How to Buy Land in the Mountains
Finding the lot that’s right for you.
Living in the peace, serenity and splendor of the glorious Western North Carolina mountains is a life-long dream for many. Equally exciting and rewarding is designing and building your very own custom home. But before you go sketching and searching house plans, finding the right lot is number one.
When it comes to real estate in the mountains of North Carolina, it all begins with the land. Choosing a homesite that speaks to you. Where you can imagine all aspects of your life, indoors and out. You want to be mesmerized by the land, savor glorious views and share those treasured moments with friends and family. And you need the lot you purchase to make all that happen. So while the view may be first and foremost, there are other important considerations.
Location for your lifestyle.
Mountain views are in sought after, but convenience should also play a big part. How far away are your every day activities, shopping, dining, amenities, medical and more? What is the access like to your lot and future home? Are the roads twisting and turning and do you then have to travel far once you’re inside a community? If it’s a lot outside of a development what’s in and around it? The Boulders is a perfect example of what it’s like to be in a mountain community with gorgeous land, nature and view lots that give you easy and quick access to it all.
Buying land suitable for building.
Once you find a lot that turns you on, the next step is to to ensure it’s buildable. Terrain, slope and availability of utilities are considerations. Often mountain views come at high altitude with very steep slopes. If so, building may come at a high cost so talk to a builder about any added foundation or engineering fees. If it’s a lot outside of a planned community, what utilities are there, and what is available? Is there city water or do you need a well, sewer or septic (and if the latter, how are the soils), is there natural gas, state of the art fiber optic cable and electric, and will the utilities be underground? In an undeveloped area there may be a cost to bring in any needed utilities. You’ll also want to know how much of your land is actually buildable. Are there any wetlands, does planning and zoning restrict the amount of your house footprint and what are setbacks for building? In a development such as The Boulders, city water, natural gas and electric underground, a septic permit are part of the purchase and design guidelines and protective covenants spell out it all out for you (as well as protect the value of your investment).
Financing your dream.
Depending on your timing, you can purchase a lot first and build when you’re ready. Keep in mind that if you buy in a community, be sure there is no timeframe required to start building. As for funding other than paying cash, there are alternatives. If you have equity in an existing home, a home equity loan is an option, as is borrowing against a 401K or retirement fund. As for loans, financial institutions have eased up somewhat and there are banks today that provide lot financing as well as construction to permanent loans which will transition from the construction period to a longer-term loan. Some banks will even provide interest free loans on the lot during the period of home construction. Do your homework and check out your options.
Proper research and planning will ensure the process of buying land in the mountains is a dream come true.