That one has no backyard.
The price on this land is too high.
Why can’t I find a lot that’s just right?
Does looking for a lot to build your home have you feeling a bit like Goldilocks? If so, you’re not alone.
If it seems that the perfect lot, in the right school district, at the right price, with all the amenities you desire just isn’t out there – it may not be.
You may find that the purchase price plus the cost of site work and home construction exceed your budget. If this is the case, you may want to assess your priorities.
Oftentimes a lot that appears less than ideal can be optimized to achieve your dream. Working with our home designers and civil engineers we can help you realize the full potential of your property. A large rear deck, for instance, may be the perfect substitute for the patio you had in mind.
Don’t Miss Out! Make An Offer
Reasonably priced land is selling quickly these days, particularly in popular areas. 9209 Winterset Dr in Potomac sold after only a couple of weeks on our website. Soon after, both lots at 9000 Marseille Dr in Potomac were also under contract.
If you’ve been seriously considering a particular lot, don’t assume you’re the only one. Once you see the listing switch to “Under Contract”, it’s usually too late.
Some land sellers are stubbornly firm in unrealistic prices, but most expect to negotiate. If you’re really interested in a property but feel the price is too high, go ahead and make an offer. It gets the conversation started and lets the owner know you’re serious. Generally if the seller isn’t amenable to your price, they’ll come back with a counteroffer.
We’ve seen fairly consistent pricing on property in several of the zip codes most popular with our customers. Below we’ve provided some details on the trends we’ve seen lately in a few of them.
Bethesda, MD 20814 – We’ve built several homes in the 20814 area, with new projects currently underway on Grosvenor Ln and Dickens Ave. Small teardown lots in the area were selling in the $600Ks for quite awhile. Things look to be trending upward, with teardowns mostly starting in the mid to upper $600s, and new builds selling from $1.2M to well over $1.3M.
Bethesda, MD 20816 – The Bethesda lots in neighborhoods along River Rd and Massachusetts Ave can accommodate larger homes, but are priced accordingly. While prices vary slightly from one subdivision to the next, expect average size lots in this area to start in the upper $900Ks. Recent resale prices in 20816 easily range from $2M to over $4M.
Visit Our Bethesda Tear Downs page, an MLS saved search of resales priced low to high ->
Potomac, MD 20854 – Price is in Potomac, MD can vary quite a bit, based largely on neighborhood, school district, and lot size. We find neighborhoods with new builds or existing estate homes sell quickly and at higher prices. Teardown lots in these subdivisions are likely to start in the $800Ks and range to over $1M.
You’ll find the more reasonably priced lots in Potomac are in great neighborhoods where teardown and rebuild trends have yet to begin, due to the resale value of existing homes. In these subdivisions you’ll find lots starting in the low $600Ks.
Visit our Hot Lots page for a variety of available 20854 properties, starting at $565K ->
Would you like assistance finding land to build with Classic Homes? Give us a call at 301-256-4110, or fill out the Land Seekers form on our website.