My significant other and I are personally owner-building a home on the Saanich Pennisula and I'll post regular updates and commentary on the progress in this thread. Please feel free to provide comments and opinions on the progress.
The first part was buying the building lot. We ended up with a slightly slooping 1/2 acre with all services at the lot line (gas, storm, sewer, telecom, water, hydro).
Video Commentary Part #1 -> http://youtu.be/fNkX...l2gbHaAdo-TxMxQ
Due diligence that should be done before buying a building lot (this is a non-exhaustive list; always consult a real estate professional and seek legal advice when purchasing a specific building lot).
· Check local zoning bylaws to make sure you can build what you want in terms of home location on the lot, size of home, height, lot coverage, secondary suite, tree-cutting, etc. Make sure you are aware of all restrictions which may impact your build.
o First and foremost make sure lot is buildable with municipality.
o Obtain list of permits and fees required.
· Check that the lot has utilities available (sewer, storm, water, gas, hydro, telecom, etc.).
o Check the associated connection fees.
· Check the title
o Are there any easements, rights-of-way, easements, protective covenants, or other legal notations on the property?
§ If yes, consult a lawyer.
o Is it freehold or bare land strata?
§ If bare land strata familiarize yourself with the differences and the ramifications of bare land strata versus freehold.
· Verify taxes applicable with accountant.
o Is there GST, and or other taxes, applicable to the purchase?
· Verify with lending institution that financing will be attainable for the desired build.
o Can you afford to build a home once you’ve purchased the lot?
· Questions for yourself.
o Have you considered sunlight exposure and all four seasons?
o What changes are likely to occur in the area over the next several years? (housing developments, roads, traffic). If the property has a view, is there a possibility the view might be affected down the road?
o Distance to work, schools, medical care, etc.
Edited by MarkoJ, 06 November 2014 - 11:20 AM.