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  • buying a corner lot

    Dear friends

    i am planning to buy a small residential corner lot in upstate NY in a rural area to built a house. the lot is approx 0.32 acres and several setbacks based on the corner lot.
    It has been surveyed and maybe the last piece of land in the village. most of the houses in the village are ancients (built-in 1800-1880) and I do not want to go to the renovation route. I am a first time land buyer and have thought of the first time about building a house. What are your suggestions and tips so that I may not get stuck at any step? Is this a good idea for someone like me with a full-time working physician spouse and 2 kids one 7 years and one 1 year?
    please feel free to post both practical and emotional experiences.
    Thanks

  • #2
    How busy is the intersection? What are your main concerns with a corner lot? I'd probably be more concerned about the age of the house.

    Comment


    • #3
      Wow, so so many details to consider and CordMcNally has only brushed the surface (as I’m sure he is well aware ;-) ). Do you have a realtor-friend you trust, one who is not trying to sell you something?
      Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

      Comment


      • #4
        Some towns have weird rules about road front. You might not be able to plant trees or put up a fence etc.

        IS there sidewalk? Make sure you can get a driveway and garage.

        Taxes are killer in ny. Look at similar properties to get an idea.


        If it is right in town make sure you spend some time walking around the area. Get a feel for how busy the street is with cars and pedestrians. Hopefully no crime but I would check at all times of day. I literally just park my car and watch the neighborhood for a few hours at different times of day and days of the week.

        Good luck!

        Comment


        • #5
          We rented on a corner lot with sidewalks and we said never again-- too much sidewalk to shovel in the winter!

          Comment


          • #6
            Standard stuff like if you're hooked up to city water, do you get natural gas to the house.

            For home building, you need to figure out the cost per square foot for the type of finishes you want. This has to be very exact, and some things are standard in some areas of the country, while they are upgrades in other areas of the country. Does the bid on cost per sq ft include heated/cooled square footage, or simply square footage under roof. If you're doing a full custom home, how much will your designer/architect run you in the area?

            We are a little less than a month from finishing our custom home in the midwest. It's a lot more work than you'd think, but some of it is how picky you are. I think our home is beautiful, but there are many things I'd change now that I know much more about the building process. Heck, I'd even pick an entirely different lot.

            Some people like corner lots, some people don't. For people with small kids, I'd say its a negative just because you're contending with 2 streets.

            If you have any questions, let me know. I know a lot more about appliances, glass configuration, paint finishes, windows, doors, roof pitch, height, electrical, crown molding, brick work, garages, and many more other things I care to know about.

            Comment


            • #7
              Originally posted by Brains428 View Post
              Standard stuff like if you're hooked up to city water, do you get natural gas to the house.

              For home building, you need to figure out the cost per square foot for the type of finishes you want. This has to be very exact, and some things are standard in some areas of the country, while they are upgrades in other areas of the country. Does the bid on cost per sq ft include heated/cooled square footage, or simply square footage under roof. If you're doing a full custom home, how much will your designer/architect run you in the area?

              We are a little less than a month from finishing our custom home in the midwest. It's a lot more work than you'd think, but some of it is how picky you are. I think our home is beautiful, but there are many things I'd change now that I know much more about the building process. Heck, I'd even pick an entirely different lot.

              Some people like corner lots, some people don't. For people with small kids, I'd say its a negative just because you're contending with 2 streets.

              If you have any questions, let me know. I know a lot more about appliances, glass configuration, paint finishes, windows, doors, roof pitch, height, electrical, crown molding, brick work, garages, and many more other things I care to know about.
              thank you for the post . We are also considering building a modest house.

              Can anyone tell me if this seems too high ? Quote for leveling /grading a quarter acre lot is 40-45 000. Lot is slightly on incline and slightly raised from Main Street . Houses are built on both sides and I do not see any major rocks etc .
              what should we expect ?

