4 Lessons Learned: Construction

What to Consider For New Residential Construction Lot entitlement is a lengthy process that may last five years or more, this can also be an expensive endeavor Property mapping for a maximum of five lots is approximately $100,000. As for those that exceed five lots they can be charge for $500,000 or more. The determining factors of lot size and the number of lots are as follows: health-department regulations, the zoning and general plan, slope and biology. It is also a must for you to include the fees in processing, regulatory fees, different reports and studies conducted and other relevant fees. The reports that are conducted must include the approval costs, anthropology and archeology, soils, noise, biology, traffic, and storm-water treatment. If the parcel maps are already approved then you can expect additional payments that are not just restricted to the following: – Researches involving greenhouse gas
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– Drainage basis which regulates stormwater runoff
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– Be certain whether the area is a mitigation land – Fees that has something to do with school – Fees that is related to recreational activities – Relevant details concerning physical secondary access -Fire protection services fees – Annual bonds that must be paid Compliance of requirements and approval of people from planning commissions, city councils, and county boards has something to do with political relations. The process will be completed base on the level of approval and opposition that you were able to get. The expenses might be up to a million dollars or more, this could also take place for a span of four months or years. There are three things that property owners should take into consideration. 1. Property is sold without changing the entitlement – This kind of option will not require to you to shell out significant amount of money and this could be sold for a shorter duration but you can’t expect to obtain greater amount of money once the property is sold. In some cases, it would be a better option not to undergo any entitlement since the property can be sold at a greater price. 2. Acquire long – term agreements – This is a type of contract that has something to do with the home builders who will take charge of the property mapping. This is the most sought after option made by everybody. The process is quite lengthy, this could last for up to five years. Once the contingencies are approved the probable buyers is oblige to give non – refundable cash deposits periodically to the seller. The ownership of the property will only be transferred after the tentative or final approval of the parcel maps. 3. The owners of the property will shoulder all the expenses related to the process of entitlement – The whole process is comparable to the second option. The different between this option and the second one is that the owners will be the one who will process everything and all the payments.