What location is right for us?

Determining the right location for your future home begins with an honest discussion about what’s important to you, your family, and the lifestyle you lead. Some questions to ask yourself include:

1. Is the commute to work manageable?
2. Is the nearby school district right for your family?
3. What non-work activities (gym, hobbies, church, etc.) are important, and are they near this location?
4. What’s the minimum number of acres needed for your family?
5. Do you want a rural location or to be closer to town?

Before you begin your research, prioritize which of these are most important to you. It’s wise to choose an area that meets your needs now and in the future.

Will this home site work for the home we want to build?

Once you’ve chosen the area where you want to live, the next step is to identify the home site options that are best for you. Not every site will be ideal for building your dream home. Is the style of home you want to build more important to you than the home site? For example, if you want to build a home with a walkout basement, choosing a property that is mostly flat may not be ideal for the style of home you want. Your builder can help you with making sure the home you want is possible on the land you are considering building on.

Is our dream home affordable in this location?

There are many reasons why a particular location could make your dream home unaffordable by adding costs that would not be factors at another location. This is where you will need to do your homework with the local governing bodies. Questions to ask include: 

1. Are there zoning restrictions on the type, size, or style of home you want to build? Check with the township/sellers to determine if there could be potential issues.
2. Are there access issues to the property or to where you are considering building a house on the property? The township can help provide an answer.
3. Are there restrictions due to environmental concerns, such as water on the property, that may result in additional costs or restrictions?
4. What site improvements will be needed to make the property suitable for construction of a home?

Does this home site have access to necessary utilities?

With the help of your real estate agent or builder, you will need to determine what needs to be done to bring utilities to the property.

Things to consider are:

1. Does the property have access to electrical power? If not, what would it cost to get it connected?
2. How do you plan to heat your home? Will you use natural gas, propane, electric, a heat pump, or another system? What costs are associated with getting these systems installed? Will you need to heat anything in addition to your home such as a pole barn or other structure?
3. Wil you need to dig a well for water? Where is the water table in the area and what depth of well will be required?
4. Will you have access to a local sewer system? If not, what type of septic system will you need? Does the property present any obstacles for installing a septic system where you plan to build your home?

Did you consider the homes/properties around you?

Many buyers spend a lot of time analyzing the property they are considering purchasing for a home site and too little time considering how the dynamics of the area could impact their experience. Just because the property you are considering purchasing is currently undeveloped doesn’t mean it won’t be in the future. If an adjacent property is a prime location for a new subdivision or apartment complex, would you still want to build there? Before purchasing, it is good to look at the property several times and at different times of the day or week to get a feel for the level of activity surrounding the home. If you can speak with residents in the area, that can help provide additional context as well.

Working with a lender who understands home site financing is important and will ensure the process of financing the site of your future home goes smoothly. GreenStone offers both home site financing and home construction loans, making it possible to build your dream home on your dream property! Contact your local GreenStone branch to learn more about the home financing options available to you.