In these types of transactions, the target buyer is a builder. When a builder is looking for a lot, they are not looking for things like a kid-friendly backyard, kitchen, storage space, pretty bathrooms or faucets. What they are looking for are things that are directly related to the building cost.
Example 1: Elevation of a lot. A lot that is located on an uphill section of the street yields a different cost compared to one that is on a downhill area. The uphill section of the street requires more material and manpower for the foundation to be built which decreases the profitability of the lot compared to a lot on a downhill area.
Example 2: Location of sewers. If the basement of a building is lower than the sewer, a pump will be required to direct wastewater in order to avoid building floods. A generator will be needed for the pump and this lowers the value of the lot.
Example 3: True property lines. It is always important to know what’s yours and what’s not yours. Even though a fence may already be in place, it may actually be on your side, or the neighbours. Knowing where your property truly starts and ends can alleviate many disputes that may arise in the future that may slow down the project.
Example 4: Alleys. Having two access points (alley and front of lot) makes the building process a lot quicker and cost effective allowing the machinery to be brought in from both ways. What if there was no alley? The cost of building the backyard will most likely be double as more manual labour would be required to move materials in manually vs having a truck drop them off.
This is where a Site Survey comes in handy. Site surveys map out features such as change in elevation, trees on site, drainage systems, unknown obstacles- things builders need to be aware of before starting construction to create a safe, accurate structures.
There are many variables that can cause the price of the lot to fluctuate and a site survey will provide builders with the necessary resources to help them make a quicker decision and to provide you with a higher value property as it removes the if’s and buts. All you have to do is call a land surveyor in your area to have it done and you will gain a powerful marketing tool for your property.
Alternatively, you can email or call Residencity at 604.288.9166 to list with us. Every lot we list includes a site survey and the best part is, the cost of getting it done is on us.