What do you need to know about searching for land?

See our “Where should YOU live?” blog for a list of things to discuss while trying to figure out where you want to live. 

Ultimately, the decision is yours and you’ll have to decide where you’ll be comfortable living and spending. Once you have figured out a general location, you need to talk to your real estate professional about cost in that area.  If your ideal location lands you in a place where property is $250-300,000 and your budget is $800,000, you wouldn’t have enough money left to build your beautiful new home.  You may need to discuss other areas where land is less expensive. 

Overstreet Builders offers in-house real estate services and can also help you find land, place an offer and obtain your property.  We will be happy to share our expertise as you begin your process.  *The added bonus is that we can package our services to offer you the best rate possible!

When you think you have an area picked out, there are many ways to find lots.  You can drive around and look for vacant property.  You can search the web for vacant property on the ever available “realtor” sites.  But know that you CANNOT just plant any house on any property that you find.

Our sister company, Greg Overstreet Realty, LLC, can also offer immense help in your search.  As a Builder / Real Estate TEAM, we use tactics from BOTH fields to identify properties that can offer you a successful build process.  (Call at 630-226-0460 x209 for more information!)

The great part about involving us in your land search is that we can work with you to identify suitable sites on the market. 

For instance, if you see a great piece of property that looks like it is a screaming deal we’re here to help you decide if it’s a screaming deal due to a really big problem or if it really is something to get excited about.  And we’ll do that before you fall in love with it so that your hopes aren’t crushed.

We’ve had instances where properties are listed very aggressively, and have we’ve been approached many times by people interested in them.  Here are some of the issues we’ve discovered: 

One needs a septic system, yet doesn’t have room for it, therefore is unbuildable. 
Another property is in a flood plain, which would be at risk for flooding, so insurance would have a hefty premium. 
Another still has soil conditions that are not suitable for building currently and would require tens of thousands of dollars in prep work to make it buildable. 

These are not things that the “average Joe” (or even some realtors) would know to look for, but as a builder / real estate company, we do… and can help avoid heartbreak and "budgetbreak", if you will!

Here’s what we offer that others cannot:   

Our team can help you identify the things above by gathering online information, using MLS resources and making phone calls to the proper channels along with our acquired real estate skill and builder experience.  Common real estate agents don’t have the know-how to navigate some of the facts.  Some builders won’t help you until you already own your property and the “issues” are on your doorstep.  Greg Overstreet Realty can tie all of these things together to make your build a success story!

So while finding property for sale may not be terribly difficult, the misconception is that it’s easy to find the right piece of land.  Lining up desires, needs and budget can be a little tricky if you don’t have a skilled professional in your corner.  “Hidden costs” can be just around the corner if you’re not carefully considering all the facts. 

Check out the section on “offsite prep” to learn more about what we mean by hidden costs and what you should keep an eye out for when searching for your new property. With the help of our experts, you’ll be looking at properties that are tangible options. 

Our goal is to learn about your needs and wants to help you set realistic expectations for the project.  We have found that more information up front leads to less stress during the project and a happier client with the overall process.  

Explore more details about Offsite Building:

  1. GENERAL LOCATION:  What do you need to know about searching for land?
  2. SPECIFIC LOCATION:  Finding the community or neighborhood you want
  3. LAND RESTRICTIONS:  Fitting a home on a property
  4. HOME DESIGN:  Home floor plan, layout and design… where to start?
  5. HOME DETAILS:  Meeting aesthetic and quality needs
  6. “OFFSITE PREP”:  What does “offsite prep” mean?
  7. TIMELINE:  What does the timeline for your build look like?
  8. OVERALL BUDGET:  The financial breakdown of Offsite Building (overview)
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Overstreet Builders

"Thank you for the quick response to our questions by providing answers and making recommendations for our “new house” needs. This is a special time for us! Our previous home in South Elgin was built by [unnamed builder] and we were delighted with their ..." READ MORE
- John and Janet Malkiewicz