These Tips Saved Us $17,300 When We Were Buying Land For Our Bardominium

Buying Real Estate
Buying the right piece of land for any house is a big decision, but if you plan on building a barndominium there is even more to factor into your decision. In this video I’ve outlined three tips that can save you a lot of money, in our case, $17,300. One mistake alone could’ve increased the build price an additional $9,800!

The three tips I recommend are:
1. Know your budget.
2. Use a real estate agent that is knowledgeable with vacant land purchases.
3. Consult with your builder.

1.Know your budget – This is a big one! Figuring out how much your build itself is going to cost and how room you have left for land. You always want to make sure you have a wiggle room both for the cost of the land and building the barndominium itself. It’s tempting when that dream piece of land comes on the market, but if that list price pushes your overall budget to the max, this potentially could cause issues down the line. Lumber prices can go up, last minute design changes, etc and if you went to the high end of your budget when buying land and those issues come up with your build, you may not be able to build immediately.

2. Use a real estate agent that is knowledgeable with vacant land purchases – Buy using a knowledgeable real estate agent that we trust and who had our best interest in mind, we saved $7,500! It’s not earth shattering, but in our area negotiating a lower list price is usually out of the question. Having her represent us helped tremendously, especially in the current state of the housing market and the high demand for homes and land in this area.

3. Consult with your builder – This is a mistake some people make. They buy land without consulting with their builder only to run into costly projects down the road. For our case, the original location for the septic tank and drain field was going to be very costly. This was due to being recommended to get a grinder pump and having an engineered septic system installed, estimated cost was an additional $9,800. After having our builder come out and inspect our property, we found a new septic system site that would work with our build location. Also, another very important aspect to consider is if a barndominium can even be built on the property. Since it is a slab, you need flat ground and depending on the terrain of the property this can put an end to your dreams of building a barndominium. The amount of excavating needed to make an ideal spot for that slab can eat into the project funding quickly.

Stay tuned as the journey continues….

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