Buildable lots and custom builders (foreclosures, HOA, custom home)

[CharlotteRJ]

The quest to find the perfect house for us has been tricky, with some of our space needs. I looked last night, and there are some buildable lots on the side of town I prefer. Does anybody have any experience with buying a lot, and then hiring a builder to put a house on it? When I google "custom builders" I get a whole bunch who want to build me a million dollar home. I would like something like I'd find in Cordera or Falcon, just on a lot we buy ourselves without the whole crazy HOA thing. Small modest house, big garage, that sort of thing.

Experiences? Thoughts? Am I crazy like my husband thinks I am?

[Mike from back east]

No, not crazy.

Try Keller Homes, they've done lots of building around town, are a local favorite, and will do some semi-custom homes as well as their stock plans.

Be sure to have any lot tested for Bentonite, a mineral found in much of the soil here. It expands when wet, can wreck a foundation. There are ways to build homes on lots with Bentonite, should be fine if a builder does the right things when in the dirt moving and foundation stages. If an existing home is 5+ years old and has no slab movement then most people consider that home a safe bet to not have bentonite issues.

Also be aware that Radon can exist here too, and can be remediated in existing homes but remediation is best done during construction. I'd have any existing home tested for Radon.

A realtor (which I'm not) can advise you; consensus is to hire a "buyer's agent" who is working for your best interests, not the seller's.

If you want referrals for a Buyer's Agent, ask for that in the forum and people will send a DM with a referral (we don't allow referrals in the open forums).

[hollyt00]

We were really thinking of using GJ Gardiner and then we found a house we liked instead!

[CharlotteRJ]

hollyt00 - I hope our story ends like yours! (And that we end up neighbors!)

[SCOOTER44]

Charlotte, I sent you a DM.

[ryanek9freak]

Originally Posted by CharlotteRJ

The quest to find the perfect house for us has been tricky, with some of our space needs. I looked last night, and there are some buildable lots on the side of town I prefer. Does anybody have any experience with buying a lot, and then hiring a builder to put a house on it? When I google "custom builders" I get a whole bunch who want to build me a million dollar home. I would like something like I'd find in Cordera or Falcon, just on a lot we buy ourselves without the whole crazy HOA thing. Small modest house, big garage, that sort of thing.

Experiences? Thoughts? Am I crazy like my husband thinks I am?

With the housing market the way it is, I think its remarkably unethical and just plain wrong to build a new house, when there's a plethora of empty existing homes already sitting there. If you're willing to spend the money to build, you should be willing to spend the money to renovate to your liking. Heck, you might even SAVE money that way.

Just my opinion though...

[colobill]

Originally Posted by ryanek9freak

With the housing market the way it is, I think its remarkably unethical and just plain wrong to build a new house, when there's a plethora of empty existing homes already sitting there. If you're willing to spend the money to build, you should be willing to spend the money to renovate to your liking. Heck, you might even SAVE money that way.

Just my opinion though...

That is very almighty of you! I am glad I don't live in your kingdom.

[CharlotteRJ]

Originally Posted by ryanek9freak

With the housing market the way it is, I think its remarkably unethical and just plain wrong to build a new house, when there's a plethora of empty existing homes already sitting there. If you're willing to spend the money to build, you should be willing to spend the money to renovate to your liking. Heck, you might even SAVE money that way.

Just my opinion though...

We're perfectly willing to renovate. It's finding a house that's affordable with a reno budget leftover, on a lot that's situated right for what we want to do or doesn't have HOA covenants against it that makes it really tricky. I'm still hoping it will work out that way, building is our last resort, because you're right, it will be cheaper. I thought that fitting our major criteria would be easy, but it's not working out to be so.

And FWIW, the housing market isn't really "the way it is" anymore. Inventory is down and it's turning into less of a buyers' market, and evening out considerably.

[Seeker5in1]

Originally Posted by CharlotteRJ

And FWIW, the housing market isn't really "the way it is" anymore. Inventory is down and it's turning into less of a buyers' market, and evening out considerably.

There are legitimate arguments for either buying or building, but the "low" inventory is caused by foreclosures being kept off of the market to keep prices propped up. They are slowly dribbling these into the market now, and that may accelerate.

[ryanek9freak]

Originally Posted by colobill

That is very almighty of you! I am glad I don't live in your kingdom.

Most of my family is in realty, and even they feel this way. There's quite a few non HOA neighborhoods around, if you look. They may have covenants, but those are different entirely.