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Posts tagged vacant land

Top 10 Tips for Buying Vacant Land

Feb17
2009
Leave a Comment Written by Alicia

vacant-land

Thinking of building your dream home on vacant land? There are certain things that you must consider. More thought goes into the purchase of land than the purchase of a home. Here are 10 tips to know before buying land.

1. When looking for land, make sure you know what your plans are before purchasing it. This will help you imagine where you will put the house, barn, driveway, etc.

2. Know that you need permission to build on vacant land. Get your building permit and find out what rules you must follow, like how close you can build to a river.

3. If you plan on building a house on the land, check with utility companies to see if gas and electric are available for this land.

4. Find out if public water is available to this land. If not, you will need to fit a well system into your budget.

5. Also find out if public sewer lines can manage your land. If not, you will also need to fit a septic system into your budget.

6. Check the weather history in this area to find out if it deals with lots of flooding, tornados, etc. This will help you make smart building decisions.

7. Check with the local city government to find out what the future building plans are for this area. If a major expressway is in the works, you may decide not to purchase the land. It’s all about location!

8. Consider your everyday habits. Are you on a cell phone a lot? Find out if you get service in this area. You may need to adjust your lifestyle in numerous ways.

9. Add up all of the costs that you will face. Once you purchase the land, figure out how much it will cost to build your dream house. You don’t want to find yourself in a lifetime of debt.

10. After purchasing the land, consider fencing it, great for keeping animals, hosting parties or enjoying the privacy of your property!

Posted in Buying Tips, Tips and Ideas - Tagged buying buy owner, buying for sale by owner, buying vacant land, how to buy vacant land
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Top 10 Reasons to Buy Vacant Land

Feb10
2009
Leave a Comment Written by Alicia

Buy-Vacant-Land

Not only do we advertise homes for sale by owner here at Buy Owner®, but we also advertise vacant land for sale! Buying vacant land makes a lot of sense, and here are the top 10 reasons why:

1. Opportunities are endless. With a segment of your very own land, you can do pretty much whatever you wish with it!

2. You have the chance to build a unique, personal dream home from scratch.

3. Vacant land is often in a rural area, away from the chaos of urban living. You can relax in a quiet atmosphere and connect with nature again.

4. Even if you don’t build a home on the land, it’s somewhere to go on a day off work. It’s like having your own park!

5. You can enjoy a huge backyard, which is hard to come by in neighborhoods! Big backyards are ideal for kids, pets, hosting parties or anything you wish!

6. If you can afford the land now, it could work as major revenue in your future.

7. Even with the state of the economy, land still sells, especially now that baby boomers will be retiring. You will have no problem selling land in the future.

8. You could build a house on the vacant land and rent it out for added income or use it as a vacation home or a place to retire.

9. Even without a house on the land, an endless investment is possible by renting the land to campers, farmers or hunters.

10. No HOA fees exist on vacant land in rural areas. You are free to do as you please, after checking with the town’s rules.

If you decide to take advantage of these vacant land perks, look forward to a future post about 10 steps that you must follow when purchasing land.

Posted in Buying Tips, Tips and Ideas - Tagged buy land buy owner, buy land buyowner, buying vacant land, why buy vacant land
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Selling Vacant Land

Jan26
2009
Leave a Comment Written by Carrie

Do you own quite a bit of land? Are you not sure how open acreage will appeal to buyers? With the help of Buy Owner®, you will be able to devise the best marketing strategy for selling your vacant lot.

Give buyers ideas

 Build a dream home
 In addition to a home, build stables and pole barns
 Build commercial property
 Farm for profit

Pricing for buyers to build homes

The value of the land should be one-third the value of the home that could be constructed on it. However, for pricing, you must also consider the value of surrounding properties. If you own the largest lot in the community, you could price the lot a bit higher than nearby acreages. However, if your neighborhood is made up of mostly $500K homes, buyers are less likely to purchase your slightly more expensive land to build a one million dollar home. What should you do now? Play up the newness factor. Buyers are going to be able to build their dream home… from the ground up!

