How Do I Go About Buying Land And Building A Home?

Know this: It's a process. And none of it will happen as quickly as you want. We just moved into a house that we did "from scratch" one year ago. From the date of land purchase, it took us 18 months. And that was at the beginning of covid.

A banker is good place to start, but reality is, you need a "plan" of what you want.

I'd write these down and go from there, it may be as simple as: I want at least 6 acres in Ascension Parish, within 5 miles of I-10/Hwy 73. Our house needs to be 2000-2500 square feet. We also would like a pool and a small pond one day.

Concurrently, I would speak to architects or designers/draftsmen, builders, and real estate agents.
Building relationships with several of these will help you gather various opinions and sort out the ones you'd like to work with.

Meanwhile, also be looking at properties to buy with and without existing houses. This is by far the fastest path, and the most concrete price-wise, although an older home could have pitfalls, as well. If nothing else, this gives you an idea of where your project should fall financially. Building yourself will give you the most customization, but will possibly cost you more.

Also by looking at other houses, you can take note of what you desire (or not), should you decide to build. Take pics of everything that you like! (much easier to show a trim or cabinet guy, or try to remember)

Just asking here is a good start. Like everything, the more time you invest researching, the better your result. Enjoy the journey.

Well buying land outright to start isn’t a realistic option for us. We really only want 5-10 acres but still, that is anywhere from 65,000-120,000 depending on lots of factors. I figure that we should spend somewhere on the order of 375k-450k for the total project and I would like the land included in that price if possible. I know there are a lot of peripheral expenses to consider, which is why I am seeking advice from y’all.

I just don’t think I can drum up 90k in cash without breaking into retirement accounts, which I would prefer to not do.

If not in a hurry you can find the land you want and either pay it off or pay it down. Then the collateral of the land can be used for construction loan.

Man there’s a lot to nail down as there’s a bunch of different ways to go about it.

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So how do I go about getting a loan for 100,000 for a land purchase?

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You can get a “land loan” from many banks and credit unions. There’s also a few specialty land banks, but I’ve found they’re more for large plots of land (e.g. farms).

If you plan to start the building and finish within a year, you could also roll the land purchase into your construction loan. Basically would purchase land and immediately start the building process. Depending on the lot, it might involve clearing it, building a pad, or just establishing access.

I'm looking for land too. Want to pay by cash. What are various resources you would suggest for research?

Once you find property that fit your needs check off a few more boxes.

What flood zone is it in?
What is it zoned are there any local goverment restrictions.
What utilities are fronting or not fronting the property?
Are there any easements that would severly impact building
a home on the property?
Is it fronting on a public roadway.

All property in Louisiana is in a flood zone some good and some not do good. Great if it is in the good zone. If it is in the not so good zone, hire a surveyor to determine the ground elevation where you want to build. Compare the ground elevation vs. the requried elevation. Subtract the two numbers and this will tell you the how high above the existing ground you need to build up. Plan to go at least 1' and if possible 2' or more above the required elevation.

Location, location, location, not only today but down the road, years ahead. Get away from flood zones and industrial areas and areas of possible development. You may have to get 3 or more miles out of town. Check out the condition of the land i.e. forested, clear cutting, hills or low spots, erosion, pasture land, traffic noise, rough neighborhoods, road condition, ponds or creeks, available utilities, etc. Take your time, look around, find out from the locals, don't lock yourself to a particular area. Enjoy the hunt, there are a lots of options out there.

First things first. Get in car. Leave Louisiana. Drive to Florida, NW Arkansas, Idaho, Montana, Wyoming, SC and anywhere in TN not within 50 miles of Memphis,

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