Custom Homes Raleigh NC
How to Buy a Lot - Step 5
What Will The Total Cost of the Home Be?
How to Make Sure You Can Afford to Build Your Home Here
Buying a lot or land for your new custom home can involve some big decisions! By following these five steps, you'll find the right location, something that fits your lifestyle and your budget, with the beautiful surrounds so common in the Raleigh area.
How Much Will the Total Construction Package Cost?
All lots and land under consideration will be some combination of location, size, amenities, cost, and buildability. As you begin to narrow down your options, you may decide that some factors are more important than others.
Building the Same Home Can Cost More on Some Lots
Don't worry, a good builder will work with you to make sure you're aware of any incremental costs involved in one lot over another. At Stanton Homes, we provide a full cost comparison of your favorite lots or land, with these types of factors all considered:
Sewer or Septic - Building Costs
Sewer fees can vary considerably, from $1500 in some locations to $7K or more in Cary NC. If a septic is required (which is very often the case in North Carolina, especially on lots over half an acre), cost can vary from about $3500 to more than $10K.
Your builder can obtain a copy of the improvement permit and provide an accurate quote for septic or sewer costs. A lot with a lower upfront cost may have some higher "site costs".
Water or Well - Building Costs
The cost of providing fresh water for your home can vary. Community water fees can be $500 or less. Water hook up fees can vary from less than $1000 to more than $7K. And a well can commonly cost anywhere from $5K to $8K. Many times fees are dependent on the size of the home. Your builder should factor in hook up fees, trenching, and any additional permits.
Development - Building Costs
If the lot or land listing notes "water nearby" or "sewer nearby", you'll want your builder or land agent to find out what "nearby" means. Even if the pipes are in the middle of the street rather than on the edge of your lot, there will be extra cost to pay for the city or county to come out, dig up the pipes, extend them to your property line, then charge to "tap" those lines for your home.
Permits and Fees - Building Costs
Each city and county has their own list of permits and fees. Your builder should be able to provide an estimate specific to the exact location or locations you have in mind. Permits and fees depends on the location of the home, as well as the size of the home, based on total square footage (heated and unheated, including covered porches and garages).
Clearing and Lot Preparation - Building Costs
The lot conditions will affect the cost of your new custom home. A sloped lot will require additional foundation work.
A heavily wooded lot will need additional equipment to clear enough room for the home to be placed.
A very large lot may require additional driveway. Talk to your builder about where you want your home positioned.
Most of these costs can be estimated with a site inspection.
It's Really Not That Scary!
A good builder will provide a full breakdown of all costs involved in building your home at a particular location. But make sure they are aware of exactly where you'd like to build, and make sure they are willing to guarantee their costs.
A lot or piece of land with a lower price tag may have some higher building costs, particularly in sought after areas like Cary, North Raleigh, Chapel Hill, or Holly Springs. Just ask your builder or land agent to help you do your research, and you'll be confident that you're making a great decision.
If this sounds overwhelming - don't worry! At Stanton Homes, we work to provide you with all the information you need to make a good decision, including free lot inspections, research on your lot, and much more.
Just contact us or call 919-278-8070, and we'll answer any questions you have about how to buy land and make sure you can build the custom home you're looking for on your lot.
Five Easy Steps to Finding the Right Lot or Land for Your New Raleigh Home
Don't worry, at Stanton Homes we help throughout the entire process of finding a lot or land and building your new custom home, and are here to answer any questions you may have.
Buying a Lot or Land Step 1: What's Your Budget?
Buying a Lot or Land Step 2: What Amenites Should You Consider?
Buying a Lot or Land Lot Step 3: Determine Your Lot Size
Buying a Lot or Land Step 4: Is Your Lot Buildable? How Do You Know?
Buying a Lot or Land Step 5: What is the Total Construction Cost for Your Lot? (Avoiding Hidden Costs)
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Copyright Stanton Homes 2012. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any claims. Buyer or buyers agent to verify all information before purchase.
New Custom Homes in the Raleigh Area - and throughout central North Carolina
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Call 919-278-8070 to find out more about new homes in the Raleigh area.