If you are interested in building your own home rather than buying one, you might be in the market for the perfect lot to call home. However, as you might have noticed, land can be expensive. Fortunately, there are a few ways that you can save money when buying land for your new home.
1. Consider "Undesirable" Lots
First of all, you should consider so-called undesirable lots. Some people, for example, do not like corner lots because they think that they have less privacy, but you might love a corner lot because it can often look and feel more spacious. Some homebuyers might not be interested in lots at the beginning of the neighborhood, but you might like the convenience to the main road. Consider these so-called undesirable lots, since they can sometimes be more affordable and since you might actually prefer them.
2. Do Your Own Prep Work
If you are looking for a piece of land that has already been perfectly graded, you're probably going to pay a little more for it. If you don't mind doing a bit of work to get your new lot ready for construction, consider doing your own prep work. If you buy a wooded lot, for example, you may be able to find a timber company that will come and clear it for free in exchange for being able to keep all of the wood. If you are able to do a bit of work yourself, you may be able to rent heavy equipment to grade the land yourself before contacting a company like Hanover Concrete Company to pour your foundation. This can allow you to purchase a lot that you otherwise couldn't afford, and it can be nice to be a part of the process.
3. Split Up the Land
Some parcels of land are available at cheaper prices per acre if you buy a larger amount at once. Consider buying a larger piece of property and splitting it with a friend or family member who is also looking for land, or buy the land, then sell what you don't want yourself. You may even be able to make a nice profit if you take that step, or if you split the land with someone you know, you'll be able to effectively choose your own neighbors.
As you can see, there are ways to save money when buying a lot for your new home. Give one of these ideas a try, and you may be able to buy a nice piece of land for less than you thought.
