Building a new home from scratch can be a dream come true. The idea of designing the perfect property with the morning sun coming through the kitchen and evening breezes on the deck can be exhilarating. The first step to a successful home building project is finding the right piece of land on which to build. This can present challenges if not approached correctly.
Asheville NC and the surrounding areas are home to beautiful views, nature and quiet escapes away from town where you can build your dream home! Read on to get our top tips for buying land in Asheville, NC.
More than most real estate transactions, it’s critical to hire an agent who specializes in land purchases and can guide you through the steps. The local agents at Asheville Realty Group not only specialize in home buying and selling but also land and country-side acreage. Get in touch with one of our Asheville real estate agents today to discuss your land-buying journey.
Higher Down Payment
Finding a lender for vacant land can be difficult. Those who will finance land typically require a 20-50% down payment and above-average interest rates and terms. If you’re buying raw land, your down payment will need to be even higher. Lenders handle land loans differently than home loans so it’s good if you’re prepared for a higher up-front payment.
Get the Neighborhood Comps
Do not neglect to understand home values in the community before you purchase a piece of land. it’s important to understand the property’s market value so you do not over (or under) when building your home. Land is typically valued with the following questions:
- How is the property zoned?
- How much land inventory is available on the market?
- What are similar properties listed for in the near vicinity?
- How desirable is the property?
- Does the property have road access?
- What is the size, shape and dimensions of the property?
- How close is the property to local amenities?
- What do the adjoining properties look like?
It is critical to research the property thoroughly before making buying land in Asheville NC. Just a few considerations to keep in mind include:
- Site surveys and environmental testing
- Easements and zoning restrictions
- Lot survey and boundaries
- Utilities and water rights
Once you’ve completed these preliminary reviews, it’s time to consult with an architect and general contractor who will then begin to develop the home concept drawings.
Staying flexible is a key component to searching for land to purchase in Asheville; remember that by following a few tips, you can ensure you find the right lot for your dream home.
About Asheville Realty Group
Asheville Realty Group is a boutique brokerage firm offering full-service real estate services. We have locally experienced agents who specialize in residential homes, luxury homes, country-side acreage and everything in between. We love Asheville and the surrounding mountain communities that we call home!
Get in touch with us today by filling out the form below or give us a call at 828-252-1910