Buying Land To Build On? Here’s What You Should Be Looking For
Building your dream home starts with finding the perfect piece of land. Whether you’re buying in the country or in a more developed area, the process can be overwhelming if you don’t know what to look for. Because surprisingly, there is almost as much to look for when buying land to build on as there is when you’re buying a home that is already built.
It's easy to get lost in the excitement of all the things that you plan to do with the land, but taking the time to properly assess the land you're considering is also important. Here’s what you need to be thinking about when buying land to build on.
Understand Zoning Laws
Before purchasing land, make sure you understand the zoning rules in the area. Zoning laws tell you what can be built on the land, from residential homes to commercial properties. It’s important to check that the property is zoned for residential use and that the type of home you want to build is allowed.
Certain areas might have specific rules, like limits on the height of the home or the type of materials you can use. Understanding zoning rules early can save you from expensive surprises down the line. You’ll be thankful for the peace of mind, knowing that you can actually build your dream home on the land that you’re buying.
How Will You Access The Property?
When choosing land, make sure it’s easily accessible. This means having reliable roads or trails that lead directly to the property, especially if you’re buying land in a more remote area. Without an easy way to get to the property, you might face challenges when bringing in construction equipment or even getting utilities connected.
If you need to, check if there are any easements that can give you a better way to access your property or if you need to secure different rights to access your land. It’s a small detail to think about that could save you major headaches in the long run.
Check Soil and Drainage
Not all land is created equal, and the right soil quality is so important if you want your home to have a stable foundation. A simple soil test can tell you whether the land has the right composition to support the heavy structures you want to build. You also need to check the drainage of the property. A poorly draining lot can lead to issues like flooding, mold, or a weak foundation, all of which could hurt your home’s chances of staying standing for a long time. Understanding the soil and drainage situation before you decide to buy helps you avoid hidden costs that come with fixing the soil before you can build.
Survey the Terrain
Knowing the land’s topography is a must when looking at properties to purchase. A flat lot might seem perfect, but steep or sloped land can also have hidden perks, depending on your building plans. It’s important to have a survey done so you know the exact boundaries, elevation, and slope of the land.
This will make sure that you don’t accidentally build onto your neighbor’s property or miss issues with the land that could make building far more expensive. Terrain can impact construction methods, water flow, and even the view from your new home, so don’t skip that survey!
Connecting Utilities
Running utilities to a remote piece of land can be far more expensive than you think, especially if you're buying land far from developed areas. You need to think about water, sewer, electricity, and even internet access before making your purchase. You may need to dig a well, install a septic system, or rely on alternative energy sources like solar or wind for some more isolated properties.
You have to understand everything that will go into getting these services, and if they aren’t already available, factor the costs of getting them to your land into your budget.
Know Your Financing Options
Not all potential property buyers know this, but not all plots of land are eligible for standard financing. Banks often consider land purchases as riskier investments, especially for raw, undeveloped lots. That means you may need to look into other financing options or work with a lender who specializes in land purchases. Be prepared for the fact that you may need a larger down payment or agree to higher interest rates.
Knowing what to expect when it comes to financing will help you budget better and avoid surprises when it’s time to pay.
Research Property History and Environmental Concerns
Lastly, make sure to look into the history of the property. Check if it’s been used for anything that could affect the land’s stability or safety, such as past industrial use or dumping.
Environmental issues like traces of hazardous materials, wetlands, or endangered species can also complicate your plans. A thorough environmental inspection can prevent unexpected delays and make sure that your dream home won’t be ruined by something outside of your control.
Get All The Information You Need
Buying land to build on is an exciting but complicated process. You need to check zoning laws, access, soil quality, terrain, utility services, financing options, and environmental factors, so that you can confidently make the decision that’s right for you.
Take your time with your research, and don’t hesitate to get the help of experts when you need it. This way, you’ll set yourself up for success and avoid unexpected delays when it comes time to build a home that’s just right for you.