How do I go about buying a lot, and then building a house on it, in the Greater Los Angeles area?

Question

We've been in the market for houses for the greater part of the last two years, and then I read this:

http://dsc.discovery.com/news/briefs/20060529/zeroehome_tec.html

I am amazed that this is an option (or soon to be) in the housing industry. I am looking for some answers that will guide me on who to contact (local gov't offices, private companies, etc.) officially about these types of purchases. I am not even sure there are empty lots available for residential purchase, since most of the empty lots I see are aimed at businesses.

Basically, I just want to know if this is a feasable alternative to just buying a house.

Thank you very much.

Answer 1

There are three initial steps to answering this question.

Step One:
Speak to a lender to see how much you qualify for. You'll need a construction loan as well. They can answer your questions.

Step Two:
Speak to a Realtor in your area to find out about available lots and if it makes sence to try to build.

Step Three:
Speak to a couple of builders to get estimates on cost and timelines for building a home.

Good luck

Kevin
http://www.kevinscolastico.com

Answer 2

if your question is how, start by contacting a real-estate lawyer

If you question is if it is feasible, then probably not

1) the land owner wants a profit, whether he sells to you or a contractor

2) if you have no experience, you open yourself to getting ripped off many many times over

3) I will use a car as an example. If you walk into a car dealership and buy every piece for a car, say a ford escape, even if you knew how to put it together, it is going to cost a hell of a lot more than just buying the preasembled ford escape

you should really do a lot more research before undertaking this venture

I knew a guy who's dad did this, however he was in the "industry" and got alot of the work done at a discount

He was also smart enough to go to europe for the summer & let his son (my buddy) put up with the headaches that the subcontractors caused him

Answer 3

I stay right here. particular, there are a number of those photographs right here that relatively exist. i'm happy, yet I actually have a cat and a Honda Civic-no longer a small dogs and a rapid(er) motor vehicle. the climate is powerful lots of the time, yet there is no longer a star or starlet on each and every nook. that's exciting. Why no longer come on down and a minimum of bypass to the area that can assist you're making up your innovations?

Answer 4

call a realestate agent and see what is availible. then find a morgage company that will finance you. i have worked with a great team of morgage agents. their names are nela and thain. their # is 1-866-205-9149 ext.3007