Tax Benefits of Owning Land One Year Before You Build Your Custom Home

Many clients wonder if they should purchase land before or after choosing a custom home builder. While there are a few benefits of waiting to buy your property, owning your land for at least one year before you start building is the most tax-friendly option.

Coastal Homes Owner and Operator – David Wilson sits down to talk about these tax benefits in this Coastal Connection video:

Tax Benefits for Delaware Land Owners

If you thought tax-free shopping was the best thing about living in Delaware, you’ll be delighted to know that you won’t be required to pay extra taxes to build your custom home provided that you owned the land for at least one year. While a year seems like a long time to wait to start building, there is a big advantage to taking your time on the design process.

Figuring out what you want your custom home to look like takes time. Most people aren’t going to be able to drill down exactly what they want overnight. We encourage our clients to spend time creating Pinterest boards, looking at houses, and doing lots of research on materials before they approach us for a consultation. It can be tempting to rush to an architect and have them draw up a set of plans to bring to us. However, we will probably have suggestions for changes to your blueprints after the initial consultation. Getting to the point where the final working blueprints can be drawn up is a process that shouldn’t be rushed. Even small details can affect the dimensions of your home. When you work with us, everything gets examined and considered so we can build a home you will be 100% satisfied with.

Coastal Homes and Design: Truly Custom Home Building in Delaware

Delaware offers many tax benefits for its residents, making it an excellent place to settle down and build a custom home. If you have owned land in Delaware for at least a year, the next step is to choose a custom home builder. Coastal Homes can build a home that is 100% custom and tailor-made to your exact wants, needs, and specifications.

Some home builders claim to build custom homes, but we are the only company that can provide you with the flexibility and creative freedom needed to build a truly custom, unique home. No matter what features you want to incorporate, we will take every step necessary to help your vision materialize. We take a collaborative, ethical approach to everything we do, and our reputation in Delaware has remained pristine during our two decades of building.

Schedule Your Initial Consultation Today

During your initial consultation, you’ll be able to collaborate with us at our design center in Lewes. We will work with you to understand your goals and get a clear vision of what you want your custom home to look like. Schedule your consultation today and get an estimate for your project in just a few weeks.

In this video & blog, David Wilson discusses the tax benefits of owning your land for one year prior to building a custom home in Delaware.