04 Aug Buying a lot then building a house. What are some lessons learned for your experience?
Hello, I am looking into buying a 2 acre lot in Washington state. My plan is to buy it and then over the next couple years begin developing my family’s final home. We’re not buying this for an investment but to live in forever. My question is where do I start? I’ve been searching online for a couple days and the information there is overwhelming and seems to be flooded with ads and commercials more than true information. Is there a guide or a book you can recommend to help me understand the process of hiring contractors, builders and getting licensing and permission from the city to do what I want. How much can I request from my realtor for recommendations?
My only experience is buying the current home I live in which was already built. It was a pretty straightforward process.
Any notes would be appreciated. Thank you very much.
Edit This sub is amazing! I’ve gotten great feel back and you all are now stuck with my my silly questions in the future.
I wasn’t sure how much detail people would want. The property is 2 acres near the water in WA for 400,000 USD. If I buy it will be half cash, half mortgaged. I currently own the house I live in, also in WA, and plan to rent it out when it’s time to move.
My plan is get get the land then within 5-7 years build it up how I want. Add a home for my family and guests and another home for my mother. The lot can be split in two and I think I would do that so I could have options to sell in the future.
There is septic, a well and power on the lot. There use to be a house but it was removed by previous owner.