Vacant Land

When purchasing vacant land, there are many considerations;

If you are planning on building a house on your new property, you might want to consider a short term land contract, because if you’re obtaining construction financing, the initial draw will pay off the balance owed on the land.

• Inspect for suitable well and septic locations if you are not tapping into city services

• Review zoning and easement restrictions and any environmental conditions

• Research distances from utilities

• You may want to consider soil borings to determine foundation requirements

• Make sure the type of home you intend to build on this lot will fit in with the surrounding neighborhood

• Know the costs involved

• Even if you pay cash for property, you may want to consider title insurance

• If the land you’re purchasing is not in a plated sub, plan for surveying costs.

• Be sure the property you are purchasing has designated or deeded road access

• Check the local flood maps

• Finally, check with your local authorities on the costs of permits