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Buying Land and New Construction >Lot Location If you are buying land on which to build, you may be eager to get started. But before you leap into buying land, remember that location is the one essential element you won't be able to change. You will never regret taking the time to fully consider the setting for your home.
Make a list of the must-have features that will exist on your ideal piece of land. Do you require a lakefront property or a spectacular view? If privacy is high on your list, you may want to look for land that is heavily wooded, or purchase secluded acreage in a rural setting. Decide on the minimum size lot that will work for the setting of your home. Are you willing to build on a slope or a hillside? Knowing your requirements will help your real estate agent save you time by eliminating unsuitable properties.
Select two or three of your favorite neighborhoods and ask your agent to concentrate the search for land in those places. If you are building in an area you are not familiar with, drive or take walks around the neighborhood and talk to people who live there.
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| Q |
What economic factor can make the purchase of a home an excellent long-term investment?
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| A |
Home price appreciation can result in a substantial return on the buyer's investment as a house increases in value over time. |
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