“Location! Location! Location!” Most professionals in the real estate world will agree that location is the primary consideration when choosing where to buy property, but there is more to selecting your lot than meets the eye.
We discussed in a previous blog HOW TO CHOOSE THE RIGHT LOCATION WHEN YOU BUILD ON YOUR LOT some of the first criteria for your search: proximity to work, shopping and good schools. The Tampa Bay area offers the best of all worlds – the freedom of suburban lifestyle with close proximity to urban amenities.
Neighborhood safety and comparable sales
Other less obvious “location” factors to consider include neighborhood safety and comparable sales. Neighborhoods with low crime rates are more apt to appreciate in value over time.
You can easily find comparable sales and values data online nowadays with websites such as Zillow and the local county tax assessor’s website.
Site development costs
Another very important consideration is site development costs. These may include, but are not limited to, permitting, grading, filling, impact fees, existing trees, paving, and utilities.
If the proposed site for your new house is low or drains poorly, expect to have the site graded or filled. Sometimes existing trees and growth may be assets, at other times liabilities.
New developments in some suburban and rural areas may be well established with utilities, rough grading, and roadways. Better to know these costs before you buy that “bargain” site because the site development costs may become your costs.
Contact All State Homes to review your site before you buy.