  We are actually in the process of getting a variance so that zoning can be approved and construction can begin.  So, yes, we are still at the beginning, and yes, it has been stressful already (esp with two little ones under the age of three at home), but it is my dream, and I will see it through knowing we will have something great on the other side.

     We are very lucky to actually be building on a farm that has been in the family for years, but I still think you can do it if not in that situation.  You might have to be willing to buy land in more rural/less in demand places.  Where we live, land would run about $5K/acre, so really not outrageous at all.

     Also, we have an amazing house plan, but of course, I cannot have every little thing I dream of.  We cut out vaulted ceilings and will probably do acrylic shower/tub units vs tiled, for example.   

    Ahh...5k per acre is a sweet deal!  We paid 24K per acre...but, that's average for the area.  And, when you're purchasing privacy, any price works for me!

  • We plan to custom build our next house on a lot (that will probably be) in a new subdivision. We're not looking for a huge lot, and it'll save us the zoning and utilities headaches that might come with buying a larger country lot. My fiance is a carpenter and as a result building new will be better value for us than buying a resale. Plus, we live in an older home now, and we're sick of having to work on it all the time so we're looking forward to getting away from that.

     

    Life is good today.
  • land here is 7k and up an acre and when you need 5 acres and 150 ft of road frontage just to start and by that time you have 40K  just in land i feel like there is no way to win. ugh
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