If you’re looking to buy land chances are high you have a dream home build in mind. Here are some tips on what to watch out for when buying vacant land.
- Make sure it has a building entitlement. Just because a piece of ground is for sale does not automatically mean the city, state, or governing authority will allow it to be built on. Some land is to wet, to small, or in a zoning that has limitations etc. If unsure, make the offer contingent on getting this information so you’re not stuck with an unbuildable property.
- Get soil/perc tests. Most vacant land that is not hooked up to city services such as water and sewer will require a private septic system. In order to install a septic system the soil needs to be perc tested. In short, a perc test shows if the soil is stable enough to support a septic system. Keep in mind, many areas require there to be two sites that can support such a system.
- Getting electrical to your new home. While most neighborhood and acreage lots have electrical at the street it’s still your responsibility to bring it to the house. On acreage homes with longer driveways this can add up quick so make sure to do any due diligence needed.
- Existing outbuildings. If the property you’re buying has an outbuilding but no home on it make sure to check with the city and see if they will require any action. Sometimes a city may require the outbuilding to be taken down within x time if no home is built.
- Money. Buying land to hold or sit on is not like getting a loan for a home. Many banks will not lend on vacant land.
If you have any questions call 612-282-SOLD.
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