However, Vacant Land is beginning to be more and more sparse, as people discover this country retreat and are building new homes. With such a wonderful location, ideal climate and spectacular seasons, Lake Gaston is a great investment area to build a vacation home, a primary residence, or a second home to live in seasonally.
New Construction on Lake Gaston, North Carolina
Taking a long-term view, anyone can clearly see how building here would make a very savvy investment choice. Prices to build on Lake Gaston come in a wide variety, meaning that practically any budget can buy a piece of paradise and strict building standards ensure quality. Waterfront lots range between $50,000 and $650,000. Construction prices per square foot are equally affordable, running on average, $95 up to $120 for higher quality, custom home construction.
Lakefront homes built new can be had for as little as $350,000, while the average for new construction stands at approximately $450,000. For newly built homes, these residences will likely be part of one of the over two hundred residential subdivisions. The great news about this is the Covenants and Restrictions are quite friendly to new construction, but do take measures to ensure the area stays unspoiled and homes are build to high safety and living standards.
Another piece of good news is the fact these governing associations do not impose a time frame for building on a newly purchased, undeveloped lot. This translates into an ideal real estate investment strategy for those who would like to purchase a lot, allow the parcel to appreciate, then sell it in the future; or, take time to build in the future.
Types of Construction
For the most part, the subdivisions in the area are primarily limited to what's known in the construction trade as "stick" built homes; and, most do not place any restrictions on modular homes. Size restrictions in regards to square footage are also not strict and association fees range from just $100 to $350 annually. Because of these policies, some investors are choosing to buy improved lots, raze existing structures, and build luxury or more modern homes in their place.
There are a number of qualified and well-experienced home builders serving the area and these construction firms are quite proud of their previous work. Bottom line is that Lake Gaston Real Estate is a good investment.
Jan Werner is the owner of the website www.lakegastonteam.com and is considered the best Real Estate agent on Lake Gaston.