Checklist for Buying Land & Building a Home
Many people who live in crowded neighborhoods, apartments or with their parents have a dream of buying some land and building their own home. Sometimes, though, the dream doesn't fit the reality. Be prepared for a long road and more costs than you expected.
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Location
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Finding a place that is convenient to work, family and other destinations while still being affordable can be difficult and time-consuming. You may be tempted to buy a remote piece of land because of its lower cost. Only do this if you enjoy staying home most of the time. Otherwise you will find yourself constantly driving. Savings you realized on the land will eventually be overshadowed by the cost of transportation. Be patient and uncompromising; don't buy until you find what you want.
Budget
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Work out a budget that takes into account how much money you have available up front and how much income you will have on an ongoing basis to cover loans, mortgages and building costs. Virtually everyone who builds a home ends up spending more than planned. If your budget is extremely tight, consider postponing your plans for a year or two while you save money. The more you can pay up front, the lower your mortgage and interest costs.
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Design
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Designing a home requires a knowledge of architecture, family dynamics, future plans and space needs. Touring existing houses can be helpful. Don't be shy about pulling out a tape measure if you find yourself in a house that has the dimensions and layout that you want. If you are planning children in the future, or have limited funds, it's possible to design a house that can be built in two stages, putting off half until it is needed and you can afford it.
Materials
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Most contemporary houses are built with commercial materials from a central location. This is the easiest way to build a house, but if you want to save money and have a house that is more in harmony with its surroundings, consider your other options. Straw bale houses are greener than houses built with conventional materials. Materials such as rammed earth and cob offer other options. Some of these techniques are more labor intensive than stick-built houses, but leave you with lower costs and a unique and durable home.
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References
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