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What do I need to know before buying a piece of land that I eventually want to build on? ?
I am considering purchasing a piece of land to build our dream home on, but realistically won't begin building for a couple of years. What do I need to know? Taxes? Permits? Maintenance of the land? Electricity, city sewage, natural gas, etc.
It would be easier to get a builder involved, I'm sure, but right now we are doing preliminary research and just want to get a piece of land while it's still cheap! Builders probably won't want to work with us yet since we're a couple years away from breaking ground.
First off, check the zoning to make sure you can build what you want on this property.
Taxes should not be insignificant for undeveloped land.
Permits won't be a factor until you want to build. Permits have an expiration date, so you aren't going to want to apply to build until you are ready.
Most areas will require you to maintain the land, at least keep the weeds and such down until you are building.
You will absolutely want to check how much it will cost to bring utilities to the land. Even if there is a power pole at the property and water lines running in front of the property, it can be tens of thousands of dollars to run utilities.
You don't need a builder unless you want to assess the land from a builder's perspective. Some parcels are easier to develop than others, and if you are considering a couple different parcels, cost of utilities and cost to develop (due to soil, rocks, leveling, etc.) may make this an easy decision.
Source(s):5 years ago
all of those thing but if sewage isn't available you will also need a perk test for septic tankby golferwhoworks - 5 years ago
You'll need to know all of those things and you will also need to hire a land surveyer...he will check for flooding, erosion, runoff...you don't want those kinds of problems where you are planning to live.by ♥ k ♥ - 5 years ago
Make sure that there is as little flood plains as possible. and elevation is a big issue tooby Jordan R - 5 years ago
Zoning, future enjoyment... Is there erosion? Whats the area heading towards over population?
My favorite thing is if you like the land, buy the land. Is land increasing in value?
Sell it if you don't like the way it's heading later on down the road.
What if you want to move and it's all cool? You have the land, build a house for someone else if you can't stay there and make a profit.