No matter where you live or plan to settle down, finding your dream home can be a challenge. You’ve meticulously combed through listings and frequented open houses. In spite of your efforts, odds are that the options still may not quite fit the bill. Your vision for the ideal house may not have been built yet! Even if someone else hasn’t come up with the same idea as you for the ultimate dream home, that doesn’t mean that it can’t exist. Quite the contrary, we’d say! Fortunately, you can turn your dream into a reality by building a house on vacant land. And what’s even better is that there is plenty of land in North Carolina for sale. Options abound here. Secure your piece of mountain land as you take your steps towards an idyllic place to call home. There’s never been a better time.
Stunning Land for Sale in North Carolina
It is no secret that North Carolina is anything but short on supply of absolutely breathtaking, stunning property choices. The NC real estate market is booming as both locals and newcomers to the state gravitate towards the charming life of mountain country living. However, before you start putting in those workplace resignation letters and planning for your relocation to a new life in the High Country, you’ll want to keep in mind the road that lies ahead towards land ownership. There could be some pesky surprises for newcomers to the process of buying land. With issues in mind such as zoning restrictions, easements, and much more, it’s always better to be prepared. We believe that knowledge is power! So, we have created a helpful list of top tips and best practices for securing your land in North Carolina. Let’s take a look!
Top Tips for Buying Land in North Carolina
There are plenty of phenomenal, move-in-ready mountain houses for sale in North Carolina. But if you’d like to personalize your purchase and bring to life your vision of the perfect home, owning your own piece of land grants you quite a lot of opportunity for creative freedom. Regardless of whether you’ve always aspired to owning your own little plot or realized that it would be your best option for building your final family home—let’s take a look at some of our recommended steps and tips for the process. With these points in mind, you are sure to secure your property investment in a safe, stress-free, and prepared manner.
- Be honest about your budget. Understanding what you can actually afford is critical in making the best long term decision as you shop around. If you are weighing the idea of financing, you might want to consider becoming prequalified for a loan. This equips you with a deeper understanding of how much a bank will lend to you, as well as what you’ll need for a down payment. Further, pursuing prequalification allows you to accurately gauge your purchasing power and what you can offer to property sellers. Be careful as you plan, though! If your vision for your custom-built home includes a barn, pond, fencing, and/or other features, you need to factor those costs into your budget. It would be quite unfortunate to purchase a piece of land, only to later discover that you do not have enough cash remaining to invest in those additions and extras.
- Do your research on the process of securing a loan. We’ve already mentioned that we believe that knowledge is power, and it is certainly the case here! For individuals new to the process of securing a loan—whether for land or a mortgage—they may not realize that there are actually quite a few steps involved. Consider the following: you’ve got the initial application, followed by a timetable for approval or denial of your request. Assuming you receive approval, then you have the steps revolving around appraisals, title searches, and the actual closing. Phew! That’s quite a lot. As such, we would strongly advise taking some time to weigh your options and do some digging. In order to make the process of acquiring a loan go as smoothly as possible, we’d recommend the following two things.
- Make sure all of your financial documents are accessible when you start planning to submit an application. These documents will include things such as tax returns, bank statements, and the like. If you’re unsure, just ask the lender!
- Make sure you have enough cash for a down payment. Although it is not a hard and fast rule, property loans for land purchases more often than not will require a down payment between 15%-25%. Assuming you’ve got all of your finances and paperwork in order, the process should be quick and smooth sailing. The general time frame between submitting an application and closing should not take more than roughly 30-45 days.
- Prioritize using a lender who has experience in land financing. While this is not an absolute necessity, we think it is important to find a lending agency that specializes in this particular area of loans. This is due to the fact that terms and rates for land loans can be quite different from mortgages. Utilizing a lender with a deep understanding of the differences and that possesses a general knowledge of land lending will ensure that you don’t encounter any unexpected hiccups or surprises. Set up for success in acquiring that dream plot of land, and don’t settle for just any lender. Shop around and ask questions, so that you can have the greatest likelihood of a stress-free borrowing experience.
- Prioritize a real estate agency that has experience in land real estate. Our thoughts on this are quite similar to the aforementioned points regarding lenders. Purchasing land is not quite the same as buying a home. While any realtor can help source options, not all agents are same in what they can bring to the table. Using an agency whose team has navigated land purchases in the past is likely better equipped to uncover red flags. They also are typically better able to negotiate an offer that suits your needs. Additionally, agents with a background in this type of real estate have a deeper knowledge of the varying markets. This will allow you access to a better resource that can gauge land values, so that you don’t end up overpaying.
Lay Roots in North Carolina with Our Realty Experts
When it comes to buying land, there certainly are a lot of things to keep in mind. Fortunately with our list of top tips and best practices at your disposal, you should be better equipped to navigate the murky waters of purchasing property! To add an even more significant level of clarity to the process, we cannot emphasize enough the value of tip #4: using a knowledgeable realtor with experience in land real estate.
At Century 21 Heritage Realty, our dynamic team has helped many clients find their perfect commercial, residential, and/or land property! We know the value of working with someone who understands your needs and translates your goals into a tangible outcome. We value transparency and honesty, which is why we’re considered one of the best realtors in West Jefferson. If you’re ready to stop dreaming about building your house and actually take steps towards finding the best land for sale in North Carolina, Century 21 Heritage Realty is ready to help.
Don’t wait any longer. Get in touch with our team of land real estate agents today! Our experts are eager to connect your goals and desires with what is available on the market. Are you ready to see the top land listings and work with the best? Terrific! We invite you to give us a call at 1-800-865-4221. If you’d prefer to correspond through email, you can conveniently reach us at firstname.lastname@example.org. We can’t wait to work with you!