Biggest Red Flags When Buying Vacant Land? Looking to build your dream home? Found the perfect lot? HOLD. Be sure you check these red flags first. These are the biggest red flags to buying vacant land. Building a custom home on The Main Line is a really popular option, BUT there is not that much vacant land available. When you find a lot that you like, you might be tempted to jump right in, but please hold! Be sure that these red flags are not present. Here is our list!
First is the topography, which is hills, holes, and how the earth is shaped. Be sure you are hiring someone or your builder offers a service for a survey of the land that includes topography. Whether you are dealing with in terms of the type of land, structures existing on land, and power situation, you need to know that the land is available to build on. These types of surveys and research are going to run upwards of $10,000 so be sure that you have that set aside in your budget.
Second, geotechnical survey. This is a supplement to a topography survey and is the survey of the land beneath the home.
Third, this is the biggest and that is the zoning of the home, and we are not talking school zone. If the land is zoned for construction and if it is free of specifications for use. Lots of land that is on the market comes with specifications or inherited uses. I just sold a property that had designations to remain undeveloped. This was a huge bonus for my buyers, because they wanted the space for privacy, however if you are looking to build a home, you need to make sure it is free of designations and the zoning will work. Note that sometimes changing zoning is not difficult and the land was zoned a certain way for the owners tax purposes, agricultural land is often zoned for this reason, but is fit for building.
We hope this helps you on your quest to build the perfect home. If you are looking for a realtor to help you in your preconstruction, please reach out. I am expert in preconstruction and understand the nuances of the home building and land buying process. Building a new home? Remember Kimmy Rolph sells The Main Line and Local Areas.
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