Tips On Finding Affordable Land for Building Your Home
Maybe you are just about to retire and need to have a place to call your own before the paycheck stops. Or perhaps you are a prudent investor seeking an alternative source of income in the real estate industry. Bottom-line is, building a home is a significant investment requiring a substantial capital outlay, most especially when you consider that you must first find land to put up your house!
There are several ways in which you can search for the land you desire such as looking in reputable residential neighborhoods, researching the area, utilizing online maps, searching online land listings, asking around and talking to local home builders. However, these strategies might fail to yield the results you want. The real estate market can be unforgiving since the market value depreciates or appreciates depending on the number of rooms and their sizes. What if all you want is a small, affordable house that utilizes every inch of the floor area optimally? Here are tips to get you that land and put your eternal search for the ideal property to rest.
Look for land with constraints to build a large house
When you have traveled miles on end with no luck finding a part of the city that permits putting up of small houses, it is time to let the land work in your favor. A land with irregular shapes makes it challenging to build large homes, despite the zoning codes requiring only large-sized homes. It will be in your favor if putting up a much bigger house will go against some restrictions; therefore, officials can allow you to build your small home instead of the lot staying vacant.
The topography of the land can be a quick guide in looking for irregularly shaped lots. Such properties include those with steep terrains, near natural water sources or features since they are prone to floods and other setbacks which limit area suitable for building. Of course, you will still have to convince the zoning officials that your interests align perfectly with theirs by portraying your readiness and willingness to build a well-designed permanent home. Ultimately, that is also the main prospects of the planning district, so if you can do so, you will have a strong working relationship ensuring your small house gets its land.
Increase your square footage and attach an accessory unit
Sometimes, you may want your affordable house, but the stars do not shine your way, so you have to be creative. Since zoning codes usually define a house’s floor area to mean the total habitable living space, you might have to build some attached units to meet the minimum requirement of the square footage for that particular land that has caught your interest. For instance, you may only need 700square feet for your small home, but the minimum requirements are 1500sf; therefore you will have to build an 800 square feet accessory unit.
Unfortunately, if cost plays a huge role in your choice to build a small house, this alternative will not quite sit well with you. However, when you look at the bigger picture, it could be just what you need if you consider the passive income it allows you to collect in the form of rent. Even better is the fact that you will be in control of who comes in to be your neighbor. Better still, later on when you feel you require a much larger space, you can combine the units.
Build an accessory unit to live in
If you still prefer a small house as opposed to ample space, then you can search for a larger existing home with sufficient backyard space for building an accessory unit. The downside of this is the huge capital outlay required since a large house will cost more, and the land will also kick the price higher. Besides, since you will be living in the yet-to-be-constructed unit, you will have to dig deeper into your pockets for construction materials. The upside is that you will already have the existing house to live in as you supervise the ongoing construction.
Moreover, once you move into the attached dwelling unit, the larger house will offer rental income which will help in meeting some of your needs. This alternative is ideal if the location you find is prime and you are willing to meet the requirements of Accessory Dwelling Units. It offers the luxury of freedom since you will have sufficient time to build your preferred small house all in the privacy of your newly bought backyard.
You may need to move to another city
If you cannot find the land you need after exhausting all options available within your city, then it’s time to move to another location. The zoning codes in another town may be a bit lenient requiring less minimal square footage or restrictions. Of course, you will have other factors to consider before moving to an entirely new location. For instance, the availability of social amenities, your budget, and many more factors impact significantly on your decision to move. Still, it is worth looking into; you never know maybe your luck lies in a new city.
So, now that you know how you can get the prime location for your small, affordable house, how about getting the perfect plan for your dream home. Finding land is one thing but building your home to meet the picture you have in mind is an entirely different story altogether. Before you start weighing options that bring your ideal plan down a notch, you can engage a qualified architect to create and design your home in 3D. Turn your Dream home into reality by calling on the experts.
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