Part of the home building process is selecting a lot within the community you’ve chosen. There are certain things you need to know about selecting a lot, and if you’re not familiar with the process, it can feel overwhelming.
This article will help you understand how lot selection works and how you can select a lot that’s right for your family.
Lot Basics
The lot is where your home will be built. Aside from the home itself, it encompasses the front yard and driveway and the backyard. In general, you’ll find that lots in a community are fairly uniform, especially when you look at the lots next to each other on the same street.
However, there are certain cases where you might have a bigger or smaller lot.
For instance, lots located at the end of a cul de sac are, in most cases, pie-shaped, which means they’ll have a slightly larger backyard. In some cases, this could also mean that lot can accommodate a wider home.
“Corner lots” - found where two roads meet each other - also vary slightly from the other lots on the street. They can be bigger or smaller than other lots.
Walk-out lots are just that - a lot where you can 'walk out' on ground level to the backyard from the basement. In this case, the front of the home is higher than the back, which usually means a fairly steep incline along the sides of your home.
The location of a lot can give easier access to certain amenities. Some lots might be close to a playground or community pond. Others might be closer to the entrance of the community, possibly providing faster access to major highways.
The key thing to remember is to find one that gives you what you need.
Lot Requirements
The lot you choose could have some restrictions. For instance, there are usually regulations regarding the placement of the home on the lot. There needs to be a certain amount of land surrounding each side of the house. The exception here would be a zero-lot-line home, but that's not the norm.
If you’ve ever noticed that houses on the same street are all set at about the same distance from the road, this is the reason why. These regulations mean that only a certain type of home can be built on certain lots. Once you choose a home, your builder will indicate which lots are available for that particular style.
Most communities also have rules against having two similar looking homes right next to each other, or two with the same exterior colour, things of that nature. If someone else has already secured the lot next to yours, you may not be able to build the same model as theirs on your lot, or you may be limited in your colour and design options for the exterior of the home.
The Cost of a Lot
It’s important to note that the cost of the lot is separate from the cost of your home. However, it is included in your mortgage amount, once you've chosen your lot and model. You need to factor this into the budget when you’re making the design selections for the home.
In general, lots of a similar size in the same neighbourhood will have the same cost. Lots that are more desirable (i.e. ones that are larger or have a prime position) will cost more. You’ll also usually find that communities which are closer to the city tend to have more expensive lots. Your builder will help you understand the costs involved with different lots for the communities that interest you.
Selecting Your Lot
Lot selection is a very personal thing, and there’s no single style that’s better than all the others. It’s all about what your family needs. If you’re looking for a big backyard for the kids, you’ll want to consider a pie-shaped lot or look exclusively in communities that have larger lots. Some people want to be close to the playground so it’s easy to meet up with friends, while others want to be far away from any noise. If the community features hiking trails, you might want to select a lot that has an entrance to the trail.
You’ll also want to think about how your home will be situated on the lot. East-facing windows, for instance, will get morning sun, so they might not be a good choice if you don’t want kids to wake up at the crack of dawn! The south-facing windows will get more light. You can make use of this for greater energy efficiency.
Don't forget to think about things like your garage placement as well.
Securing Your Lot
Once you’ve decided on a lot, you’ll need to have a down payment to reserve the lot. Fortunately, you don’t have to have made all of the design decisions about your home at this point, but you should know which home model you want to build to be sure you can place it on the lot you’ve chosen. A Sales Representative will help you understand the lot reservation process.
The right lot will play a big role in your future happiness, so take care when selecting a lot for your home. If you have any questions about what you need, our trained professionals can help you make the right decision for your family.
