Because of the recent downturn in the housing market, potential homeowners now have to be more creative in their approach to buying a home. One of the methods is buying bare land and building your own home in the country. This includes four basic steps. These are:
· Purchasing the land
· Drilling a well
· Digging a septic
· Building or buying a dwelling
When purchasing a piece of land, be sure that it has water for a well, enough flat land for a septic, and space for a pad for your country dream house. Because banks don’t generally lend on bare land, you usually get owner financing on a land purchase. Be sure to get forms that specifically spell out the terms of the purchase and financing. Everything needs to be in writing and signed by all parties of the transaction. Two websites that have listings for land include http://www.elandusa.com/ and http://www.mls.com/.
Well drillers charge by the foot whether they strike water or not. You need to find a reputable well driller in the area. One of the ways is to ask neighbors who drilled their wells. The price includes getting the permits, drilling the well, and the pipe that extends down the hole of your well. You can hire a douser or find a spot where the vegetation is green even when it’s dry to secure a drilling location. Pumps, holding tanks, and pipes to your house are not usually part of the price. For that you have to hire a pump company and a contractor to do the work.
Septic systems require a tank and leach line. The size depends on the number of bedrooms in your house. Check your county regulations for the exact specifications. Often times, you hire a contractor who gets the country permits, installs the septic tank, and digs the leach line. The cost is generally negotiable and you can arrange payments.
The final part is the most essential—the building or buying of your house. The possibilities are many and vary from building a custom home you design yourself or installing a manufactured home, modular, or dome home, to renting or buying a trailer to use as your base while you’re building or until you’re ready to build. Depending or your credit you can get a building loan to cover your costs. Also manufactured and modular home dealers often provide affordable financing. Websites featuring manufactured homes include http://www.clayton.net/ , http://www.championhomes.net/ , and http://www.fleetwoodhomes.com/.
The choices are yours to make, depending on your preferences and personal finances. The housing crunch has made it harder for first time buyers, but not impossible thanks to some creative alternatives.