Asheville, NC is one of the country’s up-and-coming places to live. With a mild climate, a bustling downtown, and gorgeous views of the mountains surrounding the city, what’s not to like? What makes Asheville even better is its availability of affordable land in the areas surrounding the city. But if you’re considering building a home, how do you buy land for sale in Asheville, NC? Just like any major purchase, it requires a bit of consideration and information. To help you out, we’ve created these 7 steps to buying land for sale in Asheville, NC:
Establish a budget
Buying land is a little bit different than buying a home. But just like any major purchase, you have to set a budget so you know what you can look at. There’s nothing more frustrating than finding your ideal plot of land, only to realize that it’s way outside your budget. So before you even start looking, make sure you know what you can afford, and what you can’t. Some aspects of land buying to consider when establishing a budget:
- Down payment – As we’re sure you assumed, you’ll have to put a down payment on any land you decide to purchase. What’s different is that down payments on plots of land tend to be higher than down payments on homes. This is because when you purchase a home, the bank can use the structure as collateral. On a bare piece of land, there isn’t much collateral, so they expect you to pay more up front.
- Building costs – When you buy a piece of land, your work isn’t done there. You may also have to develop the land for the home, and then build the actual house. These are all additional costs you’ll want to consider when deciding on a budget for your land.
- Carrying costs – This category includes costs that are ongoing, like land tax and loan interest payments. A lot of people don’t factor these into an initial budget, but these are costs that can affect your future, and it’s best to plan for them before you buy the land.
By taking all of these factors into account, you’ll be better able to establish a budget that is reasonable for you and your family. It’s important to know and understand all of the costs associated with purchasing a plot of land before you get too far into the process.
Decide what features are most important to you
Next, in your process of finding the perfect plot of land for your new home, you’ll want to decide what features you really want your land to have, and which are less important. Asheville, NC has a wide variety of land types, from plots way up in the mountains, to beautiful park-like lots with rolling hills, so you have a lot of options. Remember that whatever plot you choose you’re going to build a house on the land that you buy. With that in mind, what are you looking for out of the land?
- Privacy – Do you want your land to be full of large trees offering a little bit of seclusion from the rest of the world? Or would you sacrifice some of that privacy to be in a more open setting where you can see the Blue Ridge Mountains?
- Topography – The land you buy has to have a spot for your house. This means that the land has to have some level areas, or you’ll spend a lot on developing specific place for your house. More than that, do you want to live up in the mountains with a gorgeous view, or would you prefer somewhere a little closer to sea level?
- Surrounding areas – What exactly do you want to see when you walk out the front door? If you’re looking for streamfront property, then make sure you include that in your list of important features. If a vista-like view is important to you, then make sure you’re looking for properties set a little higher above others. If you want to be able to see the mountains from your Asheville home, choose a lot that isn’t blocked by another house, large trees, or even worse, a highway. A lot of us worry that we’re being too picky when we set these qualifications for the land we want. The fact is, this land is going to be the place you call home for years to come. You have to be happy with what you see.
- Acreage – Lastly, it’s important to consider how much land you actually want. Your budget will affect the amount of acreage you can afford, but there are plenty of large plots of land that would fit a modest budget. Just be realistic in considering how much land you actually want. A lot of space is nice, but if you get too much, you might have lot of work on your hands.
Tour property with land consultant
Before you even consider buying a piece of land, it’s best to have a qualified professional look at it with you. Sometimes, land concerns aren’t always obvious, and require a trained eye to spot them. The last thing you want is to buy a piece of land only to find out that all of the trees have an invasive beetle, or that it’s actually a wetland and you can’t build on it. A land consultant will be able to advise you on your land plot purchase, and will let you know if he or she sees anything that might hinder your building process.
Identify your ideal property
Once you’ve found a few options, and you’ve had a land consultant inspect each one, it’s time for the fun part: picking out your property! You’ve done the hard work by setting a budget and narrowing down your options, so now just choose the one you like best, or that you think is best suited to your new home design.
Write up paperwork with your land consultant
Now that you’ve made a decision, it’s time to get to the forms. Sit down with your land consultant, and they’ll help you draw up the necessary paperwork. They’ll also go through any legal concerns regarding the property to make sure there aren’t any red flags you may have missed initially. It’s a good idea to go down to the County Office or Bureau at this point to check up on any records on your land. This is just a good practice for buying land, as County records will tell you if there are any building restrictions or liens associated with the property.
Approach Closing Coordinator
At this point, it’s time to go to the owner of the land, or whoever is facilitating the sale, known as the closing coordinator. At this point, you can make your first offer, and the two parties can negotiate on an acceptable price for the land. They will give you a copy of the contract, for you to look over before you sign it. Once you’ve agreed on a price and a contract, it’s time to close!
Finally, you can close on your land. You’ll sign the contract and the deed, and your lawyer will draw up a closing statement for both parties to sign. At this point, you own the land, and are free to start building on it. If you’ve purchased land from a developer, with the intent of having them do the build as well, then they’ll break ground as per the statement in your contract. You’re one step closer to your brand new home!
If you’re looking for land in Asheville, NC, look no farther than Sovereign Oaks. Our mountain lots are already developed for building, and feature all sorts of beautiful options like streamfront properties, wide meadows, and gorgeous mountain vistas. The Sovereign Oaks mountain community provides its residents with homesites focused on sustainability and micro-agriculture. For a beautiful homesite to call your own nestled in the quiet mountains of Asheville, give Sovereign Oaks a call. If you’d like more information, make sure to contact us online, or give our office a call at 866-936-5263.