Buying land can be a daunting endeavor. But here at LandCentral, we guide you through the process and make each step as easy as possible. Since we’ve been doing this for 25 Years now (that’s a quarter of a century if you’re keeping count), we’ve picked up a few tips we’d love to share. Some are the easier questions to ask us before you buy, but others are questions you need to consider yourself before you travel down the landowner road. So check out these Top 10 Questions to Ask Before Buying Land:
Ask Yourself
#1. Location – Where do I want my land?
This can be as easy as choosing which state to shop for land in or as specific as choosing between rural and urban. Considering climate, amenities, and things to do in the area are all ways to narrow it down when picking your location. This will also help determine the zoning you’ll need to look out for.
#2. Use – What do I want to use my land for?
Raw land is more versatile than buying a home. The possibilities are literally endless. Deciding ahead of time your plans for your new land will ensure you purchase the right lot for your goals. Consider whether you want to: build a home, grow crops, raise animals, camp, use it for recreation, a vacation rental, lease to establishments, run a business, etc. Like we said, endless.
#3. Size – What size lot will I need?
Depending on your vision, you may need a lot of space or a little. Getting specific will not only give you the perfect lot but may save you money and stress in the long run. Will you be working on your 5-acre lot tending crops and raising chickens, or will you want minimal yard work with a 6,098 sq. ft. parcel? Get clear now so you can do what you want later.
#4. Financing – How will I pay for it?
This is really a question for you and us. While raw land is more affordable than buying a home, it can still be a large chunk of change for most. Thankfully, LandCentral offers easy financing. No credit check, everyone is preapproved! Find out more about our Owner Financing!
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#5. Hidden Fees – Is the property in an HOA or POA?
Some property owners love being a part of an HOA, others avoid them at all costs. If you aren’t sure which owner you are, let’s not find out the hard way. HOA & POA lots typically have annual fees as well as specific rules and restrictions imposed on property owners within their association. There are pros and cons, so it really is a matter of preference. Whether you want to be a part of one or not might come down to what you plan on doing with your lot. For example, if you’re simply investing in land without planning to use it, you may not want to pay an annual fee to the HOA.
Don’t worry, we always tell you when our lots are attached to any association, so you know exactly what you’re signing up for.
#6. Zoning – What’s the Property Zoning?
We mentioned it before, but we’ll say it again. Knowing the zoning for any property you’re interested in is imperative to ensuring you get what you want. You wouldn’t want to buy an urban lot with plans to build your dream home only to find out it’s zoned for Commercial, and residents are prohibited.
This is where LandCentral comes in. We not only tell you all zoning up front, but we clarify what that zoning means and exactly what you can do with your lot.
#7. Utilities – Does the property have utilities?
Is it on a well or city water? Does it have septic? Does it need a perc test? Is power available at the street? All these questions surrounding utilities will help tell you what added costs you can expect once the land is in your name. While some owners prefer their land’s utilities to be attached to the nearest city, others crave the financial freedom that comes from well water and septic tanks.
We have all this information on hand for our lots, so you can trust that your utility questions will be answered before you buy.
#8. Taxes – What will my property taxes be?
Yes, even raw land has property taxes. The good news is, it’s way cheaper than traditional home taxes. This is because there’s nothing on the land yet. So, no improvements and no additions, equals nothing to tax. No matter what you plan on doing with your lot, you still need to stay up to date with your property taxes (otherwise the county can sell it at a tax auction).
Don’t worry, we got you covered. We include Estimated Annual Taxes on all our listings. And if you have more questions, we’re here to answer them.
#9. Access – How do I access my lot?
Some rural lots don’t have legal access in and out. “Legal Access” means the path to the property is public (gravel, dirt, or paved road). Without it, you may need to trespass on nearby private property or use a private access route. Legal access will always be described on the deed.
Here at LandCentral we’ll walk you through whether your new land has legal access and help you navigate a safe route to and from the lot.
#10. Features – Are there water features on the land?
Now we know what you’re thinking. Who wouldn’t want a lakefront lot? But water features can mean so much more and some are not as appealing as others. It can refer to a river, stream, creek, lake, or pond that would likely increase the value of your land, or it can refer to a wetland, march, or swamp that can potentially decrease the value of your lot.
This question isn’t a deal breaker, but we believe it’s good to know as many details as possible so you can make a sound investment.
So, there you have it, Top 10 Questions to Ask Before Buying Land. Of course, more questions can arise as you begin the process. Don’t worry, we’ll be ready to get you the answers you need. Because helping dreamers like you become property owners is something we take pride in. Did we mention it’s our 25 Anniversary year?