Another point to consider is the septic/sewer issue. This determines the number of bedrooms that can be built into a given home. If the house will be run on a sewer, you have no worries. However, if your property is on a septic tank, a newly constructed home may only be allowed one to two bedrooms, thereby driving the price of the land down.

Splitting lots/Zoning potential

Splitting may be an option, if a parcel fits within the City and Council guidelines. But keep in mind… splitting takes time and costs money. However, you could end up turning over a better profit once you sell all of your vacant land. Learn more about zoning from this Buy Owner Blog post!

Use Buy Owner

How should you advertise your vacant land? You could list the property on a local MLS with an agent. However, although most MLS systems allow vacant land to be posted, buyers are only able to search for residential housing and, of course, they are only able to search with an agent. Through Buy Owner, buyers have direct access to every single listing of vacant land. When they do an advanced search, potential buyers must choose a type of property from a drop-down menu, and Buy Owner includes vacant lands in that menu.

Posted in Selling Tips, Tips and Ideas - Tagged selling land by owner, selling property, selling vacant land buyowner
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Build Your Dream Home on Vacant Land!

Aug13
2008
Leave a Comment Written by Allegra

Vacant Land

Have you been shopping for a new home and coming up short? Do you know what you want but can’t seem to find it? Think about building!

Buy a vacant, residentially zoned property, and you can create your own personal paradise, specifically to your customizations!

Building your own home fits perfectly into the American Dream, giving you a chance not just to own your own home but to create it. There are definitely some considerations you need to think about first, though, before you make the big purchase.

Step One: Budget.

Think about your financial situation and decide how much money you can spend. What is the minimum you’ll pay and what’s the absolute maximum? Remember, you’ll be paying for not only the vacant land, but also the building of the home and everything that goes along with that. You’ll have to apply for loans, such as the vacant land loan. You might also consider taking out a home equity loan on your current residence. You can enjoy tax deductions by doing so.

Step Two: Location.

As with buying a home, research the different areas you are considering. Do you want to live on a coast or inland? Do you want a rural setting or a city setting? Are you looking for a breathtaking view or a spot in the best part of town?

Where’s the land in proximity to things you need like grocery stores, your work, a beach, a mall or anything else that’s important to you? If you’re retiring to this home, being near commuting won’t be as important as being near daily conveniences or recreation. It all depends on what exactly your dream is for your home.

Step Three: Investigate.

When you settle on an area and the details, go take a look at the vacant properties that are available at BuyOwner.com. Consider the terrain, the size of the lot, if there are wetlands and if you’ll need to clear the lot. Either hire an inspector or very carefully look over every aspect of the land yourself.

You’ll also need to find out about utilities. Check with the local utility companies if there are electric, gas and public water services for the land as well as if there are public sewer lines that run to the property. If these things do not exist, you’ll have to allow for the expenses of adding them.

Step Four: Paperwork.

When you’ve settled on a property, you’ll have to file paperwork and obtain titles. Before construction, you’ll need an entrance permit and a construction permit. If there are any restrictions to the lot, you’ll have to make sure they are met while building. Contact the town building department to make sure your land is correctly zoned for building your home on, and contact the assessor’s office to find out about tax information, flood-zone boundaries, how far away the home has to be from the street and whether there are any easements. (An easement is the right to use a part of land owned by someone else for a specific purpose.) File your blueprints and the building permit application, and confirm you won’t have any troubles getting a permit. Once everything is in order, let the building process begin!

Buying vacant land can be an incredibly exciting, yet very nerve-wracking time. So it’s good to keep in mind the end goal. Because you’re starting from scratch, the home will be completely customized to you and your tastes. You’ll have total control over everything from the flooring to the roof and everything in between, so your dream home can become a reality!

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Posted in Buying Tips, Tips and Ideas - Tagged building a home, building on vacant land, building your dream home, buying, getting your dream home, home ownership, new home, owning your own home, real estate
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Welcome to the BuyOwner.com Blog, your source for regularly updated market information!

Founded in 1984, BuyOwner.com® is the leading provider of real estate marketing services. We pioneered the "For Sale by Owner" (FSBO) market, which today represents over 20 percent of all residential real estate transactions.

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