              I hear you should expect at least 10 percent above quote . Knowing what you know now , would you build again? Thx



              Comment


              • #8
                Be aware that construction is a major cause of family breakdown. Things can and will go wrong. Do everything you can to keep your family dynamics separate from the construction headaches. If you can, mentally budget to spend 25% more money and more time over and above what you plan. There was a poster recently who became so disillusioned building their dream home that they just wanted to be rid of it and are planning to sell it without ever moving in.

                If you can stay easygoing and roll with it you can get something exceptional. Good luck.

                Comment


                • #9
                  It may be the last piece of land in the village for a number of reasons.
                  The most glaring is that you will not have .32 acres of usable space. Not only setbacks, you have easements, permits and building codes. Oh yes, the sides in the back might be restricted. Maybe the power company plants a pole right outside your kitchen window to hook you right up?
                  Make sure you can build what you want on that lot. A good realtor will guide you. The problem is solvable. Deed restrictions and the survey should be sufficient for a general contractor to look at and point out any restrictions. You can get existing “takeoffs” of a basic design and get additional inputs.
                  There are reasons it is the last. Find out why. It’s not because it is a corner lot.

                  Comment


                  • #10
                    Originally posted by sandy View Post
                    Dear friends

                    i am planning to buy a small residential corner lot in upstate NY in a rural area to built a house. the lot is approx 0.32 acres and several setbacks based on the corner lot.
                    It has been surveyed and maybe the last piece of land in the village. most of the houses in the village are ancients (built-in 1800-1880) and I do not want to go to the renovation route. I am a first time land buyer and have thought of the first time about building a house. What are your suggestions and tips so that I may not get stuck at any step? Is this a good idea for someone like me with a full-time working physician spouse and 2 kids one 7 years and one 1 year?
                    please feel free to post both practical and emotional experiences.
                    Thanks
                    032 acres is going to be small if you have easements and other restrictions. How busy are the 2 roads. Any fencing on the front allowed? With small kids playing in the front yard and two busy streets I would be nervous.

                    Why not choose a different area. I like corner lots in cul-de-sacs where the traffic is much less. You get smaller front yard to maintain and have a big back lots.

                    Comment


                    • #11
                      Therewas a thread or two about building your home and what are must have things.

                      Comment


                      • #12
                        Even if the existing homes are old some might have been impeccably renovated. I have done both and they all had their challenges.

                        Comment


                        • #13
                          Originally posted by Brains428 View Post

                          If you have any questions, let me know. I know a lot more about appliances, glass configuration, paint finishes, windows, doors, roof pitch, height, electrical, crown molding, brick work, garages, and many more other things I care to know about.
                          Do tell - is there a story behind this post? All ears here in KY!
                          Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

                          Comment


                          • #14
                            Originally posted by uksho View Post

                            thank you for the post . We are also considering building a modest house.

                            Can anyone tell me if this seems too high ? Quote for leveling /grading a quarter acre lot is 40-45 000. Lot is slightly on incline and slightly raised from Main Street . Houses are built on both sides and I do not see any major rocks etc .
                            what should we expect ?

                            I hear you should expect at least 10 percent above quote . Knowing what you know now , would you build again? Thx


                            Cost for everything is regional. Land grading and work can become expensive if there is some sort of rock underneath. There are also soil tests for appropriate compaction for building.

                            If money were no object, I would build again. It's actually pretty fun. It's just ridiculously expensive. Every little thing is an upgrade. You want a builder with a good reputation for doing good structural work, not just pretty work/or fast work. You can find that out through previous customers, and talking to the subcontractors can give you an idea of how much they like to work with a builder.

                            COVID has made things ridiculously expensive. Not sure if/when that will go down.

                            My wife has been the laid back one through all of this. I didn't realize I was as picky about certain things. Maybe it's because I'm footing the bill. Maybe it's because I'm a radiologist.

                            We decided to build because there wasn't much in the way of new construction in the city limits (or even much inventory built in the past 10 years). Also, when looking at remodels, we always ended up around the same price tag. Still more expensive than I anticipated.

                            Comment


                            • #15
                              has anyone considered a modular home and is it less involved than a stick-built home?

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