Buying Land - Answering Your Questions - Part 1
1. Is it really location…. location…. location?
It really is. The first step is deciding on what you need and what is that going to cost. Are you looking for acreage to build your dream equestrian center or mini-farm? Maybe you want a lot in a cozy little neighborhood where you can walk to the store and pick up the Sunday paper? Or, are you looking for your getaway on the lake or in the mountains? Just like determining what features you need in your home, you need to decide on what you need in your land. A 10,000 square foot lot in the city versus a 10 acre parcel out in the country have completely different issues to be aware of and lifestyles to offer.
2. What’s the neighborhood like?
Always take into consideration the location and quality of the surrounding homes. Use your senses of sight, hearing, and smell to pick up on any issues that may be objectionable to you. Think about the proximity of the land to your work and nearest ammentites, entertainment, schools and shopping. Or if you’re looking for peace and quiet, how close is the nearest home to the lot line and how will I locate my house on the land to maximize separation?
3. So I like the location and the neigborhood…what else?
What is the quality of the land? Some issues to look for in land quality follow; Is the land wet and does it have areas that can’t be built on? Does the land have a steep slope or drop off abruptly that would prohibit building? Does the land have good, deep soil easy for designing a septic system, or is it rocky or even have ledge? Are there streams on the land that require setbacks? What is the orientation of the land and will I have good sun exposure? Does the land have a view or water frontage? What was the land formerly used for? Was it a farm field, forest land, re-zoned residential property, or is it division?
By: Michael Noble
Michael has worked for Schiavi Home Development for close to a year now. He has a background in real estate and land development. Look for Parts 2, and 3 with tips and questions about buying land.
