So I'm young (22) and know that eventually down the line, I'd want to own a house. I'm also very particular about thing's and I highkey wish I could build a small turkish bath attached to a house. So what I'm wondering is if I shouldjusts buy a plot of land and eventually when I'm ready to settle down, build out the house
It depends on what sort of plot you have in mind. There'll generally be zoning laws no matter where you buy, restricting what you can build on the land- how big the house can be, where it's located, etc. If you're thinking a rural homestead kind of thing, then you need to figure out water, sewage, electricity, gas, maybe an access road. Unless you're ready and able to settle down right now, I'd say to hold off. What you want in 5, 10, 15 years might change.
It's true, I definitely know things can change in the future. But I know the cost of buying 15 years later is going to be really expensive and almost unaffordable. I'm definitely thinking more suburban
Usually not worth it if you have a lot of money and time. It’s not easy to get it financed and it can take years from city approval to build
That's what im thinking. Being young, I do have time to wait for things to get approved. Like there's no rush to have a home ready for a baby or anything
You really need to define where you’d be buying land as it would have an enormous impact on carrying costs. Rural land, extremely low taxes. Urban/suburban land, typically high taxes. Even when unimproved.
That's true too. I was thinking suburban, potentially rural but would have to worry about utilities. Imo it's either that or a coastal area
You shouldn’t have to worry about utilities. If it’s unimproved land then there are no connections although they may be available. If they are connected you can simply request them to be disconnected by the utility company. It might cost some nominal fee ($100?) but then they can be reconnected for a fee at a later date as well. It’s really about taxes, hoa fees if they exist, etc. Things you can’t turn off. I have 6 acres in a community that I’m going to flip shortly. Electric at the street but no connection and still need a well for water and septic installed.
The costs for building have gone way up. Everything is from permits to materials to construction is optimized for large scale developers building a plot of 10+ new houses. Individuals have difficulty with every step along the way. Unless you already know someone who is giving you a friend family deal it will likely cost more to build a new house than the cost to buy a house of same size. Also will take 6mo-1 year so you would need to be able to afford cost of build plus rent /living somewhere else during construction. Not impossible but I would call it incredibly risky for a first time homeowner
Disagree, I built two years ago. Lot cheaper than buying an existing house, and you get exactly what you want.
I think it depends on the area. But yeah getting exactly what I want is important to me
Farm land - grow strawberry 🍓 🍎 and do farm business
Lol that was my dream life in high school. Just own a berry farm
Dont buy land. Buy property
You don’t know where you’ll be living 10 years from now. Focus on career, partner and then a home, in that order!
Well most guys I've met don't seem worth it to settle down with. I would be much happier on my own instead of some guy that'll just add unnecessary stress