Saturday, December 27, 2008

Building a New Home Part 2

Once you've selected your builder, it's time to find a lot to build on. Finding the right lot is a critical part of the process. Usually the lot location and size will be determined by the budget. Not only for the lot itself but for any special circumstances surrounding the lot that may cause additional expense such as a steep lot that requires retaining. Not to beat the point to death, but as I mentioned in Part 1, this is why you need to have your builder as a part of the team as early in the process as possible. Not knowing the right questions to ask when looking for your lot could cost thousands in unexpected costs when it comes time to build.

It's also a good idea to have a Realtor involved in the process at this time. Your builder most likely has an agent that he works with if you are not currently working with one. A real estate agent will have access to the Multiple Listing Service where all listed properties are compiled into a database for agents. Your agent will also be able to guide you through all of the legal documents and requirements. You should have some parameters in mind regarding cost, size, and location. Then your agent can select properties for you to see based on these parameters. When visiting the potential lots, your builder should accompany you to advise you as you try to narrow the choices down and ultimately make a final decision.

Once you've finally made the decision and made the offer to purchase, it's time to obtain financing and start on the plans. We'll talk briefly about financing next, followed by the process of designing a new home.

In the mean time, contact me with any questions, my information can be found below. Questions about real estate? I recommend Patrick Howells of Howells & Company. Patrick can be reached at 801-523-8900 or

Kelly Anderson
801-416-3131 ext 101
2825 East Cottonwood Parkway
Suite 500
Salt Lake City Utah
Builder Director Salt Lake Home Builders Association
Winner Parade of Homes "Best of Show"