8 Factors to Consider Before Buying Land to Build Your Home
In this time of economic recession one major challenge that people, especially those in the cities battle with is their rent. The thought of a phone call from landlords or agents has led many to developing high blood pressure.
I know you have been thinking of building your own house. I know you are fed up of having to give excuses and explanations to your landlord all the time because of rent. I also know that the times are hard; the economy is at a slow pace.
Building your own house is good as it takes certain responsibilities away from you. It is a major achievement in some parts of the world when you move into your own home. But I would want you to consider some factors before embarking on your new home projects.
Given below are 6 factors to consider before buying land to build your home.
1. Knowing a genuine land / owner
This is a major reason why many have ignored the thought of buying land to embark on building projects. The stories of litigations over lands that saturate the space are enough to discourage many from giving thoughts to buying land to build their own dream home.
The world has always witnessed the existence of good and bad. Everything that is good always has its bad version. Our ability to identify the good at all time is what makes us a winner in the game of life.
It is not every land that is offer for sale that is not genuine and vice versa but whatever the case may be the buyer must ensure that due diligence is observed. Desperation should be avoided when trying to buy land for any projects.
Fraudsters often take advantage of the desperation on the part of the buyer to dupe them of their hard earned money. Take your time to ask the necessary questions and ensure you get the right answers before making any commitment.
Where you are not satisfied, seek help from professionals. To be candid, do not ignore professional counsels in all your land dealings. Do not be penny wise pound foolish! Where you may need to spend money for professional services do not take it to be waste of resources.
2. Proximity to major road and highway
It could be frustrating sometimes when your abode is not easily accessible to friends and family. And a situation where you have to spend several hours to get to the major road in your town/city could impact negatively on your health.
Precious time can be saved when your land is not far from the major road and highway in your location. This can impact positively on the time spent on daily activities and engagements.
Thoughts like the nearness of the land to the major road around and the major highway in the city are crucial when thinking about buying land for home projects.
3. Proximity to office or place of work
That you have become a land lord is not a reason why your work or business should suffer. This is an important factor to consider before embarking on a building project. I have seen people who have to abandon their business in the city because they moved to their own house in a remote part of the state.
Therefore they would not be able to make money the way they have been doing before becoming a landlord. Houses that are in far remotes areas could be let out pending the time the owners would be buoyant enough to shoulder the challenges of living there without any regrets.
4. Proximity to electricity
Electricity is an essential factor to be considered when planning to build your home. Running a home without access to electricity could be very costly and frustrating. It will impact negatively on your budget. It may even impact negatively on your health.
It may not be readily available in your proposed estates at the time of buying the land but it should not be far from its vicinity. The cost of installing electricity to the site should however be friendly and easily affordable if it is to be installed in a short time.
5. Proximity to telephone / internet networks
The world today revolves around technology, and telephone and internet are major drivers. However it is not unlikely that these services are yet to be operational in several places.
Living in areas without telephone and internet access is like living on an island. In this global village that we live you will do well with good telephone and internet access without which you are not accessible, and cut off from the world of information.
6. Proximity to Bank/ATM
You will always need cash to run your life and home. Especially in an environment where e-commerce is still unpopular and many businesses still rely on traditional method of selling, there will be dependability on cash all the time when you are in your new home.
Unlike in the past when you can keep cash at home for as long time as possible, the current security challenges faced by many countries does not allow the storage of excess currencies at home.
Access to a bank or an ATM would take off the burden of keeping and accessing cash as at when due, because without access to cash one could be stranded in the home. A situation where one will have to travel hours before accessing bank or ATM services should be avoided when conceiving the thoughts of building your own home.
7. Overall cost of building and living in your new home
This is what will determine whether you will be able to build and maintain your proposed home. The cost of land, building, and that of providing basic amenities should be given adequate consideration before embarking on the projects.
It could be frustrating to own a building in a place that is not easily accessible by road. Cost of maintaining cars, providing security and electricity, could make one to relinquish the status of a landlord too soon.
8. Comfort of family and dependents
You will not live in your new home alone. The comfort of those who will live with you in the home should be put into consideration. What is good for you may not be good for your spouse and or children.
It will not be fair to deny your children access to good quality education because you now live in your own home. The impact of the proposed area on their health and emotions should also be of concern to you.
These 8 factors to consider before buying land to build your home if religiously followed will not just save you money but it will also save you from unnecessary stress.
I would like to hear from you also as your opinion can help many of our readers out there. Kindly share your thoughts about this post via the comment box below. And if this post will help someone around you feel free to share to your social circle
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