Building a new, custom home is one of the most significant investments you will make in your life. From purchasing a plot of land to securing a construction loan to obtaining a home mortgage, the process may seem overwhelming. The good news is that you don’t have to do it all at once! That’s right! You can absolutely buy land now and build later!
Many people want to start the building process but fear they aren’t ready to make the time or financial commitment required. But what happens when those same people stumble upon their dreamland or a piece of property that is priced to sell? The custom home building experts at Jewell Homes say buy it! And here’s why…
Don’t Miss Out on Your Dream Land, Buy Now
As the old saying goes, “You Snooze, You Lose.” It’s no secret that the housing market fluctuates. Land and homes that are for sale today may be sold by tomorrow. In this fast-paced environment, it’s hard to pass up land where you can see your forever home. But what if you just don’t have the resources to push forward with the construction process? This is one of the most common reasons that homeowners wait. They buy land now and build later. New home construction lenders understand that, from a financial perspective, it is often more practical for some buyers to split the investments up over time. This allows you to secure your land and take some time to replenish your savings account before you begin the next step, construction.
Find the Perfect Custom Home Builder
Another reason to buy land now and build later is that it gives you ample time to find the perfect custom home builder for your new home construction project. Just as finding your ideal building site takes some research, so does finding a builder you feel comfortable with. When you buy land now and build later, you have time to shop around, tour model homes, and interview prospective custom home builders.
Securing Financing for Your Land
Home site loans allow you to buy land now and build later. There are many advantages to this type of financing, but just like it’s important to find the perfect custom home builder, it’s equally as important to find the right lender. Home site loans, more commonly known as land loans, allow buyers to protect themself from rising land values.
Additionally, already owning the site you’d like to build on in the future gives you leverage for your future construction in the form of land equity. For example, you purchase land now for an agreed-upon amount. For this example, we’ll say that cost is $200,000. When you finally decide you’re ready to build, that land is appraised at $250,000. That $50,000 you’ve built up in equity reduces the amount of your down payment for your construction loan.
Construction Stage Flexibility
Most of the time, people are ready to build on previously purchased land within five years. However, sometimes life gets in the way of plans, and that process gets delayed. Home site loans can offer flexibility to accommodate your schedule. Jewell Homes recommends discussing your timeline with your home site lender to make sure you have the flexibility you may need down the road.
After you’ve secured your land loan, purchasing your ideal property, and are ready to build, your lender will be able to combine any balance on your loan with your construction loan. At that time, your lender will discuss essential factors about your land, such as zoning, permits, utilities, and deeds. They will also go over the particular specifications required for the property. It’s important to know all of this information before building, so you avoid unexpected construction costs down the road.
Buy your Piece of Kirkland Crossing
Jewell Homes, one of southeastern Wisconsin’s best custom home builders, has lots available in Kirkland Crossing. The Kirkland Crossing subdivision is nestled in the quaint town of Muskego. This new subdivision, located minutes from Little Muskego Lake, is also just a short drive from everything the city of Milwaukee has to offer. The location flawlessly connects tranquil suburban life with a plethora of contemporary conveniences.
Kirkland Crossing offers a natural, picturesque backdrop with 30 acres of wooded and sprawling space. Hiking trails connect this stunning development with the 60-acre Park Arthur, which lies adjacent to the community. Most of these exclusive lots offer partial or fully exposed panoramic views. Ask Jewell Homes about our ½ acre plots, available for you to buy now and build later! Kirkland Crossing presents homeowners with prime real estate, in a premier neighborhood, with an outstanding school system and community. It’s everything you’ve ever dreamed of! Don’t miss out!
Buy Land Now and Build Later with Jewell Homes
Jewell Homes doesn’t just design and build your dream home; they provide the entire dream experience. The professionals at Jewell Homes know that a home is more than the foundation, walls, and windows on a piece of property. They take that into consideration during the entire land-buying and home-building process.
Because Jewell Homes is a family-owned business, you will have direct contact with the owners, who take pride in knowing they have a literal hand in making your vision a reality. The company, built on the foundation of five-star treatment, not only helps you pick the perfect piece of land but they build your ideal home and give you a one-of-a-kind experience. Contact Jewell Homes to tour Kirkland Crossing. Buy land now and build later!