How to Choose a Land Lot for Home Construction

Are you dreaming of building a new home? Whether you plan to live in a new subdivision or out in a rural area, you probably need help figuring out what kind of lot to buy—and how you’ll pay for it. In this article, we’ll help you weigh the most important factors in choosing a land lot so you can lay the best foundation for your future home. If you need a loan to purchase your land lot and/or to finance your new home construction, our mortgage lenders can help you find the best financing options to meet your needs.

Property Lines 

Choosing the size and shape of your land lot is perhaps the most important decision you’ll make, as it will determine how big your home can be. And it’s not just about the size of your house—think about any additional structures you want to have on your property, either now or in the future. For example, a porch or deck, garage, shed, pool, etc.

Surrounding Properties 

Once you’ve found the right-sized lot, take a look around at your neighbors (if you have any). Are there other houses, open lots, parks, commercial or municipal property nearby? Are any of your neighboring properties close enough to cause noise or privacy concerns? Check the zoning on any empty lots bordering your property to see if they could become commercial structures you wouldn’t want to live next to in the future. If you’re buying a lot in a new subdivision, consider your location in the development. Would you rather be closer to the pool or to the entrance, for example?

Proximity to Amenities

Some people may want to choose a lot that is isolated for privacy purposes, but others may want to simply have a new-construction home that is close to town. Regardless of preferences, you’ll want to consider how close you are to necessary resources, such as gas stations, supermarkets, schools, hospitals, etc.

Nearby Streets and Traffic 

Consider the surrounding infrastructure. On the one hand, you need roads to get from your house to all the other places you want and need to be. However, living right on or off of a busy road can be a hassle, not to mention a safety concern if you have young children or pets. Look to the future as well as the present. Traffic in your area might not seem too bad right now, but if there’s a lot of development planned, congestion could get worse in the future. 

Utility Connections

Know the difference between raw land, which is completely undeveloped (no utility hookups) and improved land, which should have at least some, if not all of the utility connections you need. Run down your checklist to find out if the lot has access to power, water, sewage, cable, internet, etc. If you’re buying in a rural area, will you need an expensive satellite Internet service? How strong is your mobile phone signal without Wi-Fi?

Natural Landscape 

Account for any existing features in the natural landscape on your lot. For example, trees, rocks, bodies of water, and other elements of nature within your property boundaries. Removing trees, rocks, and other features from the construction area will likely incur an extra cost, so think about what you might want to keep or can work around before purchasing a lot.

Consider the View

What direction will your home face on the lot? Do you want a lot with a view? To face north for the best sun exposure? Which way will your bedroom windows face—could street lights and noise disrupt your sleep? Is there anything blocking your view or anything you don’t want to look at? 

Topography 

Finally, pay attention to the topography of your potential lot. Is it flat, on a slope, or uneven? How will the topography affect your ability to build your house and other structures? Will flooding be an issue?

Finance your land lot purchase with Town and Country Bank and Peoples Prosperity Bank

Are you looking for a lot to build your new home on? Wondering what your financing options are? At Town and Country Bank and Peoples Prosperity Bank, we offer Land and Lot Loans, as well as a full range of home loans to meet your needs. To learn more, contact one of our experienced mortgage lenders for assistance. Ready to get started? Apply online today or visit one of our nearest locations. Our friendly and attentive staff welcomes you to any of our branches in Springfield, Jacksonville, Lincoln, Decatur, Bloomington, Edwardsville, Fairview Heights, and Quincy.