It's a thought. My step dad is an architect and has offered to design it, but this is our first home and we would like to save. The entire process even without building our own home would around $1.4mm, and we want to keep some money in the bank.
Anyone Ever Bought Land and Built a Home on It?
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It's a thought. My step dad is an architect and has offered to design it, but this is our first home and we would like to save. The entire process even without building our own home would around $1.4mm, and we want to keep some money in the bank.
Not an option, I don't want to see a single neighbor if I don't have to. I've been living in apartments for the last 15 years and I am tired as hell of it.
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Realtors get the commission from the seller not the buyer, so you can have one represent you for no cost... But by all means, make your decisions from Sherdog.So I live in California, my wife and I are recently married and are looking into buying a home in the Bay Area. We were thinking about buying land and then placing these two (or something similar style homes on it) with the first image being the main home and the second being the in-law unit:
Anyway, is there any recommended reading or information? I don't even know the first thing about buying the land to make sure it's right for permits, make-ready site work, etc. I'm not even sure where to start in the process. We were thinking about starting with the "...for Dummies" series, as I don't personally know anyone else that's done this.
Thanks for any information you can provide!
This scenario is valid, but only represents the relationship between the seller's agent and seller.
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Pretty common here in Australia, if you go it yourself totally it is called "owner building" where you take responsibility for the building license, indemnity and coordinating. Sounds less common in the states.
Your building codes are different, but this may be a good start for the process overall.
http://www.vba.vic.gov.au/__data/assets/pdf_file/0004/48019/Owner-Builder-Study-Guide.pdf
http://www.tyrrells.com/LiteratureRetrieve.aspx?ID=121391
If you intend to build a seperate liveable dwelling for the inlaws (called a granny flat in Australia), make sure the zoning will allow 2 dwellings (ie your house, and their "house") on the land/title.
Google is your friend. Should be heaps of literature online for you in your area.
Your building codes are different, but this may be a good start for the process overall.
http://www.vba.vic.gov.au/__data/assets/pdf_file/0004/48019/Owner-Builder-Study-Guide.pdf
http://www.tyrrells.com/LiteratureRetrieve.aspx?ID=121391
If you intend to build a seperate liveable dwelling for the inlaws (called a granny flat in Australia), make sure the zoning will allow 2 dwellings (ie your house, and their "house") on the land/title.
Google is your friend. Should be heaps of literature online for you in your area.
I think French drain and gutters are probably a necessity. Also, complying with stronger states' building codes for stronger house to survive storms better. The news suggested cement walls and metal beam ceilings.
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Are you serious? The seller sells at a higher price to cover the realtor costs. WTF do you think drove housing prices up?
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Sellers and agents set the price before the home ever goes on the market. If they thought they could save 6% and sell it themselves for cheaper they would fail. Its called a FSBO and they don't make as much as a regular listing.There are three types usually, FSBO = 0% commission. 5% and 6%. If people could sell at
Supply and demand, improving economy, better returns than the stock market. Do you know how economics works? Its all speculation.
Edit, are you really implying that realtors are the reason home prices are so high (went up 60% since 2008?)
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This is correct, the price is set 3% for the buying agent and 3% for the selling agent. But if as a buyer I look on the website, call, then drive myself to the property (which is pretty much all realtors do on the buyer end). I can offer the seller a 3% less and they will still get the same amount of money in their pocket.
The real estate lawyer is the person that deals with all the legal issues and can guide you through the system easily.
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All due respect to Sherdog, but I don't think you're going to find many folks experienced in buying land in the Bay Area and building their own homes.
If you have that much money to invest on such a project you should probably just consult the professionals.
If you have that much money to invest on such a project you should probably just consult the professionals.
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I've built the house on my dad's land he bought.
It's in the UK so I can't tell you much.
I did all the work. Took 5-7 years.
My best advice is to hire a project manager with a proven track record. Don't do it yourself. That will speed it up 100% and make it way cheaper in the long term.
Otherwise, choose building methods on basis of cost first.
It's in the UK so I can't tell you much.
I did all the work. Took 5-7 years.
My best advice is to hire a project manager with a proven track record. Don't do it yourself. That will speed it up 100% and make it way cheaper in the long term.
Otherwise, choose building methods on basis of cost first.
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Bought and built. started 7 years ago, still doing it now. I acted as the general contractor, but i had assistance from my dad and a family friend in construction. Your designs are far different from my house, but i live in Canada, and it looks like you are spending a lot more than i did.
What i like:
i got what i wanted
I saved money
It was fun
My Garage. its uge
What i don't like:
There are things i wish i had done differently (you almost need to build at least twice to truly get what you want)
I wish i had gone bigger (raised bungalo, 1875sq main floor with a basement the same size)
some regulations i didnt pay enough attention to and some decisions i made because of that are restricting some of the things i can do.
I'm still building, and i'm getting a little tired of it.
Would i do it again? 100%
Would i let my parents or my in laws live on the same property? 100% no
What i like:
i got what i wanted
I saved money
It was fun
My Garage. its uge
What i don't like:
There are things i wish i had done differently (you almost need to build at least twice to truly get what you want)
I wish i had gone bigger (raised bungalo, 1875sq main floor with a basement the same size)
some regulations i didnt pay enough attention to and some decisions i made because of that are restricting some of the things i can do.
