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When you decide to build a luxury custom home, the first step is often deciding where to build. Unfortunately, here in the Triangle, there is not ample land available, making it harder for residents to decide where to settle down in the home of their dreams. To learn how to build in the area, there are a few different layers to understand, including the difference between lots vs land. Below, you’ll learn more about this difference and a few solutions available so you can decide where to build your home with the help of Rufty Homes. If you’d like more information as you plan your luxury custom build, we are here to be a valuable resource for you. Please don’t hesitate to call us at 919-460-8550 or contact us online with any questions you have. Oftentimes, the terms “lot” and “land” are used interchangeably, but they are not the same things. The simple difference is that all lots can be called land, but not all land can be called a lot. Land is any property that doesn’t already have a habitable structure on it. Similarly, raw land is any property that is uninhabited and is not yet ready for building. A lot, on the other hand, is a piece of property that is currently ready for building a structure. In most cases, this means that it is already set up for utilities like electricity, telephone lines, gas, water, sewer, etc.
Lots vs Land: Understanding the Difference
While you can technically use land for your luxury custom home build, a lot is usually the better option. Since land isn’t set up for utilities, it requires more expenses to prepare the property for your build.
Lot and Land Availability - Building in Wake County
It’s no secret that Wake County is currently experiencing a growth spurt, having recently passed the 1 million resident mark, as the County grows by about 64 people per day. With so many people coming into the area, we’re experiencing housing scarcity. The Raleigh metro area alone currently has a deficit of 17,000 homes.
While the natural thought is to use available land to turn it into lots to help accommodate the lack of housing options, that’s not always possible for those planning to build a luxury custom home. Developers from out-of-state have taken notice of the Triangle’s popularity, and they are buying up available land to turn it into developments.
While this will certainly solve some of the scarcity, it doesn’t help those looking to build with an independent luxury home contractor. Fortunately, there are some alternate solutions available to you.
Solutions for Building With Minimal Land Left
When you work with Rufty Homes for your luxury custom build, we own available properties around Wake County that you may want to use for your home. There are also a few other solutions you can explore, which we are happy to help with as well.
Tear Downs
If you have your heart set on living in a certain area of Wake County, but there are no lots available to you, the best option is to tear down an old property on an existing lot that fits your criteria.
If you drive around Wake County, you’ll see that this is a popular option, with some older neighborhoods featuring new builds in desirable locations. Oftentimes, it’s easier to buy an older property in an area you love and build your own structure in its place rather than try to find the perfect lot that may not exist.
Look Outside Wake County
Are you less particular about where you live, as long as it’s in the general Triangle area? In that case, another option to consider is building outside of Wake County. If you look outside the Beltline, you might notice that lots are easier to find in the following areas:
- Chatham County
- Durham County
- Johnston County
- Orange County
In that case, it could be worth living out of Wake County to get the space you need for your luxury custom home.
Need More Help With Your Custom Home Building Project?
After learning more about the difference between lots vs land and solutions for building in the Triangle, we hope you have a better sense of the best path forward. No matter what you decide, our experts at Rufty Homes are here to help you through the process. To learn more about available lots in the area or chat with us about your ideas, please call 919-460-8550 or contact us online.
