to buy a correct Homesite?
homesite without any knowledge about it can spell disaster, especially
when you are not clear in your needs and not able to conceptualise your
plan for a home. So, it is always preferable to talk to your banker or
mortgagor first and get to know the trends and facts regarding any homesite.
procedure for buying a homesite may be different from that of buying a
home. Check the market trends and know the per square feet price before
deciding your purchase.
In case your
proposed homesite is not connected to the community water and sewer, then
you may have to make provisions for wells and drainage systems. Besides
this, you may also have to make provisions for road and your driveway.
you can set aside certain amount for such expenditure from your total
money earmarked for purchase of the homesite.
budget does not allow provision for such expenses, then you can cut short
your expenditure ear marked for the proposed building over the homesite.
to the money to buy the land, you need to know more about things such
as titles, water, easements, zoning laws, building codes, mineral rights,
contracts, and so on when you are looking for purchasing home site.
a voluminous information in a short time may not be possible for any individual.
Hence, if you form a group of people who are interested in buying homesite,
then you can make it easy.
the group, be very choosy as all people cannot have common interests at
all points of time. People differ in their opinions and judgements depending
upon the place and time.
Try to form
a homogenous group with like-minded people and with people who are capable
of sorting out issues amicably.
It is always
preferable to buy your land by paying cash and ensure that the cost is
well within your reach. Getting a loan for the initial investment on land
may be difficult, hence try to save money so as to make the payment in
be sellers who may take payments in installments, but the same will prove
to be more costly in real terms. As far as possible try to pay the entire
amount in lumpsum and save those few extra bucks that you might have to
pay as interest.
decide what you want and prioritise them correctly. Never look into the
features that you may not want at all and try to locate a property to
match your set out priorities. Do not buy lands just for the sake of buying
and increasing your net worth.
Put a restraint
on your urges to go in for any land deal without any proper evaluation
and without understanding your needs. Be patient and clinch the right
deal at the right point of time.
Do not go
for any purchase deal unless you have an amount of over $50,000 in your
kitty. Further, in the process of your lookout for a land, do not attach
importance or tag as my land before you can actually buy it.
such emotional tags will lead you to a stage wherein you will not look
for other worthy land pieces and eventually you may end up in buying a
worthless piece of land.
Try to tell
your interests in buying a land to your friends, relatives and almost
all the people that you come across in your regular day-to-day life; and
if you are lucky, you may be able to clinch a good piece of land which
otherwise might have gone to some other hands.
identify the piece of land, then you can directly deal with the owner,
there by avoiding any intermediaries. In the process you can also save
certain money by way of unpaid service charges.