Properties in Chittenden County and surrounding areas have been selling fast in recent months as we have seen an influx of new people moving to the area. Buying a home in a seller’s market can often be a stressful experience with multiple offers and bidding wars becoming more commonplace.
An alternative option for homebuyers to consider is purchasing vacant land and building a new home. While the availability of land is not removed from the inventory shortage seen in the housing market, most vacant land is on the market for longer time periods and sees fewer competing buyers. As of today, there are 64 vacant lots available for sale in Chittenden County.
There is a lot to consider when purchasing land other than just price and acreage. Infrastructure costs such as land clearing, cutting and filling, driveway, septic design, well, and bringing in utilities can quickly turn a property that looked like a bargain into a money pit. When purchasing vacant land, it’s important to work with a real estate agent who has experience in land development and new home construction. Through my real estate business paired with my family’s 3rd generation building/remodeling company, Tom Moore Builder, I can provide a turn-key experience for buyers looking to purchase land and build a new home.