New Home Tips, Trends, and Ideas - Raleigh Custom Home Builders

How to Buy a New Home Lot in North Carolina

Posted by Penny Hull on Mon, Jul 10, 2017 @ 13:07 PM

What is the Process to Buy a Lot for New Home Construction in NC?

Get the inside scoop on how to build on your lot in NC - with tips from custom home builder Stanton Homes.

We'll give you some very important questions to ask your Realtor, Custom Home Builder, and, most importantly, YOURSELF!

On Your Lot Builders | How to Buy a New Home Lot in North Carolina



Top Questions to Ask when Researching "On Your Lot Home Builders":

Building a new custom home can be easier than you think.  There are beautiful homesites - or "lots" available in new home neighborhoods and outside communities throughout the greater Raleigh Triangle area.   Here's how to get started.

Question 1: How much should I pay for a Lot? 

How much should I pay for a lot for my new Raleigh custom home?

Yes, the price you pay has a lot to do with location – but size, amenities and buildability are also important considerations. Custom home builders in Raleigh can offer guidance, but it’s really all about what’s important to you.

You’re going to have to prioritize, as you make choices. 

The Triangle area of North Carolina - consistently ranked as the "best place to live" on national surveys - has been growing for several years. Areas such as Cary, Raleigh, Morrisville, and Apex have been hugely popular for a long time - making lots more available and affordable in the surrounding areas (just minutes away in many cases) such as Fuquay-Varina, Hillsborough, and Garner.

On Your Lot Builders | How to Buy a New Home Lot in North Carolina

Question 2: What's my budget, and why do On Your Lot builders need to know, up front?

When building a custom home on your lot, there are really two budgets to consider.

1 - the home, itself

2 - the land you want to build on

If you're looking for help finding a lot, your home builder will need to know your general budget, to help guide you to choices that match the most common requirements of, for instance, your bank loan appraiser.

As a general guideline, the cost of your lot or land should be no more than 15-20% of your total "house and land" budget. 

$150,000 total budget = $22,500 to $30,000 lot or land cost

$200,000 total budget = $30,000 to $40,000 lot or land cost

$300,000 total budget = $45,000 to $60,000 lot or land cost

$400,000 total budget = $60,000 to $80,000 lot or land cost

$500,000 total budget = $75,000 to $100,000 lot or land cost

The formula can change a bit for a large amount of acreage - for instance, you might reasonably construct a home with a $350,000 construction cost on a 10 acre parcel which costs $150K. 

Do check that your planned home corresponds with other homes in the neighborhood/area so that your future resale value is protected.

On Your Lot Builders | How to Buy a New Home Lot in North Carolina

Question 3: How do I know that the price of a lot or land is reasonable?

Talk to custom builders in Raleigh or an experienced land agent about the lots or land you're considering.  That’s where size, amenities and buildability impact the price of the home – as well as its future value.

An experienced land agent will be able to compare your lot price with other lots in the area, and compare the type of home you plan to build with other Raleigh NC custom homes available in the area.

Question 4: What about Property Taxes?

Depending on the specifics of your loan, property taxes may be included in your monthly payment. If it’s set up this way, a portion of the total tax bill is added to your monthly payment each month, then paid to the city or county at the end of the year out of an escrow account. 

You’ll need to ask – because if it isn’t included in the loan, you may be responsible to pay property taxes in one lump sum at the end of each year.  This chart will give you an idea of what kind of taxes to expect on the property for your Raleigh, NC custom home: Guide to Raleigh/Triangle Property Taxes

Property taxes outside city limits will always be lower than taxes inside city limits.  As an example, Chapel Hill has some of the area's highest property tax bills. Outside the city limits, Chatham County has some of the lowest property tax rates in the Triangle. Raleigh’s property taxes can vary, depending on location.

On Your Lot Builders | How to Buy a New Home Lot in North Carolina

Question 5: Why do I need to get preapproved?

It is always a smart idea to have a financial institution appraise what you can afford to build.

You’ll have to have a bottom line in mind before you even begin to look at lots and land upon which to build your Raleigh NC custom homes.

If you don’t have a lender in mind, ask a custom builder in Raleigh for recommendations. Contact us for a list of local lenders experienced with lot and land financing - there are plenty of great options available.

Talk with financial professionals about your total "construction and land" affordability.  Here are the questions you’ll need answered:

- What monthly payment can I afford?

