The Minneapolis suburbs are a fantastic place to build your custom home. Selecting and purchasing a lot for your new construction represents the first major commitment to making your dream home a reality. Every neighborhood has a distinct character and comes with its own unique benefits and amenities. Location is both hugely important and hugely personal. It is one of the few things that cannot be changed about a home and is therefore a cornerstone decision in your custom home journey.
Derrick Custom Homes has been planting thriving neighborhoods and delivering stunning custom results for more than fifty years. We understand both the changing circumstances of the current market and the time-tested practices that work and have helped countless families find the perfect place to build their new homes. We’re happy to share what we know so that you can start your custom home journey with the best information possible.
What Do I Need to Know About Buying Land in the Eastern Minneapolis Area?
Some of the first questions people interested in buying land and building a custom home have are related to costs. Understanding these costs when getting the land ready to build will help ensure your expectations match your budget.
How Much Does it Cost to Buy Land in the Suburbs of Minneapolis?
Land is priced very differently depending on its location, size, and zoning. When we’re asked what it costs to purchase an acre of land in East Metro, the very unsatisfying answer is, “It depends.” Proximity to desirable amenities, school district, frontage, and suburban versus rural location can heavily impact a lot’s price tag.
A good general rule of thumb is that an acre of land in a new development in the suburbs costs between $500,000 and $800,000. Of course, many lots measure significantly below the one-acre mark and are priced accordingly. For example, lots in most of our recent neighborhoods ranged from $75,000 to $190,000. Check out some of our latest developments, like The Hills of Spring Creek and Meadow Ridge of Troy, where lots are currently available for purchase.
How Much Does it Cost to Develop Land to Build a House?
The costs to prepare land for building a home are often surprising to clients. Some lots start from scratch and some lots are all ready for building or are somewhere in between. Very generally, the cost to prepare land starts at about $2 per square foot of the lot or $7 per square foot of the building area. Preparing a lot can involve the following aspects:
- Perc test
- Clear cutting
- Septic-(design, installation) or water/sewer hookup
- Earthwork (Fill, excavation, etc)
- Connection to electric/gas
- Development fees
How Do I Find Land in the Minneapolis Suburbs?
Finding land in the Minneapolis/Saint Paul area can be overwhelming. Combing through listings can be exhausting and disheartening. There is no reason to look for land alone. Many developments include lots for sale where realtors and builders partner to develop neighborhoods full of new construction and match clients with the perfect space. Finding a builder or realtor you like and working with them to identify the next steps can ensure that you have expert help right from the start. At Derrick Custom Homes, we always have a new development up our sleeve. There are lots for purchase available in several of our upcoming developments in the East Metro area.
Why Should I Choose to Build in a New Development?
New developments come with unique benefits, especially if you are in the market for new construction. Perks of choosing a new development include:
- Be new together: When everyone moves in at roughly the same time, everyone in the neighborhood is looking to make new connections and build community. There’s much less chance of finding yourself on the outside looking in as your neighbors celebrate old traditions. When everything is yet to be established, the options for creating a space for yourself and your family in your new community are completely up for grabs! Do you throw a big holiday barbeque? Does your house go all-out for Halloween? Do you host a regular murder mystery night? Maybe you do, starting now.
- Land development burden reduced: many of the costs associated with preparing land for building are already addressed for lots in new developments. Saving this step in the planning moves you closer to breaking ground and reduces the overall cost of land development by dividing it among neighbors.
- Enjoy modern community features: New communities include thoughtful design and features lacking in past neighborhoods. For example, residents of the Hills of Spring Creek enjoy more than 2 miles of walking trails, thoughtful and ample green space, and water features woven into the neighborhood plan.
Build Your Dream Home in the Minneapolis Suburbs
Here at Derrick Custom Homes, our team has 54 years of experience building fully customized homes in the Twin Cities area. We know we can deliver results that will stun for years to come, and we would be honored to help you find the best place to build your Wisconsin or Minnesota dream home, on time and on budget.