Home sales in North Dakota and across the country went up in 2020. For most people, choosing a new home means answering a lot of tough questions. For example, people need to decide whether they want to buy an existing house or buy some land and build the home of their dreams. There are pros and cons to both of these options.
Determining what’s most important
Having a clear idea of what you’re looking for is very important in making this decision. Some people dislike all the rules that can come with an HOA. Others enjoy the perks that planned communities governed by HOAs can provide. For example, some communities have tennis courts that everyone can use. There might also be ponds or running trails. Many planned communities are designed to be very walkable.
By contrast, for people who are outdoorsy, buying land in North Dakota and building a house can be ideal. It often puts them in close proximity to many great hiking and biking trails. There’s also the privacy factor to consider. Being on a lot of one or more acres provides growing families with plenty of room and helps eliminate disputes with neighbors by not sharing any walls.
Building a new home is a lot more work, however. It involves lots of contracts, from purchasing the land to hiring builders.
Getting help with the legal details
Anyone who is considering building their own place should contact an attorney who has experience with real estate law. Legal professionals know what to look for in a contract, so they may be able to help you avoid some expensive mistakes.