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Benefits of Buying Land in a New Neighborhood

New land buyers are contemplating a new home at The Palms near Lubbock.

Benefits of Buying Land in a New Neighborhood

Being Among the First Buyers Has Distinct Advantages

First-time home buyers who want to build their own home typically begin the process by searching for a lot or parcel of land. There are many considerations involved, including that age-old, often-used real estate phrase, location, location, location. Figuring out where you want to live goes hand-in-hand with what you want to live in (your beautiful new home). Before we s take a look at the top few considerations, let's go through a few "getting started" pointers.

Make Your Check-List

A great start is making a brief list of the features or characteristics that you want in your neighborhood. Good questions to ask yourself  include:

  • Do I want to have additional space beyond what a typical home lot has?
  • If I do, do I know how much extra space, such as for animals, a garden, or a large outdoor entertaining space?
  • What school districts should I target?
  • Are there areas of the community or city that I'd like to be especially close to?

 

A neighborhood property developer, like Sharkey Development, or a real estate agent or home builder, can help you think through the process, and balance your priorities with availability, distance considerations, and your budget.

Feel free to contemplate and visit new neighborhood developments as often as you need. Driving or walking around existing phases or nearby neighborhoods can help you visualize what undeveloped lots will look like once homes have been built. Take sketches with you of the home you want to build, then take photos of the area while you're there. You can then refer to these later.

Some Top Advantages of Buying a New Lot

When you purchase a plot of land in a new neighborhood, you can often be among those with the first choices. You can choose from the prime lots that fit your needs and criteria. Next up, you can maximize the long-term return on your investment. As the community continues to expand, land prices may inevitably increase. Purchasing early can help you see greater returns and value increases in the property years down the road.

Great Rewards

Buying a new home lot can seem a bit daunting, especially if you've never been through the process before. Rest assured you're not alone, and we here at Sharkey Development have a team that can help you through each step. It will be a wonderful journey on the way to your new home and living in your new neighborhood!

 

 

 

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