Phoenix is home to one of the United States’ hottest housing markets.
Experts are predicting a 25% spike in the housing market over the course of a mere 10 months.
You deserve the best, and owning a custom home brings so many benefits.
This makes building a luxury home a great idea.
Buying vacant land and building a luxury home is a process that we’re happy to explain.
Here’s your comprehensive guide when you’re looking to buy land and build a luxury home in Phoenix.
Know Why You Want to Build a Luxury Home
The process will depend on your reasons for building a luxury home.
Get clear on this early in the process so you can begin planning and mapping out your decisions.
Here are some of the many reasons that people build custom homes:
- Access to more sustainable products, appliances and fixtures that are Energy Star certified
- You get a one-of-a-kind home that has the finest amenities
- These properties can retain value and equity over the years
- Building brand new gives your home more longevity
- It’s a dream home that rewards your hard work
- Luxury homes use the best building materials and sophisticated designs
- This investment gives you more financial flexibility
No matter your reason, clarify it early as you do your research.
Study the Best Areas in Phoenix
Once you know why you want to build a custom home, it’s time to choose the ideal location.
Phoenix happens to be filled with them. This city has excellent outdoor life, plenty of exquisite dining, entrepreneurial and business opportunities, and access to nature and recreation.
Scout the areas that fit your lifestyle and needs so that you can build your home in the ideal area.
Here are some of the hottest neighborhoods and districts in Phoenix:
- Paradise Valley
- Downtown Phoenix
- Central City
- North Mountain Village
- Desert Ridge
- Tatum Ranch
- Sonoran Foothills
Learn the attractions and benefits of these areas and study the property values.
Keep tax implications in mind so that you can better calculate the total cost of ownership.
Get Your Finances and Credit in Order
You have to organize your finances whenever you’re planning to build a home.
This will let you get the best deal when you’re ready to pay for both the home and the plot of land that you’re buying.
Take your income into account, and put together documents, such as past tax filings, bank statements, and other proof of income.
You should also work to get your credit score in the best possible position prior to approaching the purchase.
This will help you get the ideal interest rates available so that you have no problem paying for the home over the years.
Find Land for Sale
Looking for land is just as important to the process as anything else.
Start looking into available sites so that your new home is situated in a prime location.
Figure out how many acres you’d prefer, and figure out what that will cost depending on the area that you choose.
Land is much harder to come by, so you should secure it as early in the process as possible.
Knowing how to buy land will also help you to negotiate so that you’re able to make your money go further.
A luxury home should also have plenty of yard space, so do your best to find the ideal situation.
Work With Luxury Home Design Professionals
Now that you have a clearer idea of what you want, you can begin working with luxury home design professionals that can help you bring it to fruition.
They will take your criteria for bedrooms, bathrooms, square footage, and other features, and will create a layout that you’ll appreciate.
These professionals will draw up floorplans and 3D models of your dream home, giving you the chance to make tweaks and sign off on the things that you like most.
They’ll also help you play around with some popular homestyle options, including:
- Greek Revival
- French Country
Having these plans handy will let you put the project together with the best builders in Arizona.
Hire the Best Team of Builders
Find the help of some certified builders that are great at what they do.
Make sure that they specialize in luxury properties so that you get the details and features that make these properties unique.
Consult with about three different builders until you feel comfortable with their ability to keep the project on track and handle everything from the foundation and electrical wiring to the installation of a roof and windows.
They’ll also assist you with things like building permits and inspections so that every part of your process follows Phoenix building laws.
Work with real estate legal professionals so that all of your paperwork is in order.
You’ll also need to get a final inspection from your builders so that you can occupy the home once it’s complete.
Choose professionals that are great about giving updates on the process so that you are always informed and in the loop on every part of it.
Buy Land and Build a Luxury Home in Phoenix
The points above will help you buy land and build a luxury home in Phoenix.
It’s the best time in years to buy property in Phoenix, and building a luxury home will let you experience all of these advantages and then some.
Let 4 Gen Homes help you out. Use our contact form or call us at (602) 694-7030 for additional information.
Ready to build your dream home? Work with a luxury AZ custom home building company that provides the expertise and integrity you require for this project. 4 Gen Homes has been serving and supporting valley homeowners for 20+ Years with custom home building projects and luxury remodels. Contact us to set up a consultation. Call (602) 694-7030 today!