New Residential Construction
It can take more than 5 years and at the same time, can be very expensive on your part to process entitling lots. It can already run you at around 100000 already for the cost of parcel maps for 5 lots or less. On the other hand, tract maps for greater than 5 maps is going to cost you half a million. The potential size and the number of lots are determined by health department regulations, zoning and general plan as well as biology. Included in this cost are the processing, regulatory fees, engineering and several other studies and reports.
Studies and reports at the same time include storm water treatment, approval cost, archeology and anthropology, soils, biology, traffic and noise. As soon as the map is approved and recorded, there are various fees that need to be settled including but not limited to potential greenhouse gas studies, on and off site mitigation land, school fees, recreation and park fees, physical secondary access, annual bonding fees, fire fees and drainage and retention basins.
Politics then come into play when you are trying to acquire the approvals required from city councils, county boards as well as planning commissions. The level of support or opposition will affect the hearing completion. And whether you believe it or not, this can be done in as short as 4 months or even take years and could cost to over millions of dollars. For this, property owners have 3 options to take into mind and these include:
Number 1. Sale and entitlement of the property as is - in this option, it is bringing the lowest price but costs the least and also, requires shortest time for disposal of property. On rare circumstances, the land has higher value when it's not titled. Check out http://builtbyadam.com/about/ if you need good home builders.
Number 2. Enter into long term agreement - here, the arrangement is made with the home builder who incurred the expense of processing the tract map. As a matter of fact, this option is the more preferred by many but the process may take up to 5 years. The buyer also has to periodically release nonrefundable deposits to the seller after approving contingencies. For the escrow closing, this normally takes place after the final or tentative map approval.
Number 3. The owner will incur the cost of entitlement - most of the process is like second option but the difference is that, the owner bears all the expenses and has better control of the mapping. As for the ramifications for every choice, it should be done carefully and be weighed before you come up to a decision, which is also crucial in an effort to avoid getting into problems down the road. Visit http://builtbyadam.com/new-homes/ if you need to hire professional home builders.