Highlights:
- When buying a new home, the lot choice can be critical.
- Dan Polimino reviews some consumer choices.
- Consider the size of the backyard, proximity to other homes and direction of the dirt.
By Dan Polimino
Special to InsideRealEstateNews.com
A big part of buying a new construction home is the lot location.
After all, the first rule of real estate is ?location, location, location? and that applies to the location in the subdivision as well.
Dan Polimino
The first question you have to ask yourself is on what type of home you are looking to build. Do you like two stories? Or maybe you like a ranch. Since basements are a big deal in Colorado, would you like a walkout basement or garden level? Walkout basements cost more and require the right type of lot, but they also have a greater value.
Generally, the lot needs to be higher at the front of the lot and slope downwards or below grade as you get to the back of the home.
Next, what does the lot back to or front to? The direction the future home will face can be a big deal for some. In Colorado, people who have an east facing home will have the morning sun on their drive and have a better chance of the snow melting before they need to shovel.
What your lot backs to will determine a lot of the value.
I never let my clients buy a home that backs to a busy street, which will always be hard for resale.
Homes that back to other homes can be OK under certain conditions.
Homes that sit lower than the home in back of them sometimes have what we call a ?the fish bowl effect.? That?s where people feel like their neighbor is looking down on them (not good).
Homes that back to another home that is too close are also a situation you need to avoid.
I know some people don?t care if they have a big backyard. But if you are so close you can pass your neighbor a hotdog from the BBQ over the fence, you?ll have a problem selling that home. If at all possible, always try to buy a lot that backs to open space, backs to a greenbelt, or backs to nothing. These lots are harder to come by and cost more, but they are well worth it when it comes time to resale.
Lastly, size matters. We are always counseling our clients to buy the biggest lot for the least amount of money.
We realize that not everyone wants a big yard or wants to maintain a big yard, but it?s always a good investment. It may also be out of your control if you are buying in certain subdivisions. Some new developments are geared toward empty nesters and there will never be big lots in there to buy. In that case, buy the lot with the best views.
There a lot more factors to consider when picking the right lot for new construction.
Dan Polimino is a Broker/Owner with the Colorado Dream House Team, Keller Williams Realty DTC. Contact Polimino at dan@coloradodreamhouse.com, codreamhouse.com or coloradodreamhouse.com.
Have a story idea or real estate tip? Contact John Rebchook at? JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.
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Related Posts:>Source: http://insiderealestatenews.com/2013/05/a-lot-to-think-about-when-buying-a-lot/
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