- What total amount do I qualify for?

- Will my payment be affected if interest rates increase?

 

Contact Stanton Homes at 919-278-8070 or send us your questions, here, and we'll help you learn all you need to know about the On Your Lot Building Process.


 

Tags: build on your lot nc, build on your lot, NC build on your lot builders, on your lot builders, how to build on my lot

Choosing a home plan that fits your lot | On your lot home builders

Posted by Penny Hull on Thu, Aug 01, 2013 @ 06:08 AM

How to choose a floor plan that suits your lot

Tips from NC On Your Lot Home Builders

One of the top reasons to build a custom home is the freedom to choose a home plan that suits your lot, and create a home that's perfect for the place you want to live.

But before you fall in love with a floor plan, talk to "on your lot home builders" about your lot or homesite - and keep in mind that the characteristics of your lot can dictate what you can build there - from your building envelope to the spot where your home will sit, the type of layout that it will be able to support, and the architectural elements you can showcase.

For example, hillside lots are great for daylight basements, so choose a builder and a plan that can take advantage of the view, like the Treehouse - pictured here.

On Your Lot Builder | Custom Homes Built on Your Lot

 

Here are six things to keep in mind when you choose a plan that will fit your lot. (Or choose a lot to fit your plan.) 

1. Look at lot size and dimensions. Choosing a home plan that suits your lot starts with knowing the shape of your lot - it can determine the shape of your home, as well as where it will sit. The length and width of the lot can serve as as a general guideline for on your lot home builders. For instance, a skinny, long lot may require a narrow house plan or a front-entry garage.

A good example is the Amazing Grace, specially designed to fit into a very small footprint, with a creative approach to including a main floor master, formal living, family room, and first floor office.

And the Cove was designed for a lot with special requirements that determined the shape of the home.

2. Determine the features you need. Are you looking for house plans designed with universal living, accessibility, or aging in place features in mind? These kinds of requirements can work best on a single level - so a good question for an on your lot home builder is whether a lot is suitable for a one story home. If you have to build up, you could be looking at the need for an elevator (like the elevator inside the home pictured here).

On Your Lot Builder | Custom Homes Built on Your Lot

3. Take advantage of natural topography. Soil conditions in North Carolina allow for daylight basements as long as there's a slope on the lot (ask us for more details about building a basement home in North Carolina).

For example, the Penelope was designed to maximize square footage on a lot that was perfect for a basement - and designed for a drive-under garage with a driveway that stretched out to one side.  

 

 

4. Showcase natural features.  Take advantage of all the reasons you choose to build in a particular environment  - such as a wooded, hillside, or lake front lot - with a floor plan design that maximizes the visibility and utility of your natural surroundings.

For example, the Kelley was designed with a full wall of windows to take advantage of the golf course view.

NC on your lot home builders such as Stanton Homes analyze your building site before they complete your design, to ensure that special aspects about your location are taken into consideration in the custom home that you create together.  

5. Find inspiration and get creative. When you're choosing a home plan that suits your lot, check out custom home ideas on websites such as Pinterest and Houzz. You'll see photo galleries of our custom home projects that can serve as a starting place for a conversation about your own design. You might be surprised at how much already comes with your home, without having to do any upgrades. And you can almost design your floor plan yourself, with the help of our architectrual and interior designers. Bring us photos of homes you like, and ask if we can create something similar. Ask us to walk your lot and provide our builder's perspective about the kinds of plans will work best - we'll inspect your lot at no cost to you.

6. Think through the details. If you'd like a sunroom, on your lot home builders can determine your home's orientation, so you'll know how much sunshine to expect in that location. If you think you might want to expand your living space later, ask the builder to help you prepare for future changes - whether you're considering building onto the home, itself, or adding something such as an in ground pool. Tell us what you envision, and we'll help you create the environment you're looking for, with a plan that fits your lot, your location and your lifestyle.

Contact us here for more great tips about choosing a home plan that suits your lot, and create a home that's perfect for the place you want to build.

 

Build on Your Lot in the Raleigh Triangle Area

Whether you’ve already purchased a lot you love, want to build on family land, or are considering available lots, Stanton Homes’ custom build process includes an on-site assessment of your floor plan to your homesite, with our builder perspective on what to expect for site work. Learn more about custom home lot assessments, here.

On Your Lot Builder | Custom Homes Built on Your Lot

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