03/27/2023
The path to finding your perfect property may seem like it stretches on for a million miles, but have you ever considered the possibility that your dream home doesn't exist just yet? Buying a parcel of land to build your own home just may be the answer to your prayers! Before you rush out to break ground, though, consider some of these tips and tricks for buying acreage ⬇️
➡️ DO consider the value of homes in the neighborhood! The value of your home is determined as much by its build as by the homes around it. Getting to know price trends in the neighborhood will be a great indicator for how much you should spend building your home, and can ensure a return on your investment should you decide to resell in the future.
➡️ DO take utilities and road access into account! Running water, electricity, and sewers are all a given when purchasing an existing home, but when buying land, it's always your responsibility to check -- especially since implementing infrastructure for utilities can be an additional cost when building property!
➡️ DON'T skip the environmental tests! Like with any major purchase, you need to be certain of exactly what you're getting before you invest, and when it comes to land, it's important to know whether the parcel you're buying is even suitable for building. Environmental tests check the soil for contamination, as well as potential for flooding and viability for building. These tests are vital to protecting your investment and your future home, so make them a priority!
➡️ DO consider incentives! Local government sometimes offers incentives in the form of tax breaks or easy planning approvals to encourage development or rebuilding after a natural disaster. Keep these incentives in mind when shopping for land, but be certain you intend to build -- city ordinances against vacant land are becoming more common, which could put your investment in danger if you leave your land dormant instead of constructing a property.
🏡Oliverio Realty
📲(304) 282-1184
🌐oliveriorealty.com