4 Questions To Ask Before Buying A Vacant Residential Lot

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Understanding Real Estate Options After struggling for years to figure out my finances, I finally made the decision to buckle down and start saving for a house. It was difficult at first, but I knew that I had to do whatever I could to get into a different place. I was tired of renting and I didn't want to live in someone else's house, so I began working with a real estate agent to figure things out. Within a few short months, I was able to find a great home that had the kinds of amenities I wanted. I decided to make a blog that reflected different real estate options people have, so here you are.

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Planning to have a home custom built from the ground up? If so, then one of the first steps you'll need to take is to purchase a plot of vacant land on which to build your new home. The process of finding the right lot to suit your needs can be challenging, though having a real estate agent who is familiar with the process of buying residential lots can be helpful; so can taking the time to ask some important questions of the seller.

Has Soil Testing Been Done Yet?

Finding out the makeup of the soil is important, as this can have a significant impact on the cost of your construction and clearing costs. For example, if the soil is on the rockier side, your excavation costs are likely to be higher. Be sure to ask the seller if land surveying and soil testing has been done yet; if so, ask for results. If not, be prepared to shell out some of your own money for this testing.

Is the Land Zoned for Residential Construction?

Don't make the assumption that the property is zoned for residential use just because it appears to be in a neighborhood or close to other residential homes. It's important to check with the seller (and double check with your local zoning board) to confirm this; after all, getting land re-zoned can be a complex and expensive process (and it's not always possible).

Is There Any Access to City Utilities?

How easy will it be for the lot to be connected to nearby city utilities, such as water and electricity? These costs can add up very quickly, so ideally you'll want to find a lot that has already been connected to local utilities.

What Types of Payment Are Accepted?

Finally, make sure that the seller of the lot you're interested in accepts your planned payment method. You might be surprised at the number of land sellers out there who will only accept cash as a form of payment. If you plan on financing the purchase of your lot, you'll need to find sellers who will accept this payment option (a real estate agent can help with this).

While it may take some time searching through lots for sale to find the one that's right for you, your efforts and research will pay off when you're able to have your dream home built on the perfect plot of land!

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