Summer is a favorite season for so many of us. And for good reason! Considering the longer days of sunlight, clearer skies, and uptick in outdoor activities, what’s not to love? Alongside warmer weather and the tempting call of poolside parties, summer is also a terrific time for transition. A new hairstyle, new job, new car… or perhaps a new home? If ever there was a time to explore your options and cast out your net for opportunity, now would be it! If you’re in the market for a start to the next chapter of your life, consider North Carolina. With an abundance of commercial, residential, and land real estate all around, you can’t go wrong by setting your sights on this great state. Luxury and family home options await you, as well as bountiful NC cabins for sale.
Gorgeous Mountain Cabins for Sale
No matter if you’re searching for a starter home or more palatial living space for the entire family, the options are seemingly endless around here! Particularly within the High Country of North Carolina, you’d be hard-pressed to run out of choices when it comes to purchasing or building the mountain cabin of your dreams. Do you want a wrap around deck? Tons of acreage and land? No problem! There are several log cabins for sale or land ready to be purchased and built upon. Your dream home awaits you within the breathtaking Blue Ridge Mountains.
If you have decided that it’s time to begin scouting out the North Carolina housing market, you may have realized that there are quite a few steps to the process of securing that perfect final home or cabin. Perhaps the current log homes available aren’t exactly the family space you envisioned. In that case, maybe building your home from scratch is the better option. While there are pros and cons to tackling land real estate versus commercial or residential real estate, building from scratch can often allow for more creative freedom in crafting the ideal residence. In the event that you have decided that building is the way to go, you’re going to need to buy that perfect plot of land to (literally and figuratively) lay the foundation for what comes next.
To make the process a bit easier and more straightforward for newcomers to the wonderful world of land real estate, we have compiled this handy dandy list of Dos and Dont’s when buying land in North Carolina. In addition to our previously published list of top tips and best practices for buying NC land for sale, we hope the following bits of advice make your search and purchase as simple and stress-free as possible. Let’s take a look!
Some Dos and Don’ts of Buying Land
Regardless of whether your hope is to erect a lavish retirement house or vacation getaway cabin, finding the best possible piece of land could prove to be a chore. Some vacant lots present heavy restrictions. Others might require quite a lot of work before a foundation can even be laid for building. Either way, this list of Do’s and Don’ts should help quell that desire to impulsively snag the first available piece of land real estate that you stumble upon. Keep these tips in mind, and you can’t go wrong!
Do choose a realtor that has experience with vacant land properties.
We’ve said it before in our previous article on top tips for buying land, and we’ll say it again. Using a real estate agent who understands the ins and outs of land real estate will make a considerable difference in your overall experience. Not only will an agent with a specialization in this area be able to provide deeper insight into market values for land, but they are also better equipped to negotiate prices and guide you through the process of financing. Any real estate agent can show you listings. But not all realtors are created equally! Set yourself up for greater success by adding an expert to your house hunt team.
Don’t assume that you’ll be approved for a loan.
We’ve discussed before the value of shopping around for lenders who also have experience in land real estate loans. We still stand by our thoughts on what a big difference that can make. However, just because you find the right lender does not mean you will be approved for a loan. When combing through land real estate and making your selection, be mindful of having some cash on hand for the down payment. Banks typically cannot leverage a plot of land in the same manner as a home purchase. Keep this in mind! If you have questions, ask your lender before you commit your heart to a patch of land. You might not be able to buy it, so it is better to approach things with this frame of reference.
Do take into consideration the value of homes in the area.
To ensure a greater likelihood of your later-constructed home being the best investment, take heed of this point. You should ideally erect a structure that boasts similar value compared to neighboring houses. Let’s say that you construct a $700,000 dream house in an area where most houses hover between $300,000 and $400,000. The likelihood of you being able to convince future buyers to part with that considerable cash difference is quite low. For further consideration, keep in mind that some lenders might be apprehensive about financing a home at a price point that does not mirror the market values of other homes in the neighborhood. All in all, if your vision for your home investment is rather grand, you will need to be mindful of selecting a space where your neighbors’ homes match the projected value of yours.
Don’t fail to observe the potential of “fixer upper” listings.
This might not be the surefire way to securing the perfect plot of land every time, but there’s something to be said for keeping this strategy in mind. If you’re scouting out real estate in an area where vacant land isn’t bursting at the seams, consider lower cost listings for dilapidated buildings or homes. Oftentimes you’ll find some properties for far less than the actual value of their land. Therefore, you might be better off in some cases by just demolishing the structures and rebuilding.
Do some research on property restrictions & Don’t assume it can be rezoned.
We’ve got a double whammy for you with this one, but it’s arguably one of the biggest matters to consider. When looking at land listings and narrowing down your choices, be mindful of potential restrictions. For example, some areas require a minimum amount of acreage before a house permit is granted. Additionally, certain developments may have restrictions, covenants, and ordinances. These could end up dictating specifications for your home that do not match your end goal at all.
In the case of zones, you may not receive an exception to the rule. Your desire to rezone a property to avoid certain mandates will likely be denied. Therefore, we would advise that you keep your sights on land that doesn’t require these extra hoops to jump through. If you have a home in mind that you’d like to build, it is better to be patient. Find the plot that will allow you to erect your home as you’ve conceptualized from the start. Spare yourself the unnecessary headaches and hit the ground running towards your goal!
Gain Peace of Mind with Land Realty Experts
The journey towards acquiring or building your dream home does come with quite a few hurdles. Prep yourself to be ready for anything with our toolbox of nifty Do’s and Don’ts at your side.
When you’re ready to work with the land property experts in Ashe County, reach out to Century 21 Heritage Realty. Our talented team of agents come with years of experience across residential, commercial, and land real estate. What’s even better is that we are less than two miles from Movement Mortgage. A phenomenal choice for buying, selling, refinancing, and/or building a home, this agency can connect you with a loan officer that will help make the entire process of building that family home even simpler. You can find Movement Mortgage conveniently located at 106 S. Jefferson Avenue Suite 3 in West Jefferson, NC. Once we’ve helped you find your best plot of land, swing on by to Movement Mortgage to discover your financing options. You can also give them a call at 336-283-6339.
Are you ready to seize control over your next home, regardless of whether you’re planning to purchase or build? Don’t hesitate further! Give Century 21 Heritage Realty a call at 1-800-865-4221 to learn more about what we can do for you. We also invite you to email us at email@example.com. We look forward to setting you up for success towards your real estate and property goals.