If you have not yet bought that perfect lot to build your dream house on, you may want to give some consideration to the following items that could save you money:
- Building in a flood zone will cost more. When you build a new home in a flood plain, the home has to meet a particular set of building requirements to prevent damage during a hurricane. At a minimum, the building has to be elevated above the 100 year Base Flood Elevation (BFE), which means you may have to build up the ground that the house will be constructed on to prevent flooding inside the house. You will also have to obtain an elevation certificate, and purchase flood insurance from FEMA each year.
- Building on a lot that has or had a house on it may be cheaper than a lot that has never been developed. You can save thousands of dollars in impact fees if you buy a lot that has been grandfathered in already. You may also save thousands of dollars in water and sewer connection costs if your lot already has a water meter or a functioning well and septic system. Even if the lot has an old house that needs to be removed before you build, the demolition cost may not be as much as you think and you could still end up ahead in the long run.
To learn about more ways to save money when choosing a lot to build on, contact the experienced builders at All State Homes.