The Pros and Cons of Buying a Lot Prior to Hiring a Builder
BUILDING PLACES THAT INSPIRE
When planning to build your custom home, you want to get everything right straight off the bat to avoid regrets down the line that could be quite costly or even impossible to fix. Selecting a lot that suits all your needs can be the most critical decision you make in the entire construction process.
There are several advantages of seeking guidance from a custom home builder when buying a land, but there are also many advantages of going solo. Is it really worth it to pay for the professional assistance of custom home builders when buying a lot? That actually depends on your unique personal needs. To examine the prospects of going solo vs going with the guidance of a builder when buying a lot, here’s a rundown of the pros and cons of each one of these options.
You have complete control
The builder you hire to guide you when buying a lot in Vancouver must have a say in what is or isn’t appropriate. If you’re confident in your ability to research markets and critical factors involved in the purchase, then you may find the intervention of the builder a little overbearing in the decision making process. When you go solo, you take complete control when deciding the location, size, and other parameters of the lot.
You can take as long as you want
When you hire a custom home builder prior to buying the lot, you may find yourself under more pressure to begin the design work right after the purchase. If you go solo, you can take as much time as you need to search for the right plot, pick the right builder, and find the right plan. With lesser pressure, you get to enjoy the construction process a whole lot more.
However, keep in mind that the design and construction phases might take no less than 12-15 months, so you need to factor in this waiting period when dilly dallying around in the preparatory phases of your custom home construction.
If the builder you hire is taking long to start work, and you’re applying for a loan, the delay might limit your loan term options. If you simply apply for land when seeking a loan, you might get a more favorable loan term, probably such that it would cover most of the construction cost, or allow you to save more money towards the construction. Besides, when you go it on your own, you’ll have more cash to spare for the cost of the custom home.
Lack of knowledge and expertise:
A home builder most likely knows a whole lot more than you do concerning your dream custom home. A builder can therefore provide expertise to help you make decisions better suited to your needs.
Violation of zoning regulation
A custom home builder can help you keep abreast with zoning regulations and building codes applicable to your Vancouver home. This can help you ensure that your dream home is compliant with all building codes.
Issues with the lot:
There are many issues which only a trained eye can detect. A custom home builder can help ensure that the lot you’ve chosen doesn’t have issues with topography, road access, drainage, and other factors that might otherwise elude you.
Is it Better to Hire a Builder Prior to Buying a Lot?
At Silvercrest Custom Homes and Renovations, we have all the expertise you need to see through every phase of your custom home, from the lot acquisition right to the interior finishing. However, we would love to ensure that you get everything right from the onset. Reach out to us today to avoid any regrets in the construction of your custom home.