How to Save Money when Building a House

Step-by-Step Guide

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   Step 1: Research the land you intend to build your home on.Talk to your local Land Records or County Surveyor in order to find out more about the land you want to build on.

   Ensure the land is free of liens and other financial encumbrances.
   
   Choose a reputable Realtor or land developer who can help you find out more about the land you’re interested in and find a parcel that meets your specifications.
   
   Try checking out county websites to find out the value of the land.
   
   This can be very useful when you are considering your options.
   
   Look into zoning laws and flood zones.
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   Step 2: Invest in problematic lots cautiously.

   Some people encourage investment in “problem lots” such as hills or lots located on in-fill.
   
   Because these lots are undesirable and have likely never been developed before, they generally go for a lower price than a lot that is in close proximity with infrastructure and other homes.
   
   Talk to your Realtor about purchasing a problematic lot in your area.
   
   While they might be cheaper to obtain, these lots can cost you more in development costs later.
   
   For instance, if you have a rocky piece of land, you’ll need to blast or clear away the rock in order to set a foundation.
   
   If the land has a lot of trees on it, you’ll need to clear them, too.
   
   If the land is too far from local infrastructure, you might need to pay a lot to connect your home to sewer, gas, and electrical lines. , This way, you’ll be able to save money by buying a larger lot and splitting it in half (or partitioning it into fractions that you both find agreeable), then having your friend or family member pay you for the portion of land that they opted to live on.
   
   Make sure that you read through the home owners association CC&Rs and the local zoning laws regarding subdividing.
   
   There may be a minimum size or a rule against subdividing.
   
   Look into whether or not this is an option for you.
   
   You may also want to request that a contingency that addresses your intention be included along with the offer.
   
   Also, make sure that you look into what you can legally build on the property.
   
   Sometimes you will not be allowed to build certain structures or keep certain types of vehicles on the property, such as boats and RVs.
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   Step 3: Split the cost of a large lot with someone else.If you find the perfect piece of land to build your house on

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   Step 4: but the official lot is slightly too big for you

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   Step 5: you could try to convince a friend or family member or someone else to be your neighbor.

Detailed Guide

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