Archive for the ‘Real Estate’ Category
By: Kelly Peterson
The 8 Golden Rules for Buying a Building Lot. How you can avoid common mistake many people make buying land.
We often have come across someone who has recently purchased their lot and then ask us standard questions like “Where do you think I should build?” “What about my utilities?” “How big a house or footprint can I have?” and quite a few others that should be asked or considered prior to purchasing a lot.
Here are our 8 golden rules for buying land:
- Is it in city limits or in an unincorporated part of the county? Often times when you are looking at property within city limits, the utilities including sewer are already in place, whereas outside of city limits, often times there is no cable, no power, no sewer, no water, and no driveway. Each one of these items needs to be addressed.
- You need to know if the land “percs” for an onsite septic system, what type of septic system will need to be installed, and how much it will cost. If you are planning on building a 4-bedroom home and the property can only install a 2-bedroom septic system, the property is not worth much. You need to know this before closing on your purchase. Within days of making an offer, or prior to making an offer, you should ask the current homeowner if he has any documentation of a perc test and septic design and when that design expires. Often times you will need to hire someone to conduct a test and make your offer contingent upon this factor.
- Is there water available? The biggest mistake you can do is find a great price on a property, find that it percs, but find out later that it will cost tens of thousands of dollars to drill 200 feet down to install a water well. Although you cannot be 100% sure without an actual drilling, an experienced local drilling company can provide you information of lots nearby and their drilling depths and associated costs. They usually have standardized bids with variables that include depth that can provide you a general price range of the associated costs. You also have to watch out for having enough pressure to install a sprinkler system inside your house. Many municipalities include this in the building code for rural areas where fire trucks may not have easy access.
- Wetlands – In King County, Washington, and probably a few others, it is required that you have a “Critical Areas Designation” completed by the county. The county comes out and takes a look at your property and designates certain areas as wetlands and requires setbacks from this area for your building. This is a complex topic and we suggest that you spend a few hundred dollars before purchasing your property and hiring an expert in the field that will review your potential property and provide valuable feedback.
- Other Utilities (Power, Phone, Cable, and Internet) – Unless you are planning to go completely wireless with cell phone, satellites, and solar you need to contact the local utility companies and find out about access to your property and the associated costs. You’d be surprised at how much it can cost to bring power just a few hundred feet to your property or convert the lines to underground. It’s often good to know if you have access to natural gas or if you will be using a service for propane tanks. This may also factor into your decision.
- Setbacks – Every jurisdiction has their own set of rules for setbacks from property lines. If you are buying a large parcel it may not be as important, but a smaller parcel in the city can exclude you from using the house plan you want based on the setbacks and the foundation footprint you end up with. Often times, they also may have rules based on the ratio of impervious surface with the overall square footage of house or even the ratio of the square footage of the house with the total square footage of the lot. Be sure to check your local zoning office to verify you can build the house you want.
- You see it all the time as you drive around: Houses are not taking advantage of their view and facing the wrong way simply because of the driveway access and location of the garage. You are selecting a lot on certain factors, but mostly location. Did you buy the house because of its amazing view of the mountains to the East, or maybe the water views to the West? Make sure that the house plan you select maximizes your view and you design the position of the house to take advantage of this, this would include reviewing your driveway access. If you are in a rural area, you may have to apply for driveway access in a certain location and the county will have to approve the location.
- Hire a real estate with experience with the type of property you are looking for.
We hope this helps in making your lot purchasing process and you can avoid the many pitfalls people make buying land.
About the Author
Kelly B. Peterson builds custom and spec homes in the greater Seattle area including Whidbey Island.
(ArticlesBase SC #954471)
Article Source: http://www.articlesbase.com/ – The 8 Golden Rules for Buying a Building Lot. How you can avoid common mistake many people make buying land
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- Considerations When Buying Land for Your Next Home
- Guide on How to Buy Land
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- Facts about Buying Land – The Tips to Making a Remarkable Purchase
Posted in By: Maria
Some home buyers would rather buy land to build their ideal homes in. In fact, there is something about purchasing vacant parcels that appeals to people who want to construct their homes in their own pace and budget. A few acres can be so enticing and buyers envision themselves constructing the newly-built home of their dreams. There is that longing to build a home the way you exactly want it. And for those who have the money to spare, unimproved vacant lots are ideal and appealing.
Whatever motivates you, purchasing land is surely a whole lot different from buying an already constructed home. There are a few things that need to be discussed when buying land however, such as zoning requirements, land-use, easements, access, and utilities. They are tremendously essential in any land purchase and should be given due consideration. True enough a land acquisition can be a complicated thought process. When purchasing an existing home, someone has already been involved around issues concerning what is permissible on land.
First off, you should find the proper zone and know the plan. Once you have decided on what you want, you must spend some time t the zoning department. Check with your local zoning ordinances to determine the kind of house you want. As soon as you have recognized the particular parcels that you find interesting, zoning actually tells you whether you can have a home on that site.
There is actually a long-range plan for land-use that you should be aware of. There will be numerous areas selected for residential uses, businesses, public use like schools and parks, and agriculture. The zoning department will disclose information and warn you whether you will have a nice neighborhood or not. You certainly do not want to buy a vacant lot close to a maximum-security prison.
While you are presently surveying the area, assess highway congestion and inquire about planned road enhancements. If your ideal parcel is in a city with nicely built houses seated on six-lanes, chances are, those homeowners did not foresee that a road is going to be constructed there when they have bought it decades ago. So in buying land, there is no easy way on how you can predict the change of road plans.
Next step is to figure out if the land is an unlisted acreage or in a recorded subdivision. If your vacant lot is in a subdivision, review the subdivision restrictions. Whether you are going to buy land in rural areas or in the city, these restrictions apply everywhere. You may also look into utility easements as they will not be available for construction. Subdivision restrictions can help you identify your boundaries. These restrictions cover every issue concerning the sort of pets you can have to whether you can have a humongous truck in your driveway.
Determining the costs involved should also be considered in buying land. Financing for unimproved parcels is a huge market. If your vacant lot purchase price is not that eye-poppingly huge, you can take out home equity loans on your existing residence and bask in tax deductions.
About the Author
Land Real Estate in San Diego CA, Land for Sale in Cardiff By The Sea CA and Land for Sale in Carlsbad CA can offer you a whole deal of information about the real estate market. Whether you want to sell your house, buy a property or rent one, getting all the information that you need will give you a great advantage.
(ArticlesBase SC #1526582)
Article Source: http://www.articlesbase.com/ – Guide on How to Buy Land
Possibly Related Posts:
- How to Buy Land for a Manufactured Home
- Considerations When Buying Land for Your Next Home
- The 8 Golden Rules for Buying a Building Lot. How you can avoid common mistake many people make buying land
- Why Is There Interest in Buying Land?
- Facts about Buying Land – The Tips to Making a Remarkable Purchase
