entry level "custom" builder suggestions

[Cameramonkey]

I might have the opportunity to buy a half acre of rural land to build a home on in either the Whitestown or Fairland areas.

I dont need a fancy house. Just a basic ranch on a crawl or slab under 2,000 sqft with a 2 car garage. And it doesnt have to be custom; can be a pre-designed floorplan.

Any suggestions? I dont need a true custom builder, because that would be out of our price range. (>$200,000 typically)

 

[amboy49]

I would do some research on the real estate tax scenario in Whitestown. My son lives within the Whitestown town boundaries and I have several friends who also own homes within the town limits. They complain often and loudly about their taxes being too high (probably a universal complaint) and that they are increased on a regular basis. Whitestown is the fastest growing town in the state. In the last half decade they have realized exponential growth due to available commercially zoned real estate, adequate new low cost (relatively speaking) housing and the ease of commute to Indy, Lafayette, and other locations via the interstate. If you have children consider that Zionsville is considered to be either the number 1 or number 2 school system in the state of Indiana and some areas of Whitestown are within the Zionsville school district. The rest are in the Lebanon school district.

I know little to nothing about Fairland so I’m afraid I can’t compare and contrast the two areas.

I’m not sure you can build a new 2,000 sq ft home with a 2 car garage for under $200,000. At $100 per square foot that puts the build at $200,000. Then start adding for new yard and landscaping and other incidentals and it will quickly add up. Perhaps in a subdivision with tract homes - I’m not sure of the house price points. There are several subdivisions with activity and new ones under development. If you don’t want to be in a subdivision you might check the county/town requirements for a home site. I think, but won’t swear, that a couple of acres or more are required to build a home “ in the country.” Best of luck in your search.

Disclosure: I’ve lived in Zionsville since 1975.

 

[Cameramonkey]

Its actually Extreme NE Hendricks county actually. Whitestown is the closest actual incorporation. A carve out from my mom's property where I grew up on just under 4 acres.

Either land will be stupid cheap due to personal connections and not included in my price above.

I'm finding home designs at various builder sites that indicate we could do it using predesigned floorplans. Just would prefer to have some personal references.

Edit: the Hendricks site I can get as much land as I need to satisfy the county to be honest.
I could always buy the entire part of the lot my late grandmother's home was on before it was torn down.

 

[amboy49]

Its actually Extreme NE Hendricks county actually. Whitestown is the closest actual incorporation. A carve out from my mom's property where I grew up on just under 4 acres.

Either land will be stupid cheap due to personal connections and not included in my price above.

I'm finding home designs at various builder sites that indicate we could do it using predesigned floorplans. Just would prefer to have some personal references.

Edit: the Hendricks site I can get as much land as I need to satisfy the county to be honest.
I could always buy the entire part of the lot my late grandmother's home was on before it was torn down.

Building site at no cost certainly changes the equation. However, if you are not going to build in an area serviced by city utilities ( city water and sewer ) then you’ll have to factor in the cost of a well and septic system. You mentioned your grandfather’s home was on the potential building site. Don’t count on either the well or septic passing current health standards and being usable. There are always attendant costs in building a new home people don’t realize if they’ve never been through the process. You’ll need to most likely obtain construction financing, pay interest during the construction process, and then convert to a permanent mortgage. A lot of banks aren’t real thrilled about making a construction loan since a partially finished house is actual a liability until finished. If you are going to try to go through with that process I’d check with a local bank. I.e. Hendricks County Bank and Trust, State Bank of Lizton, North Salem State Bank, etc.

You may or may not be able to convince the bank that the real estate can serve as part or all of the needed equity injection. This can also be problematic when converting to permanent financing since most amortizing loans are sold on the secondary market and have to fit a rigid set of criteria. If it were me I schedule a visit to a local bank mortgage lender and explain what you want to do. Let them school you on what is and is not realistic.

 

[Tactically Fat]

floorplans.com is a really cool site to brows through. I believe you can set up an account and then "save" plans to your account so you can look at them later.

Can sort by all manner of things, too. Especially by # of beds / baths and total Sq. ft.

 

[natdscott]

Get a rural-ish builder to go build closer to the city, rather than a city builder go build further out.

 

[jkaetz]

We looked at Drees and Davis last year before we made a purchase. Both will build on your site and i believe take care of the financing for you. I also think they will give a free survey/estimate of your site.

 

[Trigger Time]

For Fairland shelbyville has been annexing the crap out of as much as they can for tax revenue ever since they built that casino. They are forcing most in the area to hook up to city water and sewers too ive heard. So be aware that if you buy property with septic and a well, which 1/2 acre is the absolute minimum youd want for septic, then just know you may be forced to pay thousands of dollars in the near futire to hook up to main lines.
But the area is great. And also great school or so ive heard.

 

[Cameramonkey]

Thanks for the heads up TT. And school district quality isn’t an issue. We homeschool.

 

[Trigger Time]

Thanks for the heads up TT. And school district quality isn’t an issue. We homeschool.

Thats awesome!!! Good for you guys seriously.
No problem. I always hate unexpected bills for thousands of dollars, figured you might also
You could easily find that out ahead of time though. The area you are looking at may be far away from all that, but if it were me Id knock on afew doors in the area to find out. People are friendly out there.

 

[Tactically Fat]

They are forcing most in the area to hook up to city water and sewers too.

As an in-general FYI: This is something that's coming (maybe mandated?) to everyone eventually. It's not just certain places that are doing it.

 

[WebSnyper]

Thanks for the heads up TT. And school district quality isn’t an issue. We homeschool.

But school district quality does tend to help property values.