Things To Consider When Buying Land
You've found a great plot of land for sale and have plans to build your dream home. Building your own brand new, customized home can be a great option but can also be a very complicated process. If you are considering buying vacant land to build a home, there are many things you must take into consideration.
Is this the right location to build your dream home? Make sure to do your research to find out about schools, medical facilities, and neighborhood amenities. Find out how long your commute will be to work or school. Ensure this is somewhere you will want to live for years to come. You will also want to find out how much other homes have sold for in your target neighborhood. If you are planning on getting a construction loan to build your home it will be based on the value of the neighborhood, so it is very important to take this into consideration.
Does the land for sale have access to utilities? Once you build your home, of course, you will want water, sewage, electricity, gas, and internet. Having these utilities installed can add thousands of dollars to your construction costs. In addition, if the land you are purchasing is not close enough to water and sewage lines, you will need to have a well and septic tank installed, which will require additional maintenance. If you do not wish to deal with this, you can find a vacant lot with utilities already installed.
Restrictions and Zoning
You will also want to take into consideration any deed restrictions on the land. There may be restrictions on the size of the house you can build and the materials you can use on the home. Therefore, you should do your due diligence and check the current deed before moving forward. The property may also be located in a restricted subdivision with rules enforced by a homeowners association. They may put restrictions on the appearance of your home or on additions, such as a pool or shed. The HOA may even enforce rules such as how often you need to mow your grass, if you can have a pet, or even how many vehicles you can park in the driveway. Further, if you are building a home, you want to ensure that the land you are purchasing is zoned for residential use and not for another use such as agriculture or commercial. It may not be an easy process to rezone the land for your intended use.
For more information, reach out to a real estate agent that can help you find land for sale.