AVOID this Mistake When Buying Raw Land for a New Home

Buying raw land for a new home is a great way to get the home of your dreams but there is also a lot that can go wrong. Before you finalize your budget for the project it's important to understand something will come up that will cost you money. When I'm budgeting for a project I always add a line that is just a general buffer because I know there is a really good chance something is going to cost more than I was expecting. The amount I put in for a buffer depends on the size of the project, the bigger the project the bigger the buffer. In this video I explain why a buffer is so important and talk about where something recently came in over budget on a project I'm currently working on.

#rawland #homestead #mobilehome #newhome

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[vikingspud]

Our condo here in Manila was two YEARS late getting finished (partly COVID's fault). The rental costs were high and the embarrassment of telling our landlord over and over, "we're going to be here longer than expected.." was very real.
Always have a budget buffer!

[monicapeterson]

Thanks for the info and don't ever apologize for being honest, ppl will appreciate it! I do

[dankeller]

Always so informative. I am learning quite a bit. Thanks!

[billzhang]

Hi Kerry, How much to build a new septic system that process 5000 liters waste water per day?

[jenniferelliott]

We are located in So California and purchased a half acre and have a manufactured home on order. Are permits have been issued and the lot prep is just beginning. So far expenses are what we've expected, but know that can change. Home is due to be completed the end of June. We'll see if that date comes and goes. We have built a custom home before, but this is a new and different animal. I have enjoyed your videos. TY

[kldegeyter]

I would anticipate a budget with now price and add 10-15% to that budget, along with a buffer. Great video as always!!

[johncummings]

A common sense and rational approach to be prepared for whatever presents itself. The budget is merely a potential financial projection document that requires constant updating as more information comes to light. The cushion is an absolute necessary part of any budget. Great advice! Thank you!

[johnstancliff]

the lot is looking good. well, you have power and water.... now comes the fun

[reignjohnson]

These are really helping me! I am in the process of getting land/home. Haven't received the numbers yet for everything. 😊

[nia]

What is the cost of a building permit?

[kaykayjaxon]

Thank you for the much needed information! My husband and I have been looking for land to purchase and this video addresses each and all of my concerns as he's just ready to stake flags, plot down and go from there.... smh!

[conureron]

What’s your typical contingency for a project? 10%?

[ChristopherPisz]

Are there laws that actually required septic? Are you allowed to just poop in a bucket if you want to?

[kaseycasece]

clearing land u need this : forestry drum mulcher kubota series 95

[victoriacampbell]

Wow, Kerry. Thank you so much for these informative videos. I have been mulling in my mind about buying a piece of raw land and putting a modular single wide on it. Something like a 22’ X 50’ or 20’ X 60’ or 18’ X 65’ modular single wide with at least two bedrooms and two baths since I am single and will be retiring sometime in the next decade, I don’t think I would need a large home. Currently, I am in Southern California and their housing regulations are a bit strict depending upon the county you live in so I am also weighing moving to a more housing and tax friendly state. You have given me a lot to think about and ideas of where to start. Thanks again for your videos.
I hope the fill does not blow your budget to badly but it is good reminder for everyone to always have a buffer in your budget in case Murphy’s Law decides to butt in.😎🤔

[chriscushing]

Did you ever decide on the shop/garage? Will going over budget preclude this item? Just wondering where you were in the process with that. I don't recall if you had made a decision. Great video, as usual. I think my plans have been put on hold. Too much craziness right now.

[-darcy]

Hydro...interpretation (for non-canadians) is electric...lol

[twizteddreamz]

Budget down to the penny then + 50% of the budget = final budget

[brightkreations]

You never said that actually cost yet??😳