What to Know Before Buying Residential Land for Sale in Central Texas
Buying land can be a great investment and the perfect opportunity to build your dream home. Yet, purchasing residential land for sale in Central Texas isn’t the same as buying an existing home on a plot of land. There are many things buyers should know before they make such a large purchase.
Order a Land Survey
It’s not enough for buyers to rely on a dated survey to determine easements and boundaries. This information isn’t always accurate and might be outdated. To get a complete understanding of a piece of land’s legal boundaries, order a land survey to map the property lines.
Determine the Costs to Develop the Land
Virgin land requires more legwork and financial commitment to prepare it for home construction. Buyers need to consider the cost of installing a sewer or septic service, water, electricity, and paving the land. Will trees need to be cleared? One must know this information before making an offer so they can access a fair price for the land.
Lending Considerations
Some buyers want to buy land and hold onto it for several years before building on the property. If you plan to finance the land purchase, it’s important to understand that many lenders frown upon this practice and won’t approve a land loan only. Buyers will have to work a little harder to find the right financing for a land purchase.
Select a Build-on-Your-Lot Builder
Before buying land for sale, make sure to select a builder who will build on your pre-purchased land. For custom builds in Central Texas, contact the hometown builders at
Coregon Building Company.
