This is a great article by Sterling Custom Homes' Angie McDowell about lot selection and the tangible and intangible cost associated with building. Enjoy.
"Prior to choosing a home site, a buyer should consider having a lot analysis performed; there is an art and science to lot selection. As a custom home builder in Austin, we physically walk the lot with the client in order to educate them on all the features and characteristics of the lot. Consideration is given for costs associated with tree clearing, sun orientation, topography, views and outdoor living environments. We help the client understand their custom home design and layout relating to all of the unique aspects of the lot.
More importantly, we provide the client a cost analysis comparing the tangible and intangible lot costs. Tangible costs include purchase price, utilities including well, septic, wastewater and permit fees, area property taxes, topography, site work and clearing based on lot grade. Other direct costs include architectural requirements such as type of windows (wood vs. vinyl), roofing (tile vs. traditional) and exterior finish. We also look at intangible lot costs such as the view, location, schools, community, amenities and lifestyle. By analyzing all costs associated with a lot we are able to create a more realistic idea of the building expenses for the specific lot.
Quite often a lot that appears less expensive can be significantly more due to septic requirements or additional slab costs caused by topography or view considerations. By performing our lot analysis we are often able to save our clients several thousand dollars and help them find the perfect site suited to their custom home design and lifestyle needs."
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