Wanting to buy a lot and build a house for myself in Philadelphia

[Ira Stephens]

I was recommended this site by a neighbor, so I figured I'd give it a shot.  I rent in Philly right now and am worried about getting eventually priced out of my neighborhood.  Because of this, I have been looking for a place to buy.  There is a plot of land near me that I am considering buying.  I have done some research on it.  Get the land, find an architect, find a GC, and then deal with problems as they come about.  I am just hesitant because it feels like a lot can go wrong and since I am newbie, it would be a much bigger deal for me.  Any tips or advice would be much appreciated. 

Also the land in question, which I have not purchased yet has this in the listing "All offers must be accompanied with the addendum provided in Trend."  I am not sure what this means and was wondering if anyone could shine some light on this too.  Thanks in advance.

[John Knisely]

Hey @Ira Stephens, welcome to the Biggerpockets!  Very interesting thought. Are you looking for strictly a personal house or is this also an investment type purchase? If its just for a house I would consider finding a builder that is working in your desired area and talk to them. Unless you have a background in development I would hesitate to attempt a one-off type situation.

I can pull the addendum off Trend (MLS) for you if you'd like. Send me a message with the address and I can email it over. Could be the "The Pennsylvania Abandoned and Blighted Property Conservatorship Act, Pennsylvania Act 135" as I am seeing in a land addendum in Fishtown now.