The new home search can be exciting, stressful, frustrating, joyful, and any number of other emotions both good and bad. When you’re in the market for a new home, you’re looking for more than just a place to live; you’re searching for a place to call home. Home is where you will make memories, gather with family and friends, and enjoy a quiet retreat from the busy world surrounding you – so it’s no surprise that choosing one is no small feat.
Buying a new house may seem like a challenging process, but it’s one that will end in a reward that’s more than worth it: the home of your dreams. One of the biggest decisions you’ll have to make on your home search will be whether to choose a standard, builder-grade home or a custom build-ready homesite. If you’ve found yourself weighing your options to determine the best route, understanding exactly what a homesite is can help you see its many benefits.
What is a homesite?
A homesite or lot is a building lot zoned for a residential property. Most buyers that purchase a homesite will construct a custom home on the land, opting to take a different route from the traditional, builder-grade homes you can find in standard residential communities.
Are Homesites Expensive?
Much like any new home, the price of a homesite can vary considerably depending on a range of factors. Location and lot size are two key determinants in the price of a homesite, with desirable locations and larger properties typically driving the price higher. However, many people find that the cost of a homesite (and constructing a custom home) is more affordable than they first thought. Because you have a significant amount of say through the home construction process, you can reduce expenses as needed to fit your budget.
Are Homesites a Good Real Estate Investment?
Purchasing a homesite is likely one of the biggest investments you’ll ever make, so it’s understandable that you want to be confident in your decision. In general, purchasing a high-quality homesite in a well-designed community and desirable location will ensure a solid, long-term investment. Regardless of whether you decide to construct a custom home or simply hold onto the land itself, the value of an excellent homesite will typically follow the market very closely.
What Are The Benefits of Buying a Homesite?
If you choose to buy a homesite over a traditional new home, you’ll be benefiting in more ways than one. Here are just a few of the pros of purchasing a homesite:
• You’ll be able to build the home that fits your lifestyle. Anyone who’s gone through the home-buying process knows that there are often compromises that must be made. Builders typically make their best attempt to create floorplans that are universally appealing, but a house can never be one-size-fits-all. As a result, there are often areas where you’ll simply have to settle when you buy a regular home – an awkward kitchen layout, a too-small guest room, not enough patio space, etc. But when you buy a homesite, you’ll be able to create a custom home that perfectly fits you, down to the smallest detail. Having the freedom to design a space to suit you and your family will make it possible to create your dream home.
• You’ll be able to work with your budget. Buying a homesite puts you in charge of the building process, making it easier to stay on track with your budget. In a traditional spec home community, there’s next to no wiggle room in the price of a new home. However, constructing a custom home on your homesite allows you to pick and choose where your money goes. You’ll be able to prioritize your expenses and decide where to cut costs, making it easier to stick to your budget in the long run.
• You’ll enjoy incredible pride of ownership. Deciding to purchase a homesite and build a custom house is choosing to undertake a labor of love, pouring your heart into creating a home that represents your style and personality. When it’s complete, you’ll be able to take pride in the finished product and enjoy it as a testament to your hard work and vision.
What Happens After You Buy a Homesite?
Once you purchase a homesite, your next steps depend largely on the property you have selected. Some communities place a strict time limit on the building process, meaning you’ll need to move quickly to complete construction on time. However, other communities take a more flexible approach, letting property owners build on a more mindful time limit like Mystic Heights allows.
For example, at Sedona’s Mystic Heights, a homesite owner in this community can move through the construction process within a 18 month time frame (per Sedona building permit guidelines), giving you ample time to create you dream home. You can even preserve the property in its natural state as is to use at a later time. It’s important to research whether your prospective homesite comes with any sort of time limit to build, then decide whether that might be a deal breaker for you.
How Do I Choose a Homesite?
Everyone has different priorities when it comes to purchasing a homesite, but there are a handful of characteristics you’ll find in all high-quality options. First, you should look into any building limitations a certain homesite may have. For example, if you’ve dreamed of building a three-story home, you’ll want to avoid properties with specific height restrictions. At the same time, know that some building limitations are designed to preserve the good of the community, whether the goal is preventing obstruction of scenic views, creating a cohesive look, or some other reason.
Another important consideration is the overall design of the community: does it attempt to fill every square foot by cramming in far too many lots, or is the number of lots limited to allow for ample building space? In terms of investment value, a spacious lot in a thoughtfully-designed community will nearly always fare better. Also, keep utilities in mind. Some communities offer pre-installed utilities to the lot line, which will drastically reduce hassle and cost during the construction process.
Finally, consider what your day to day life might look like at the homesite you’re considering. Are you near enough to amenities for convenient access, but far enough away to enjoy a peaceful retreat? Can you enjoy your home and outdoor space for years to come? These questions can help you narrow your options and find an ideal match.
Mystic Heights: Luxury Homesites in Sedona, Arizona
Making the decision to purchase a homesite and build a custom home is one that will change your life forever – make sure you’re choosing a future you’ll truly love. Mystic Heights is a gated community located in Sedona, Arizona, offering a limited number of homesites. Surrounded by national forest on three sides, Mystic Heights is a community crafted with the utmost care, designed to provide every homesite with generous building space and panoramic views of the majestic red rocks. Here, you’ll be choosing a homesite unlike any other you’d find anywhere else.
Contact the Mystic Heights office today before all homesites are purchased and learn more about why there’s no better place than here to call home.