LOT AND LAND ACQUISITION

When on the quest for the perfect piece of land to build your custom home, the search can be overwhelming and confusing. Each parcel advertises different options, inclusions, and features, but how does a potential buyer know what all of the disclosures mean? Spaces Renewed serves as an expert advocate for clients looking to acquire a piece of land for their new home build. We research all listing disclosures and review the city’s historical records on the property to make sure the listing information is accurate in order to establish a build-ready lot. Since real estate agents are not builders, their knowledge base is limited in this area, so leaning on them for all of these complexities isn’t in the best interest of the buyer. Architects don’t have an understanding of build costs, though they do some preliminary city investigations, they are not able to advise on what it will cost to remediate any problems, should they arise, in order to get the property up to code standards and build-ready. Builders, typically, do not interface with city officials and are not permit issuance experts, and can’t provide the depth of understanding needed as to how and at what price to enter escrow. If a builder quotes a price per square foot to build, but none of the information regarding the property has been accounted for, how relevant is that ‘price’?

This is where we come in.

  • For clients looking to acquire a piece of land for their home build, here are some questions to consider:
  • Is there a site plan, topographic plan, or civil grading plan?
  • Have there been stormwater studies, soil studies, and zoning studies?
  • Is there an existing water and gas meter, and if so, are they large enough to support the homeowner’s ideal-sized home?
  • Are there utilities, sewers, curbs, and gutters?

All of these elements factor into the cost of the build. Homeowners need to know this information upfront—before the close of escrow. Some listings claim they come with plans and permits, however, an expert is needed to evaluate all documentation for accuracy and legitimacy. Because we work with the city, we can find out how much of the “plans” are usable and what their true value is. As a service to our clients, we do extensive research into each land acquisition and arm our clients with real, tangible information that can be used in negotiating the final price of the lot, which helps establish a real bottom-line cost to build their new home. Regardless of what we uncover during the discovery stage, we help clients understand what it will take to make their land buildable—adjusting and modifying budgets as needed. Nothing scares us and no matter what we discover and uncover in the investigation phase, we can still work toward making the lot work for the buyer in the long run. That’s the advantage of having a have an expert team alongside to advise and guide you through the process.