GlossaryBuild-Your-Own-Lot (BOYL) is an option for homebuyers who already own a piece of land and want to build their dream home on it. This process involves working with homebuilders who specialize in constructing houses on individual lots, rather than in planned communities. A BOYL setup allows homeowners to choose the location, layout, and design of their new home, providing a level of customization not typically available in traditional subdivisions.
The BOYL process starts with the landowner selecting a builder who offers this service. Once a builder is chosen, the next step is to evaluate the land. The builder will assess factors such as topography, soil conditions, access to utilities, and zoning regulations. After these evaluations, the builder will provide the buyer with options for floor plans that work well with the land. From there, the buyer can select the floor plan, discuss design preferences, and agree on a timeline and budget.
The home construction phase follows, during which the buyer may be involved in decisions regarding finishes, materials, and other details to make the home truly their own. Once the construction is complete, the buyer moves into their newly built home.
One major benefit of the BOYL process is the ability to build on your own lot. This gives homeowners complete control over the location of their new home, whether they want a rural setting, proximity to specific schools or amenities, or a more secluded area.
Another key advantage is the customization available when selecting build on your own lot floor plans. Homebuyers can often work with architects or designers to adjust the floor plan to suit their specific needs, unlike in pre-built communities with limited design options. For example, if a buyer wants extra space for an office, a larger kitchen, or an open-concept living area, these changes can typically be made.
Also, working with build on your own lot builders gives buyers a more hands-on approach to the construction process. They can oversee the project, make decisions at various stages, and even select specific materials for finishing touches.
A BOYL project is ideal for individuals who already own land or have a specific location in mind where they want to live. It's also a good option for those who are looking for a home that is truly tailored to their preferences and style. Buyers who are interested in more rural or non-traditional locations might also prefer this approach, as they can bypass the limitations of subdivisions and HOA rules.
If you're someone who values having control over design decisions, the BOYL option could be the perfect fit. It may also be a great choice for those who want to build a home that aligns with specific energy-efficient or sustainable goals, as custom homes can incorporate these elements from the very beginning.
The cost to build on your own lot varies depending on the size of the lot, the complexity of the design, and the builder's fees. On average, building on your own lot tends to be more expensive than purchasing a pre-built home, mainly due to factors like land preparation, utility hookups, and customizations. It's important for potential homeowners to budget for both the cost of the lot itself and the construction, including permits, inspections, and any upgrades they may want.
A BOYL project allows for a highly personalized living space in a location of your choosing. By selecting the right builder and floor plans, you can create a home that meets your needs in a setting that suits your lifestyle. If you're ready to take the next step in creating your ideal home, building on your own lot may be the perfect choice.