April 26, 2024
Planning construction on a new home? Make sure it’s a buildable lot by verifying these four things before closing.
Preparing to build your dream home can be an exciting, and sometimes intimidating, experience. Finding a lot to build on is a critical step in the process. You should keep in mind that it is legal for someone to sell a lot that isn’t able to be built upon, or that isn’t suitable for your construction specifications. To help you in your search for the perfect site for your new home, here are four things to verify before moving forward so that you can guarantee your lot is buildable according to environmental, zoning and financing requirements.
- Ensure that there is satisfactory documentation from a licensed engineer confirming that the lot will support a Title V septic system (if applicable). This could be a percolation test and soil suitability assessment.
- Check zoning, building and subdivision (if applicable) regulations for the lot. Are you able to build a home to your specifications on this lot? The town will have information about zoning and building regulations, and the subdivision developer, if there is one, will be able to provide guidance on what is permitted to build. You will need to provide proof of this if you are seeking financing for construction, through an appraisal that the property meets zoning requirements.
- Verify whether there is existing access to the property through a road and utilities. This will affect your financing opportunities.
- Speak with an attorney with expertise in land use to review site documentation and verify that the lot is buildable by all existing standards.
Bonus: Ask about what the land has been previously used for, which is required in disclosure by the seller. If there is an unfortunate discovery after the closing, such as toxic materials buried beneath the surface, the cleanup becomes your responsibility.
There are many things to consider when determining whether a lot is right for you. A reputable contractor can be a great resource and will be able to provide guidance and assistance to ensure that the process goes smoothly for you.
Looking to find a partner to help finance construction of your dream home? Reach out to us. Cape Cod 5 is here for you.
