There's always the option to buy a lot and build your OWN home!
Some people dream of having a home built specifically to their liking. A big part of that is finding just the right lot to build on. If you currently live in the suburbs, you may be envision a place in the mountains or the countryside where there's more privacy, peace and quiet. Depending on future plans, you may want an acre or two to raise chickens or goats, or add a big work shop or other outbuildings. OR, buy the lot as investment property. Land almost always goes up in value, so you can buy low and sell high down the road.
Of course, as we say in real estate, the price of a lot is driven by location, location, location. A spot on a lake, or someplace with a magnificent view often comes with a higher price tag. The closer the land is to a major city factors in as well. So, 1 acre in the Anchorage area may not be the same as 1 acre in Palmer or in Wasilla.
Important Questions to Ask:
After you've settled on a general location and lot size, there are some important questions to ask. Here are a few:
- Utilities. Does the lot have a natural gas line? Is there electrical to the site? If not, there's the added cost of having a power pole installed.
- Water and Sewer. Will you be hooking up to existing water and sewer? If not, you'll have the added cost of drilling a well and installing a septic system.
- Well. If the lot requires a well to be drilled, know that the cost goes up the deeper a well driller must drill to get an acceptable flow of water. This is important if you are financing your building project. Of course a lot of variables can factor in. It's smart to research to get an idea about other wells in the area. You can go door knocking and ask neighbors, but you can also find this information on line as it's on public record.
- Weather conditions. We recommend spending some time at the lot you are considering buying. Is it in a windy or more sheltered location? If the lot is a wooded one, a significant number of downed trees indicate wind impact. If you're not too crazy about wind, you may want to choose a lot in different location.
- Future of lot. Try to find out what the future might hold for your lot. After all, you'll have so much invested in it--and not just financially either. If you are having a house built, that means your time and energy, plus a good bit of sweat equity, too! Therefore, most people want to know if their area will pretty much stay the way it is, or if there are future plans for developments.
For example, if you are looking for a quiet place to raise a family, you might be disappointed when a major thoroughfare is put through. Or a school goes in next door. Or if a big apartment complex is planned for across the street. So be sure to do your research. Are other lots restricted to solely residential, or zone for commercial or both? Can larger lots be subdivided and to what degree? Are parks, greenbelts, lakes, or rivers preserved against future development? - Setbacks, Easements & Zoning. These have a huge impact on how you may wish to develop and use your land. Even if the lot is "out in the country" doesn't mean it's automatically zoned for horses if that's your plan. There could be all kinds of set-backs relating to the location of existing wells and septic systems, driveways, right-of-ways and easements.
Bottom line, it's always wise to do your research and ask a lot of questions. At My Favorite Realty, we're here to help! Everything we do, we do to make the world around us a better place. And we do that by being authentic, honest, & easy to work with. If you're looking for a building lot or just have questions in general about finding land in the Mat-Su Valley, give us a call at (907) 746-HOME.
