Do I Need a Lot Before Finding a Builder in Cincinnati, Ohio?
Navigating the journey of building a custom home in Cincinnati can be filled with questions. Is it smart to buy land and build later? How do I find...
You can see it in your mind’s eye: Your dream home, your dream yard, your dream neighborhood. When it’s time to build a brand new home, your dream gets closer to reality when you select a location. But how much should you budget for land in Ohio? We'll tell you the average price per acre in Ohio as well as for many popular areas in and around Cincinnati.
An acre measures 43,560 square feet, which is about 20 yards shy of a football field. If you’re looking for a suburban lot outside of Cincinnati, or a lot within one of the popular neighborhoods of Cincinnati, most will be less than an acre.
According to the World Population Review, the average price for an acre of land in Ohio is around $32,000. However, the average cost per acre for farmland in Ohio is around $7,200, which brings down the overall average. Although the price is much lower, farmland will cost much more to develop for a custom home build and will not likely have easily-accessible city utilities.
If you dream of a remote retreat, inexpensive farmland might be for you. Although, having amenities nearby, being closer to top-rated schools, and being part of a close-knit community may be more in line with your lifestyle.
Developed land for sale in Ohio that's located in residential areas or planned neighborhoods are rarely more than a half acre in size. In fact, many are less than 10,000 square feet (or less than 1/4 acre) with most less than 5,000 square feet (or less than 1/8 acre). So, how much is the price of land in the most popular areas around Cincinnati, Ohio?
Land for sale in one of the most desirable cities in the Greater Cincinnati area, such as Madeira, could cost around $200,000 for 1/4 acres.
To build your custom home closer to the city center—such as in the neighborhoods of Columbia-Tusculum, Hyde Park, or Mount Lookout—expect to pay up to $200,000 for 1/8 acres.
In Cincinnati's picturesque suburban enclaves, such as Symmes or Montgomery, Ohio, expect a 1/2 acre lot of land to cost $150,000 on average.
The condition of the land as well as where it is located will be the major drivers of price per acre in Ohio. Wooded, undeveloped land will cost significantly less than waterfront property, for example.
The price of an acre of land around Cincinnati depends on how much it will cost to develop the land before construction on your custom home can even begin. A drastically lower price tag might reflect an undesirable location or land that will be too costly to develop. Ask questions when selecting land for your custom home to avoid unanticipated expenses or surprises later in your project.
Here are some questions we encourage prospective buyers to ask about a lot when planning to build a custom home in the Cincinnati area:
Some clients need help finding a lot to build on, and some already own a lot. If you need help finding land for sale, we suggest starting with your custom home builder. They will be well-connected with realtors who will be able to point you in the right direction, depending on your custom home needs. If you have a dream location and can find its owner, some clients have had success cold calling and making an offer on undeveloped land. You’ll never know unless you try!
If you’d like even more information about finding land for a custom home, download this comprehensive Custom Home Building Guide ebook.
At Chris Gorman Homes, we're driven to create your dream custom home in the best area for you and your family. It begins with finding the right land and we're here to help assess the land you're interested in before you even put in a bid. Our neighborhood expertise has helped us pair many happy clients with their dream locations, and we’re pleased to use our knowledge to help you find the perfect spot to begin your new chapter.
View our online portfolio to imagine what's possible and contact us to schedule a consultation to learn more about our design-build process.
Navigating the journey of building a custom home in Cincinnati can be filled with questions. Is it smart to buy land and build later? How do I find...
You can see it in your mind’s eye: Your dream home, your dream yard, your dream neighborhood. When it’s time to build a brand new home, your dream...
When you’re researching design ideas for your custom Cincinnati home, time and time again you’re advised to think about the future. One big future...