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How To Take Advantage Of Low Mortgage Rates And Not Get Burned
Bargain mortgage rate shoppers are on a refinancing spree. Many have secured unbelievably great deals. Others have gotten caught up in the frenzy and got the short end of the stick. How can you refinance your home without getting burned? Last...

Our Kids and Their Money
When I was a kid, I can't believe that was almost 50 years ago, my folks used to give me a nickle, dime or sometimes even a quarter to go to the corner store. When I got that money I had to go directly to the store and make sure every penny was ...

What To Pay When You Can't Pay Everything
What To Pay When You Can't Pay Everything By Terry Rigg With ever increasing consumer debt more of us are finding ourselves robbing Peter to pay Paul each month. We go through our bills and find that the money just won't stretch far enough to...

You Want to be a Stay-At-Home Parent
The subject of stay-at-home parenting is touchy, and emotionally tangled up in a maelstrom of emotion, advertising, society pressure, culture demands, and personal beliefs. When you have a mixture of that many ingredients swirling around, the result...

Your Checking Account
Checking accounts are an absolute necessity these days. You can either have a checking account or run to the bank or other outlet for money orders. Many people pay for almost everything with a check including groceries, gas, clothes and a long...

 
Choosing a Residential Lot

Finding a lot

Planning for your new home is a very involved process. You might want to get right down to selecting a set of house plans but don't get into a hurry. It is almost a ccertianty that the design of your new home will be somewhat determined by the lot you choose. This is why it makes sense to select the lot for your new home first, before you start the design process.

The lot you select for your new home should compliment your lifestyle or social habits. It should also reflect your financial situation.

Considering the length of commute from your new lot to your place of work. What is the maximum distance that you are willing to drive to get to work? The location of schools, shopping and emergency services may also be important in deciding where to build your new home.

Types of Building Lots

There are several different types of building lots and choosing oneis simply a matter of personal preference, finances,and your lifestyle.

Urban lots are of course those within a town, city or manicupality. An urban lot can often cost more then one in the suburbs or acreage. Here in southern British Columbia a lot can easily cost you $50000 especially in a major center.

You should be aware of services such as water, sewer, gas and hydro. Knowing where these services come into the lot is essential for determinng the cost to bring these services into your new home.

It is important for you to know if there are and building restrictions or requirements that need to be followed. It is better to know before you get into the planning and design process.

An alternative to the urban lot would be to get a lot in the suburbs. The main difference between the two would bethat a suburban lot is usually more private and larger then an urban lot.

Depending on where you live the cost will vary in comparision to an urban lot. In Kamloops BC a lot in the city is comparible in price with a suburban lot considerably larger in


size.

Some lots in the suburbs are able to hook up to city sewer and water but not always. Additional cost can be added to have a well built and a septic system installed. A septic system will require that you perform perculation test on the soil to determinAe the drainage capability.

A suburban lot will almost definatley mean a long commute to work and shopping. Most people find this a worth while trade off for the added privacy a lot in the suburbs can provide.

The third alternative would be acreage. A plot of land 1 acre or larger gives you the freedom to build your home where you want plus you have room to build different outbuildings auch as a shop or storage sheds.

When building on acreage it is almost a certainty that you will have to install a septic system and a well. This added cost needs to be factored in when determining overall building costs. If you plan to build your home more than 40 or 50 meters from the hydro service then the installation of hydro poles will also need to be considered.

Depending on your needs one of these 3 types of lots will be chosen. The main factor that will determine the lot that you get is price. Obviously you can't get a lot that is outside of your financial capabilities.

Once you have determined which lot you want to build your new house on it is simply a matter of arriving at a deal with the property owner. With the lot purchasedyour existing home can be put on the market and you can start the process of designing your new home.

About the Author

Dave Markel is the author of "The All Wood Working Journal". He has helped hundreds of individuals improve their wood working skills. Visit his site at http://all-wood-working-plans.com. Subscribe to the All Wood Working Journal at http://all-wood-working-plans.com/wood-working-tips.html


 

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