"More and
more, people are deciding to buy land on which they will build their dream
home. In this way, they are guaranteed that the home they buy meets all of
their needs and wants as the home is built to their specifications.
When looking to buy
real estate on which you will build a home, however, there are still many
things to consider. Similarly, it is still beneficial to enlist in the help of
a real estate agent. With the help of a realtor, you can look at several
different pieces of real estate in order to find the piece that is best for
you. In addition to considering the way the land looks and how nicely your
dream home will fit on this piece of real estate, there are other factors you
should take into consideration as well. These include:
* Checking on
utilities
* Looking into
easements
* Finding your
boundaries
* Considering road
maintenance
* Utilizing
contingencies
It is easy to fall
in love with a piece of real estate and to want to buy it right away. In order
to make sure you are making a wise investment, however, it is essential to
consider each of these factors first.
Checking on
Utilities
Depending on the
location of the piece of real estate, certain utilities may be unavailable. Or,
you might have to pay some very high fees in order to get the utilities ran to
your new home. Before you buy the piece of real estate, make sure you are aware
of its limitations and what you will need to do in order to get the utilities
in place.
Looking into
Easements
An easement is when
someone has the right to use the land for some other purpose. This may be a
private individual or a company. For example, if power lines are located next
to the real estate you are looking to buy, the power company may have the right
to access your land in order to maintain the power lines. Find out about any
easements before you make an offer to buy a piece of real estate or insist that
you be able to approve easements before you finalize the sale.
Finding Your
Boundaries
Many banks will
require that you have a boundary survey conducted before they will loan you the
money to buy your land. If the bank does not require a survey to b conducted,
it is a good idea for you to request one anyway. When you make an offer to buy
a piece of land, it is usually a good idea to quote a certain price per acre as
determined by the survey that is to be taken.
Considering Road
Maintenance
If you are looking
to buy real estate that is on a private road, you will need to consider how
your road will be maintained. In many cases, the bank will require you to show
a recorded agreement showing that you and any other property owners on the road
will assist with the upkeep of the road.
Utilizing
Contingencies
There are a number
of factors that can cause the land to be unusable for you. For example, if the
land does not have a sewer hookup, your decision to buy the real estate will be
contingent upon whether or not you can get a permit for a septic system.
Similarly, your house design will need to be approved by an architectural
review committee. Therefore, whether or not you buy the real estate will also
be contingent upon the design getting approval.
By taking all of
these factors into consideration and planning ahead, you will be sure to get
the home you have always dreamed of!"
About the Author
Kinan Beck is the
Broker and co-owner of One Source Realty in Austin Texas. Visit Kinan's Austin
Real Estate Guide, visit his Westlake Real Estate company's website, & his
Austin Texas real estate website.
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