There are numerous reasons to purchase land and building a home on it, but the main reason is that people want space far away from neighbors and the big cities. If you have lived in the same area for quite some time and have finally found the perfect piece of land to purchase, you’ll be ready to sign on the dotted line. However, if you are new to the area, we recommend that you take your time becoming acclimated to everything before you narrow down your search parameters.
Here are 7 factors to take into consideration before buying land to build a home:
- Zoning Requirements: You may think that you can build any type of home on any piece of property that you purchase, but that is not the case. Each area has their own zoning ordinances and you will need to follow them accordingly.
- Sounds and Smells: There is nothing worse than buying a piece of land and then finding out that there is a pig farm right next door that smells oh so lovely when the wind is blowing the right way. The same goes for the noisy rooster that alerts you that the sun is rising every morning from the farm right next door.
- Natural Hazards: The land that you are interested in might have some protected habitat sections on it, which means you will be limited with where you can build. The soil may be hazardous or that land might be where wildfires run rampant during the dry season. These are all things that you will want to know about before you make your purchase.
- Elevation: Slightly elevated land will shift and change over time and that can cause your newly laid foundation to shift over time as well. Of course, if your land is lower than the surrounding areas, you may find that you are flooding quite often, and that is never good either.
- Easements: You may find yourself looking at land that can only be reached by driving across the land next to it, and if that is the case, you will need to obtain an easement to continue driving that route.
- Utilities: Land way out in the country is not going to have easy access to all the utilities that you are used to. You may find that you will not have access to public water and therefore will need to drill a well. You may also need to install a septic tank if sewers are not available. If electricity, telephone, and cable lines have not been established anywhere nearby, you may find yourself paying thousands of dollars to have them brought to your new home.
- Appraisal: Most people will pay cash for the land that they purchase. If you are doing that, you will want to obtain an appraisal before making an offer. This will prevent you from paying too much for the land.
Some of these factors are easy to deal with, while others may cause a headache that is not going to make purchasing the land that you want worthwhile. We recommend weighing your options carefully, so you do not make a decision that you will regret in the future.