When a home buyer is looking for a home, there are many choices to make. Future home-owner has to decide if a home going to older home or new construction.
When going the new construction route, the home-buyer can choose the location, the subdivision, the floor plan, also the finishes inside the house.
Buying a New Conctruction in a New Subdivision:
But some people do not want to live in a subdivision. There can be many reasons. One of reasons is that subdivisions usually have a Homeowners Association (HOA) , and some people don’t want to be a part of HOA. Some people don’t want to live in the neighborhood when all the houses look a like.
Buying a Residential Land Lot and Building a House:
So, when a home-owner wants to build a new house, but does not want it to be in a subdivision, there is another way to get a new construction home. Some home-buyers buy a residential land lot and build one of a kind home.
When looking for a land lot to build a home, location is the most important factor.
I looked up some information on our local MLS – Realtors® of the Palm Beaches and Greater Fort Lauderdale. And from information I gathered I was able to make this table above.
There are 331 residential land lots for sale right now in Broward County, Florida. The min listing price is $19,200, and max is $10,749,000. Out of all residential land lots for sale, the median listing price is $520,000.
Out of these 331 residential land lots available in Broward County, about one third are waterfront. Waterfront can mean anything with water – canal, creek, intracoastal, lake, etc. So, there are 127 residential land lots have some kind of water view. Min listing price is $50,000 which is much higher when comparing with a lot without water view. Max price is $10,749,000. Median listing price $1,125,000 for a waterview lot, which is also much much higher than non-waterfront land lot.
The information that I got to make this table above is from my local MLS – Realtors® of the Palm Beaches and Greater Fort Lauderdale. The information is deemed to be reliable but not guaranteed.