Building on Your Own Land In Greater Houston

When you are looking for a new home and can’t find what you want in the current inventory of under construction or pre-owned homes in your area, building on your own land may be the way to provide you with the perfect home where you want it. Whether you already own a lot or are ready to start looking for one with the views, acreage, or location you want, RVision Homes, Greater Houston’s premier custom home builder, is ready to help you.

 

The Challenges Of Building On Your Own Land

Building on an undeveloped lot, while being the ideal solution to having the life you want where you want it, has its own challenges. The price for the land may seem reasonable but preparing the site for building can require a multitude of expensive permits, followed by costly operations to prepare the site for building. For example, the lot may need:

– Site evaluations to make sure lot is suitable for the home we went to build
– Removal of trees, vegetation, and debris
– Extensive earth moving and grading to create a flat spot for the house and assure drainage for adjacent land
– Soil removal when foundations are dug or hills leveled
– Creating access roads and temporary driveway to enter the site
– Adding utilities that are not in place

Are you ready to enter the maze of costs and regulations?

Financing Challenges Of Home Building

The steps to get the site ready for building can add thousands to the purchase price of your home and land and even make building a home out of your budget. You might think that extra costs can be absorbed into your mortgage, but financing a custom-built home on your own land is different than buying a pre-existing property or a new home from a developer. Conventional mortgage loans are not usually available on properties you build or that are built for you, as this type of construction represents more risk for the lender.

Unless you are paying cash, you will need a short-term construction loan which involves higher interest rates than traditional mortgages. After completion, you can refinance your construction loan into a permanent one that includes the cost of your home or obtain another loan in addition to the construction loan to cover the costs. If you are building your home yourself or you are acting as your own general contractor, you may have difficulty obtaining a reasonably priced construction loan. Most loans on custom-built homes also require a much higher down payment (usually up to 25%) than traditional mortgages.

Custom Home Building Made Simple At RVision Homes

While building on your own lot may involve many challenges, prospective homebuyers in the Greater Houston area have help available at RVision homes. Owned by experienced builder Ryan Rogers who has 24 years of experience in residential real estate and construction experience in over 150 communities in the area, RVision can help you navigate the complex world of custom home construction. We realize that are having a home built involves more than making design choices about room layouts and materials used; selecting affordable land that is right for your home is a major part of the process that most potential home builders are unfamiliar with.

By offering a free monthly Build On Your Land (BOYL) seminars, RVision thoroughly prepares you for it the home building journey you will take when you build a home. We explain the three components of land cost, site evaluation, and design customization that are a part of every construction process. If you do not own land, we introduce you to our own Choose A Plan, We Buy The Land (CAP) program to save you from having to get a construction loan by purchasing land for you and evaluating its suitability. RVision works with lenders who know our reputation for excellence and who will issue the loan at traditional rates with low closing costs.

Call RVision Today

Our goal at RVision homes is to make custom homeownership affordable to a broader range of buyers. Whether you already own your land or are just in the planning stage of land acquisition before building your home, we invite you to attend one of our Saturday BOYL seminars, where are home building specialist will familiarize you with what is really involved with custom home building. To sign up, fill out our website form , call us at (281) 844-2887, or email us at sales@rvisionhomes.com.