Spike's Calculators

Spike's How To

Purchase the Right Property

There are many things to consider when purchasing a property for building your home. Most of these will depend on your personal preference and the location you are building your home.

You are limited to your location for a property with a view; it is hard to find an ocean-view property in Colorado or Saskatchewan.

One of the prime considerations for people is the cost of the property and, secondly, its location to schools, shopping, and where you work.

If you have a particular house plan in mind, that can further limit your selection. It is much easier to find the right property location to build your home and design it to fit the lot and your needs.

One more thing to look out for if you plan to build your own home: some subdivisions have designated builders, and you are not allowed to construct your own home. Further, there could be restrictions on the type of home you may build and specific exterior finishing materials you will be required to use, and those may be different from your liking. Find out before you buy.

As a mortgage helper, if you are planning a legal suite in your home, this will have to be allowed for your building lot, and it will depend on the lot's zoning. Not all land zoning types allow for legal suites.

Before you buy, talk to the people living in this area and find out as much as possible about the lot. As a rule, each sub-division comes with one who knows it all. Ending up with a lot that is on solid rock with a shallow layer of topsoil, even though you got it $10,000 cheaper than the ones available across the road, could cost you way more money than that just on the excavating costs. And never mind trying to get the irrigation lines and fence post into the ground afterwards.

Yes, yes, I've been there and done it!! Do as I say, not do as I do.

And, of course, many more issues are involved when purchasing a lot! A house isn't built in one day.

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