If you’re considering building your own home in Pemberton it’s good to have a plan in place as soon as possible. One of the first considerations is the location, and more specifically whether you’re looking for a vacant plot of land or if you are considering a teardown.
Both solutions have their pros and cons so we spoke to our Realtors about what each option entails.
One of the biggest factors to consider when buying a property is your preferred location. There are quite a number of vacant plots located in Pemberton, however, these are all located out of the main hub. If you’re looking to build a property closer to town or in a specific neighbourhood, this is where a teardown will be the best option.
When considering access to all the utilities you need, a teardown is a safe bet as there was already a residential property there. You will, however, need to arrange for each utility service to be disconnected from the old property before you demolish it, then hooked back up later.
On the other hand, ensuring your vacant lot has access to all the utilities you require should be a priority. This can sometimes be difficult in more remote areas and in some cases you may have to pay a higher price in order to get certain utilities hooked up to that area. That being said, Pemberton’s vacant lots are all usually well connected, but be sure to speak to your Realtor about the specifics.
Many people will opt for a teardown after doing the math and discovering that the cost of buying a home to renovate vs pulling it down and building from scratch is around the same price. However, there are additional costs to consider before starting to build your own home.
Demolition alone can be anywhere between $6,000 to $15,000, and on top of that you need to factor in utility cut-off fees, safety inspections, and permits etc.
A vacant plot of land will also require some costs prior to construction though, including soil tests and right of way easements etc. However, on the whole, it is generally more expensive to tear down an older home than build on a plot of land. Both options are very difficult to obtain financing for, so you will need to explore your options.
Zoning and Regulations
Regardless of the type of land you buy, all plots are subject to zoning laws and it’s essential to understand these rules before buying. When buying a teardown you can be more or less certain that you’ll be able to build considering a home was already there, however, there are still some restrictions in Pemberton.
Depending on where you choose to buy in Pemberton you can expect to encounter a range of restrictions and codes, so be sure to do your research and speak to your Realtor to ensure what you are planning is definitely possible.
When it comes to building your own home there are always complications that may or may not arise. Major issues that can disrupt a teardown include the discovery of toxic materials such as asbestos, damaged foundations and in some cases damaged utility lines, which all need to be replaced or repaired.
With vacant land, you might find that the soil is not suitable for construction, or that it is difficult for construction workers to access the site.
With both options, there are many aspects to consider, though the location is usually the biggest factor. Once you make your decision you can start to build out a solid plan from there.
For more information on buying in Pemberton, get in touch with one of our Realtors.