November 16, 2022
If you are looking for your dream home and the perfect place to live, then Squamish may be the place for you. Squamish has been seeing a great deal of growth as more people discover its beauty and charms.
While it's entirely possible to find the perfect home in Squamish, there are some who are interested in buying land where they can build their own home. This allows them to build the exact house that they have always dreamt about.
If you're considering buying land to build a home, keep reading. Here's what you need to know about lots for sale in Squamish.
Buying a Lot in Squamish
Buying a vacant lot, like any property for sale, can be complex and there are things that you will need to consider that you don't typically think about when buying a home. Here are some of the things to keep in mind:
Understand Your Finances
As with any real estate purchase, it's important to know your budget and how much you can spend before you start looking. You don't want to find a plot of land and fall in love only to later realize that it's beyond your means. Take time to evaluate the cash you have available, or which you can secure before your purchase, so that you have a firm idea of your budget.
You may want to consider seeking a construction mortgage. This type of loan is used for buying vacant land to build on. This is useful because purchasing land can't be leveraged with a bank the same way a home purchase can.
Work With an Agent to Find Your Lot
Working with an agent for Squamish real estate will save you a lot of time and trouble. They'll be able to help you with details such as your negotiations, doing your due diligence, and finalizing the deal. It's best to work with an agent who has a history of working with both buyers and sellers. Also be sure to ask plenty of questions to keep yourself informed, rather than relying entirely on the agent.
Confirm Utilities and Ease of Access to Your Lot
Any vacant lot that you're considering will need utility access including power, gas, telephone lines, Internet, and more. While this may not be an issue depending on where you are looking, you may wish to search for a lot that already has utilities installed. If the lot you're considering does not have them preinstalled, this will have to be factored into your budget as they will all cost money.
Don't forget water and sewage. If your property isn't close enough to water and sewage lines, you'll need a well and septic system.
Also consider the road access. While this will rarely be a problem in urban areas, lots in more rural locations may be more difficult to reach. This would not only increase the time and expense when building your home, but you may also find it inconvenient once you move in.
Get a List of Restrictions
Building your home involves more than simply choosing plans and starting construction. You should request a list of restrictions for the area. For example, are there any restrictions on building fences? Are you limited to a certain number of vehicles? There may even be restrictions on the height of the building. It's always best to confirm before you start your project.
Has the Land Been Surveyed?
It’s possible that the land already has a completed survey, but if not, you should check with a surveyor who can properly identify the property’s boundaries. Even if a survey has already been done, it may be old and outdated. Getting an up-to-date survey could be important when dealing with legal matters like easements. Surveyors can also help you determine the space elevation for planning out the dimensions of your house.
Building permits are required to construct a new building or structure. This is another area where working with a real estate agent may help you as they should be able to give you guidance in obtaining a permit.
Is Buying a Vacant Lot Right for You?
Buying a vacant lot is a great way of ensuring that you're not only living in the perfect location, but also the perfect home. Before seeking out a lot, however, it's important to be aware of what you're getting into. Seeking the help of a Squamish real estate agent will make the process easier and they will be able to answer all your questions.
For more information about Squamish lots for sale, contact us today.