If you are interested in building Ottawa real estate, you will need to check out a few items before you buy. Whether you are building in the city or country, these tips will help you make the transition a little smoother.
- Do your homework first
Before you step foot on any property, do a little research on what you want. Start with the type of home design and budget you can afford. Check with your bank or broker and tell them your ideas. They will be able to explain the different mortgages available from the vacant property until the time you build.
- Developed vs. Undeveloped
What appeals to you more — buying vacant land in a subdivision that has all utilities (sewer, water, gas, electricity) or a vacant lot? The vacant lot may cost you a chunk of change to bring everything together including utilities and a septic system. There are pros and cons for each. The developed land will cost you for any infrastructure already done.
- Location
Your quiet piece of land in the country may have snowmobile trails in the back, a stone quarry or a hog farm located nearby. If you are going more suburban check with the City to see any developments coming to the area. There may be plans for an industrial park or a large residential development near the property you like.
- Commuting
Check out the commuting distance to work, hospitals, restaurants or shopping. How far are you willing to drive, especially in the winter?
- Schools, Taxes and fees
If you have children and are looking at a certain school, make sure that school is in the same zoning area where you are going to build. Check the Township to see what your property fees and utility costs may be.
- Pick a Trustworthy Team
Get recommendations and estimates for builders or contractors. Whether you are thinking of buying some land or building from scratch, the best thing to do is take your time for the research. Get a lawyer to do your title search and get a recent survey of the property.
Often your real estate professionals can give you information on the background of land that is for sale. The Anne Winch Ottawa Real Estate Team can help you get an appraisal of the land you may wish to buy also. Don’t rush into buying land just because it looks like the perfect spot for your home. Make sure you have all the right professionals helping you along the way. Contact us today!