14 Things to Think About Before Buying Land to Build On

Purchasing land to build a house on is a significant investment and can be a complex process. Here are 14 tips to consider when buying land to build a home on! Use these tips as a checklist for finding the right property.

Location

One of the most important factors when purchasing land is the location. Consider factors such as proximity to schools, transportation, medical facilities, shopping centers, and other essential amenities. Additionally, think about factors like the neighborhood’s noise levels, environmental hazards, and zoning regulations.

Zoning Regulations

Zoning regulations are a crucial consideration when purchasing land to build a house. These regulations dictate what kind of buildings can be constructed in a particular area, as well as the size and height of the structure, setbacks, and other important factors. Make sure to do your research to ensure that you are following all the applicable zoning regulations.

Soil Type

The soil type is another critical factor to consider when purchasing land. Different types of soil can have a significant impact on the cost of the foundation, as well as the drainage, stability, and erosion of the property. Consult with a geotechnical engineer to assess the soil’s condition to ensure that it is suitable for building. It especially important that you find property that will perk for the number of bedrooms you need.

Utilities

Check the availability of utilities such as electricity, water, and sewage. In some areas, it may be necessary to install a septic system or drill a well, which can be expensive. Make sure to research the cost of connecting to public utilities or installing private systems to budget accordingly. Also if high speed internet is necessary be sure to check and see if it is available. While rural internet options exist they may not get you the service you require.

Easements and Encroachments

Before purchasing land, be sure to check for any easements or encroachments on the property. Easements are the rights that allow someone else to use a portion of your property, while encroachments refer to someone else’s property overlapping onto yours. These can limit how you use the land, and it is crucial to understand the implications before buying. Some common easements may be gas, power, and water line easements. Other easements may include road or driveway access, hunting easement, and septic easements.

Access

Ensure that the land you purchase has proper access, whether it’s a public road or a private driveway. If the land has no access (is landlocked), you will have to create an easement to access it, which can be costly. In Tennessee you have a right to access your property however it may require a lawsuit to acquire it. Check with the local zoning office to ensure that the land has proper access, and the right of way is well-defined.

Survey

A property survey is an essential step before purchasing land. It will determine the exact property boundaries and help you avoid any legal disputes in the future. Make sure to hire a licensed land surveyor to perform the survey and provide you with a detailed report.

Environmental Hazards

Environmental hazards such as flood zones, wetlands, and other environmental features can affect the cost of building a home. They can also make it challenging to secure permits for construction. It is essential to research and understand the potential environmental hazards in the area before purchasing land.

Topography

The topography of the land is another crucial factor to consider. It can affect the cost of building, as well as the type of home you can construct. Steep slopes or rocky terrain can be expensive to build on, and it may be necessary to hire a specialist contractor. Sloped lots may require basement foundations or tall crawl spaces which can add extra expense to the project.

Elevation

Elevation is another factor to consider when buying land. Depending on the location, it may be necessary to elevate the home above the floodplain. Make sure to research the flood risk in the area and understand the elevation requirements before purchasing land.

Natural Disasters

Natural disasters such as hurricanes, tornadoes, earthquakes, and wildfires can cause significant damage to homes. It is essential to research the history of natural disasters in the area and understand the risks before purchasing land.

Building Codes

Building codes dictate the minimum safety and health standards for construction in a particular area. It is important to research the building codes in the area and ensure that your construction plans meet those requirements. Failure to comply with building codes can result in fines, legal issues, or even the inability to sell your home in the future.

Cost

The cost of purchasing land varies widely depending on the location, size, and other factors. Before making a purchase, make sure to budget for all the costs associated with building a home, including permits, utilities, surveys, and construction. It is also important to consider the cost of maintaining the property after construction is complete.

Financing

If you need financing to purchase land and build a home, it is essential to research your options thoroughly. Some banks and credit unions offer specialized loans for land purchases and construction, and it is important to compare rates and terms. Additionally, make sure that you have a solid understanding of your budget and financing options before making a purchase.

Purchasing land to build a house on is a complex process that requires careful consideration of several factors. The location, zoning regulations, soil type, utilities, easements, access, survey, environmental hazards, topography, elevation, natural disasters, building codes, cost, and financing are all important factors to consider before making a purchase. Doing your research and seeking expert advice can help you make an informed decision and avoid costly mistakes in the future.

More Real Estate Info from Middle TN Home Hunter