Article - Land Purchase
Colonial Beach Realtor
a division of Treck Realty
If you're in the market for land, navigating the purchase requires a detailed understanding of several critical factors. Here are key considerations to keep in mind during your search:
Septic System Viability:
Determine if the land can accommodate a septic system ("Does it perk?") and the type required. Costs can vary widely, from $15,000 to $50,000, impacting your budget significantly.Water Source:
Assess the feasibility of drilling a well for water, including the depth required and the potential for encountering rocky terrain, which can increase drilling costs.Land Drainage:
Visit the property both during dry conditions and after rainfall to evaluate how well it drains. Standing water can indicate drainage issues that might complicate construction or use.Subdivision Potential:
Verify if the land can be subdivided according to local regulations, which is crucial if you plan to build multiple homes for family members or sell portions of the land. Restrictions can vary dramatically.Neighborhood and Zoning:
Understand the neighborhood's characteristics and local zoning regulations. If you have specific plans, like building a kennel, ensure they are permissible under local zoning laws. Consider applying for zoning exceptions if necessary, but be aware that approval is not guaranteed.Future Development Plans:
Familiarize yourself with the master plan for the area to ensure it aligns with your long-term goals. This is crucial as zoning changes or development plans can significantly affect your ability to use the land as intended.Building Regulations and Utilities:
Know the building setbacks, utility access, and whether the parcel is large enough for your intended structure. Investigate the availability of necessary utilities and the feasibility of connecting them to your property.Land Survey:
Conduct a thorough land survey to identify any encroachments or discrepancies in property boundaries. This can prevent future disputes and ensure you know the exact dimensions of the property you're purchasing.Title Verification:
Confirm that the seller legally owns the property. Utilize a reputable title company and secure title insurance to protect against potential fraud or claims against the property. If the land is not insurable, reconsider the purchase.
These highlights are just the beginning of what you should consider when purchasing land. Many aspects may not come to mind until after the transaction, potentially leading to costly and complicated issues. By focusing on these key areas, you'll be better prepared to make an informed decision and navigate the complexities of land acquisition. Remember, thorough research and due diligence are your best tools in ensuring a successful land purchase. This guidance comes from a genuine desire to assist and educate prospective land buyers on the intricacies of the process.