5 Steps to Buying Land for your Dream Home
You are dreaming about owning your own land, building your Dream, and creating the lifestyle you and your family want and deserve. Now, you are probably wondered how to make it happen.
Finding and buying land can seem like a stressful and painful process. There’s no instruction manual on how to do it or even a clear place to start. This guide is intended to be that instruction manual—or at least a road map—to help guide you through the process.
We’ve helped many families work through the struggle of finding, evaluating, negotiating, and closing on their dream piece of land. While doing this we’ve seen patterns emerge and have helped many different people solve similar problems.
Now it’s time for us to share what we’ve learned. Our hope is that you won’t have to blindly fight your way through the jungle of issues when others have already cleared a path.
5 basic steps to finding and buying a piece of land for your dream home.
- Financing. How you’re going to pay for your land comes first. Without a source of funds, you’re just daydreaming.
- Finding. This one seems simple, but just finding the right piece of land can be the most difficult and frustrating step. After all, nobody is making any new real estate.
- Evaluating. This is the step where you have to figure out whether the land you’ve found is even suitable for building.
- Negotiating. Sometimes, land that’s for sale is overpriced (or perhaps underpriced). Or you may find land that isn’t on the market but could be bought for the right price. In either situation, you have to find the market value and negotiate reasonable terms with the seller.
- Closing. This is when the land and money change hands. It’s critical that you know the steps, how long each step will take, and whether you’re actually buying what you think you’re buying.
In the pages ahead, we’ll take a detailed look at each of these phases. When you’re done reading this guide, you’ll have a much better understanding of the process for buying land, and you’ll be armed with the tools needed to make a good decision.