Hiring a contractor might seem the first thing to do when planning to build a home. However, this is not always true. Buying a lot should be the first thing you do. Here’s why.
Choosing the Lot without External Influences
You’ll consider many things when choosing a lot for your home. You first need to sit down and list everything you want in a lot. And this includes the size, location, shape, and more. Once you have this list, you can start looking at lots.
When looking at potential lots, it’s essential to try and forget about any external influences. And this means ignoring some advice from friends or family and real estate agents. Remember, you’re the one who has to live with the results of this decision. It’s best to make it without any outside pressure.
The Cost of the Lot
The construction cost is the main reason for buying a lot before hiring a contractor is a good idea. The lot will be among the most expensive parts of building your home. If you wait to buy it until after you’ve hired a contractor, they will add the cost of the lot into their bid. And this can cost you more money in the long run.
Additionally, buying the lot before hiring a contractor gives you more negotiating power. The contractor will know that you’ve already purchased the lot, and they won’t be able to inflate their prices as much.
You Might Need to Change Contractors
You might have to change contractors if you wait to buy the lot until after you’ve hired a contractor. That’s because the contractor you hired might be unable to build on the lot you want. If this happens, you’ll have to start the process entirely with a new contractor.
It’s much easier to find a contractor that can work with the lot you have than to see a lot that works with your contractor.
Building Your Home
Once you’ve bought the lot, you can consider hiring a contractor. Now that you’ve taken care of the most crucial part, you can relax and enjoy the process of building your dream home.
There are several reasons to buy a lot before hiring a contractor. For one, it lets you know the land and the property better. It also allows you to discover potential problems with the lot or the property before purchasing. Finally, buying a lot before hiring a contractor gives you more bargaining power when negotiating prices.
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