Beware a Land Mine
Filed under Mortgage on Jul 24,2019 | Tagged in: land, land purchase, purchasing land
We’ve all had the experience of driving past a beautiful piece of land and thinking how perfect it would be for building a custom home.
It might have mature trees, a gorgeous view, a pond or creek, a serene natural setting, or simply an ideal location. The price may seem affordable, too. But before you jump in, be sure to read this article from SmartAsset. It provides a great overview of the hazards and issues you might encounter related to zoning restrictions, buildability, environmental issues and getting a loan for a land purchase. A thorough evaluation will help you determine the true cost of the land, which is the sale price plus the improvement costs. You’ll also be able to determine whether the land you have your eye on is suitable for building at all. Buying land is a big decision that requires an equally big commitment to due diligence.
If you find the perfect parcel and decide to sell your existing home, let Vanguard Realty Associates help you sell fast and at the best price – so you can move on to building your dream home ASAP!