I'm still building, and i'm getting a little tired of it.
Would i do it again? 100%
Would i let my parents or my in laws live on the same property? 100% no
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200 acres, 50-100 acres tillable, with a modest 800-1000 sq ft home with a wood stove for heat... my dream.
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I work in the title industry and have closed dozens of land purchases and then later handled the construction financing. You have a big process ahead of you.
First, picking the land that you are buying. You'll need to get with the zoning board in regards to requirements there. Typically, the seller will have a lot of the leg work done prior to listing for sale. Keep in mind you aren't dealing with just zoning, but also deed restrictions or covenants. Septic, utilities, road access, etc. are several things you need to look into.
Second, actually buying the land. Are you financing? You'll need to think for the future if you plan to finance the improvement. You are going to have a lot of details to work out there.
Third, budgeting. Every single person that I know that has built says that it costs a lot more than you expect. When it comes to all of the details, there are a ton. A lot of people don't property budget for landscaping, sidewalks, etc. You really need to look at the big picture.
Fourth, getting the contractors there. Between building the house and all other details, it's an insane amount of scheduling. You have your septic guy, your electrician, plumber, contractor, etc. Expect delays.
My final comments on it: I would never build unless it's something very custom and long term. A lot of people lose money on it. I've seen marriages fall apart from it. I see houses that never get finished before they run out of money.
First, picking the land that you are buying. You'll need to get with the zoning board in regards to requirements there. Typically, the seller will have a lot of the leg work done prior to listing for sale. Keep in mind you aren't dealing with just zoning, but also deed restrictions or covenants. Septic, utilities, road access, etc. are several things you need to look into.
Second, actually buying the land. Are you financing? You'll need to think for the future if you plan to finance the improvement. You are going to have a lot of details to work out there.
Third, budgeting. Every single person that I know that has built says that it costs a lot more than you expect. When it comes to all of the details, there are a ton. A lot of people don't property budget for landscaping, sidewalks, etc. You really need to look at the big picture.
Fourth, getting the contractors there. Between building the house and all other details, it's an insane amount of scheduling. You have your septic guy, your electrician, plumber, contractor, etc. Expect delays.
My final comments on it: I would never build unless it's something very custom and long term. A lot of people lose money on it. I've seen marriages fall apart from it. I see houses that never get finished before they run out of money.
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Yes I've seen it happen. A realtor offers free market analysis as to what your home would sell for. People get the analysis and decide that if they can get that for their home they would sell it and list it. Then the realtor gets them looking at property to replace the one they're selling. Sellers find the new home to buy but haven't sold their house yet.
The realtor talks them into buying the new property assuring them that theirs will sell sooner if it's empty. They buy the new home, their old home doesn't sell so the realtor talks them into reducing the price several times as they really need the money to afford the new home. Finally they sell the original home for a price that they never would have considered in the first place. Saddled with more debt than anticipated they can't enjoy their new home or even buy furniture for it. Banks gave out loans expecting the values to keep rising.They hang on but wished they had never sold the first one. I know a lot of people that got caught up in that who ended up losing their homes and marriages. People just left their homes.
My parents had their home price checked by a realtor who told them it was worth $50k more than it was. They had considered downsizing but didn't.
Realtors also got builders to build high end homes that didn't sell and many of the builders went broke. Of course the realtors didn't have any of their money tied up in the houses so they made money selling houses at a loss.
Others waited to buy until they sold their home so they didn't get caught.
I have so many crooked realtor examples that I could write a book.
I get that, but I figure the more diverse experience and advice I can garner before I approach paid professionals, the better off I am having a frame of reference.
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Had a buddy who tried this in Riverside County out by some land that was close to the National Forrest land. He bought the land and he and family lived in an RV while they worked through the permitting process. Turned into a giant cluster fuck and they ran into huge problems with the water and well issue.
They ended up having to sell the land (12 acres) and get an adjoining property with a house on it already cause it was way too much of a headache to try and go through all the hoops.
Upside was there new place is absolutely badass, on 9 acres and has a pond, barn and some great useable land.
So my advice is definitely find out what needs to be connected, what permits are needed and cost associated with it because it piles up quickly.
They ended up having to sell the land (12 acres) and get an adjoining property with a house on it already cause it was way too much of a headache to try and go through all the hoops.
Upside was there new place is absolutely badass, on 9 acres and has a pond, barn and some great useable land.
So my advice is definitely find out what needs to be connected, what permits are needed and cost associated with it because it piles up quickly.
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You're not going to build something like that around the bay area buddy. Enjoy your farm in the cornfields near Sacremento or even better go join the Diaz bros in Stockton. You're probably better off moving out of California. Save the land for the hippie marijuana growers who don't want you and your yuppie wife around.
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Probably best to find a experienced realtor on this and a general contractor or company such as blu homes, method homes etc. What area specifically are you looking? Outskirts of the east bay or prime location?
