Finding your dream home isn’t easy. It may be downright impossible, because your dream home just doesn’t exist yet! If this is the case, building a home on a vacant piece of land may be the perfect option for your and your family. You’re in luck because there is still plenty of open spaces available for purchase in Cape Coral, Lehigh, Estero, Naples, and beyond.

You’ve probably never purchased a lot before, and you should know going into it that it is quite different than buying a home. With that in mind, here’s a few expert tips to get you started:

#1 Consider the financing. A loan for a vacant lot is much harder to come by than a loan for an existing house. For this reason, you may want to wait until you can pay cash for it. There is special financing available, called a Bridge Loan, where you can sell your current house first and use that profit to pay for the loan, so be sure to look into all of your options. On the bright side, you’ll have a much better chance of being approved for a construction loan for the custom home you want to put on the land after it’s purchased, since the land itself will be completely owned by you and can serve as collateral.

#2 Pay attention to the neighborhood. This isn’t just about the lot itself. Consider the value of the other homes in the surrounding neighborhood. Building your home allows you the ability to customize it, so be sure you’re building your dream home in a neighborhood with other people’s dream homes as well!

#3 Think long term. Keep in mind when looking at a lot that if all goes well, you’ll actually be living on this spot one day. If you didn’t like driving out to see the lot, you won’t like living there for long. Sure, you may be able to get a lot very inexpensively way out into Lehigh or in the North Cape, but is this where you actually want to live? Is this where you want to start your work day commute and have your children go to school? No one area is better than any other, it’s all subjective and personal opinions.

#4 Don’t assume anything. Take utilities and road access into account when looking at a lot. It’s easy to take access to running water, electricity, and sewers for granted, but when you’re looking at a vacant spot of land these are not always a given. There are still plenty of places from Cape Coral to Naples that are on well water and if you don’t want this, steer clear of those areas.

#5 Work with a Real Estate Agent. You wouldn’t buy a house without bringing in professional help, right? Well, this lot is going to be where you put a house so an expert is needed for this as well. You don’t want just any Real Estate Agent though. You need someone who knows the Southwest Florida area thoroughly, and works with vacant lots on a regular basis.

If you’re ready to look for a lot, come to The Beattie Realty Team first! It doesn’t matter if you plan on letting it sit for a few years, or building on it right after closing, we want to help you find the perfect location. If you plan on building right away, you’ll probably need to put your current home on the market as you’re looking for a vacant lot and we can help with that too. Call us today at (239) 994-6187 or email sales@beattiedev.com to find out exactly how the Real Estate Professionals at The Beattie Realty Team can help you on this journey.