4 Things to Consider When Buying Land

There are so many areas to evaluate when looking at a lot of land to build your home on. Below are some of the key areas for us.

1. Land clearing: If the potential lot identified requires land clearing, removal of shrubs, trees and tree roots, you will want to be sure to assess the “ALL IN” costs to prepare the land before the actual house build begins. You want to avoid a situation where you have purchased the land, and then find out that the cost to prepare the land exceeds your budget and expectation.

2. Existing Utility Connections: If the existing lot has never had a house on site and it is not cleared, more than likely you will need to budget for having utility hookups extended on to the property. This will include, water, sewage, gas/electric and internet; to name a few. Be sure to check with the listing agent and/or your city office to determine what’s available.

3. Zoning, Permits and Restrictions: You will want to do your due diligence to determine what can be built on the land. Does your city impose any restrictions in terms of the sort of structures that can be built. Is the land currently zoned for residential development? Are there any liens on the land or environmental challenges that need to be resolved? These are the sort of questions to get clarity on prior to making an offer.

4. Location Location Location: You will want to focus on areas with growth potential. Maybe the lot of land you are considering has close proximity to a booming city. Are the other developments happening nearby. These could be potentially good signs for your build. Land appreciates in value and the proximity to other booming development can expedite that.