Real Estate in Barrington & The Northwest Suburbs: Building Your Dream Home In Barrington & How To Choose Your Vacant Lot

Building Your Dream Home In Barrington & How To Choose Your Vacant Lot

If you have been pondering building your dream home in Barrington but don't yet have a lot there are certainly plenty to choose from. I remember about 4 years ago the average number of lots for sale at any one time hovered around 100. With 75 square miles of real estate the lots were scattered around the villages.

Today there are 194 available lots for sale in Barrington area.

So how do you choose and are there considerations today that were not there 4 years ago?

Before building your dream home in Barrington consider the following:

• What size of home do you want to build? How many bedrooms, bathrooms and for how many people to live at the home. This is important so you select lots in the right locations. i.e. a village lot likely will be too small for a home of 5000 square feet. There me be some septic system restrictions on some of the available acre+ lots.
• What size of property are you looking for. Commonly there are 1 to 2 acre lots, Barrington Hills is the place to go if you want something bigger.
• Incorporated or not? PUD or not. Typically unincorporated land will have less restriction than land incorporated into one of our villages. If a lot is in a PUD-Planned Unit Developement-there may be association restrictions that are specfic to the subdivision.
• Empty lots in established subdivisions. Consider that if the subdivision is 30 to 40 years old your home might stick out like a sore thumb. The value of your property might be negatively affected by the presence of many older homes. This is a personal consideration, it may not bother you at all.
• Flat, hilly, close to roads, backing to conservation, flood plain -all these thoughts and more will contribute to price.
• Are you prepared to tear down an old house to benefit from gorgeous established trees?
  
  

  

Considerations today.

• Lots in newly created subdivision that are filling up. If a PUD has homes already built and there is not much left to do, this might be a great time to get a lot cheaper than your new neighbors paid and you will not suffer from the previous issue of older homes. The negative factor being that usually the best lots go first. Examples of PUD that are more than half built are Magnolia Pointe in South Barrington, The Woods of South Barrington and Wynstone Real Estate-North Barrington.
  
• Lots in newly created subdivisions with little to no new homes. This is a real tricky one. There are a number of PUD's that have 1 or 2 homes and nothing else. Build your new home on one of these lots you might have some quiet years ahead of you with no neighbors. What about your lot and home value. What's happening to the other lots? Has the owner gone into foreclosure because the lots are not selling. If so the bank will likely them them a lot cheaper to re-coup some money or might sell the development. Is this for you? Examples are Tallgrass Lake Barrington, Enclave of Heritage Lakes Lake Barrington, Creekside Meadows Barrington Hills.
  

My favorite PUD which stands empty aside from a few homes. Peraino Circle in Barrington Hills is an area I am watching for a lot. I am looking to buy a 5 acre parcel to build a ranch on but the prices right now are too high. So I will bide my time and wait. If the time is right for you now, let me help you find that perfect lot. Let's bid aggressively and get you a great price.

Contact:

Corinne Guest
Barrington, IL Realtor®/ Royal Advocate Realty
Info@CorinneGuest.com
(847) 363-3686

More information can be found at my Barrington IL Real Estate website. Research all the villages of Barrington, Deer Park, Inverness and Tower Lakes. Search all the Barrington Homes For Sale with no registration required. Sign up for new listings by email.

Providing buyers agent real estate services in the communities of the Barrington Villages, Palatine, Lake Zurich, Hawthorn Woods, Long Grove and Kildeer.

Copyright 2010 Corinne Guest All Rights Reserved  - * Building Your Dream Home In Barrington & How To Choose Your Vacant Lot *