What You Need To Know About Buying Land

What You Need To Know About Buying Land – Buying land is not as simple as buying a house, but it doesn’t have to be difficult. The important thing is to make sure you have done all your due diligence before closing on the property. Having been there, done that (with the guidance of our super helpful local building department), here are my real-life, money-saving and stress-reducing tips on what to look for if you’re buying land—and how to know when it’s time to walk away.

This was the realization my husband and I had in 2018 after more than a year of house hunting without success. We were looking in a challenging market, hoping to get the real estate unicorn: a fixer-upper with good bones, on a beautiful, wide-open property with plenty of room to create a homestead, all on a budget that in -fact we can afford once. we factored in the remodeling costs.

What You Need To Know About Buying Land

That fixer-upper didn’t exist in Bend, Oregon—at least not without spending an exorbitant amount of money just to settle for something. So we switched gears and decided to look for land.

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Our reasoning: We would spend almost the same amount of money to rebuild an old house as we would to build a brand new house. The math was all in favor of custom building, and we had our dream home in the first session.

It’s a tempting proposition, but buying land is not as simple as buying a house. (It never really matters

Once we decided to focus our search on land, another eight months passed before we found the perfect property. In another post, I wrote more about how we found land (with tips on how you can find one too).

A must-see if you’re in the market to buy land (or if you’re just curious about how we appraised the land we’re building our house on).

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My husband and I went on our own land hunt. We had a specific type of land in mind (fairly level and open with few trees to clear) and a specific type of house we wanted to build (simple lines without a lot of cutting) so we could avoid the expense of a complicated build. Because of this, we chose to first find the land and then interview the architects while we were in deposit.

Your desired location is notoriously difficult to build upon. If you live in an area that is very hilly, densely forested, located on the coast, or has similar unique or delicate features, you will probably want to enlist the help of an architect or builder before you start viewing properties.

By hiring a professional first, you can rely on their expertise to guide you toward better or less expensive options. A knowledgeable architect or builder will be able to tell you if the land is challenging to design or build on, and hopefully steer you away from costly mistakes.

Your goal is to have the most energy efficient home possible. If you ultimately want to get a net-zero house or one that meets certain energy efficiency standards, it is a good idea to start the journey with an architect or builder with experience in that industry.

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The reasons are twofold: First, they can help you choose a package that maximizes energy efficient building methods. Second, they can give you a better idea of ​​how much things will cost on the construction side so you can budget well for the land (and not waste time looking at properties you can’t afford to develop).

You want an expert and partner in the process and a full-service personalized home experience. Does the thought of looking for land (and making sure it’s buildable) feel too daunting to tackle on your own? Talk to a builder! Some builders prefer to be part of the plan from the start and will visit potential lots with you.

When you sign up with a builder like this, they will help you find the right plot of land and may even offer interior design and engineering services.

If this type of one-stop shop appeals to you, look for design-build firms. These full-service firms take the roles of architects, contractors, and construction companies all under one roof, simplifying the process considerably as they overlap the design and construction phases. of the project.

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Read on to learn exactly what to look out for when buying land—including the things no one talks about!

When doing your due diligence, the most important factor to consider before buying land is its location. In real estate, location trumps all other features because, well, if you don’t like where you live (or realize it’s too complicated to build on), it doesn’t matter if you can afford it.

Under which municipality does the land fall? Here in Bend, Oregon, land is either part of the City of Bend or part of Deschutes County, and each has its own set of building requirements, building fees, and services. public (such as road maintenance and mail delivery).

In our experience, land that fell outside the city limits was much easier and less expensive to develop, although it typically won’t appreciate as much as land in the city. We generally enjoy lower taxes but are not allowed to vote on certain city ballot measures that could impact us. For us, the compromises were worth it for these and many other reasons.

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Does the community have potential for future development? Not only do you have to consider where all your neighbors are, but where they are

What surprises many new owners is when they buy their land and suddenly find out that an apartment complex is going up across the street. Be sure to check what the current zoning requirements are for your neighborhood, and don’t be afraid to talk to the neighbors (who often have a few nuggets of information about what’s going on in the community).

Are there any zoning restrictions? In addition to finding out what is allowed to be built in the neighborhood, you should also know what

Allowed. Certain zoning laws may restrict the type of house you can build, the number of chickens you can keep, or whether you can add an ADU or other building on the property.

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There will also be setbacks in the property that you have to live with, which can greatly affect the size and orientation of your home. In our case, we also had to consider the solar setback of our house, which dictated how much we could build on our lot.

Are there HOAs, CC&Rs, or deed restrictions? Zoning isn’t the only potential limitation to what you can build on your lot. If you are buying land in a subdivision, there may be covenants in place that spell out the colors you can paint your house, the type of landscaping you can have, or the style of fencing allowed.

Not to mention, established communities may have membership or association fees that ultimately make your monthly mortgage too high.

Some subdivisions may also have deed restrictions on removing trees, obstructing a neighbor’s view, or parking an RV in your own driveway. Be sure to obtain copies of all these documents in advance and read them carefully if you are considering buying the lot.

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What is the neighborhood? Sometimes this is not something you can determine right away, which is why I recommend visiting the property morning, day and night to get a feel for the neighborhood. Visit it on the worst day if possible, when it is full of localized traffic or after a big storm.

Look at how neat (or not) the front yards are. Chat with the neighbors who walk their dogs and ask them what it’s like to live there. Let them know you are thinking of buying land to build on. We left the properties simply because of what we found out about the neighborhood.

And really study what’s nearby (zooming in the Google satellite view really helps here). Is there a landfill a few miles away where the wind can blow in a certain direction and make your house smell? Do the neighbors have a noisy motocross track in their backyard? Is there an open space near the property where people are allowed to shoot?

Are you near any amenities? How long it takes to drive to schools, grocery stores, parks, trails, or your favorite places. If you think you’ve found your dream property but it lengthens your daily commute, be honest with yourself about whether those extra 30 minutes are worth it (especially if you live in a snowy climate).

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This is an area that most people don’t think too much about, but in my opinion, lot orientation is everything (especially if you’re hoping to build an energy efficient home).

What shape is the lot? A square lot gives you many options for building and landscaping, while an odd-shaped lot is more difficult to develop.

Take our lot, for example: It’s wedge-shaped, which means there was really only one place we could put our house if we wanted a big, sprawling backyard. Fortunately, we like our house to be set back from the road, so the narrower end of the lot was perfect for our driveway.

What direction is the ground oriented? What really sold us on our property was the abundant exposure to the south, which allowed

What You Need To Know When Buying Land To Build A House

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