If you are hoping to build your dream home, you are likely in the market for a residential building lot where your home can be erected. The lot you select could have a significant impact on your ability to construct the home you desire, so it's important that you do your research before finalizing an offer on land. Investigate the following three factors to help you determine which lot is right for your new home.

1. Surrounding Area

It's essential that you check out the surrounding area before you invest in a residential building lot. The area around the lot will provide a lot of information about the future of your property. It's important that you review certain questions. For instance, is the lot part of a suburban development? Has the lot been rezoned from agricultural to residential? What types of buildings are nearby? All of these questions will need to be answered before you can properly evaluate a building lot.

2. Site Condition

Some buyers don't complete as thorough of an inspection when buying a residential building lot as they would if they were purchasing a home. This can be a costly mistake. To prevent this from happening, you should walk through every inch of the lot before you put in an offer. This inspection will reveal any site condition issues that might interfere with the plans you have for your future home. By doing so, you may uncover something like a stream that limits your construction area. Likewise, you may find an environmental problem that has affected the quality of the soil.

A thorough inspection of the site condition will help you avoid any costly surprises once you complete your purchase and begin the construction of your home.

3. Access to Utilities

Another important thing to research before placing an offer on a lot is the available access to utilities. You will want to know if electricity, water, and sewer are available at the site. If they aren't, these will be additional costs to factor into your budget when building your home. Any utilities that are not already present on the lot will be your sole responsibility once the sale is complete, so you must be fully informed before you buy your building lot.

If you plan to have a septic tank installed on the property, for instance, the lot will need to undergo a percolation test to determine if the soil conditions will allow for a functional drainfield.

The wrong building lot could prevent you from establishing the home of your dreams. Take the time to thoroughly vet each lot before making your final selection. For more information about lots for sale, contact a contractor.