As we commence the new year, now is the time to look into investing in your own piece of land. Understandably, because it is such a big investment, both emotionally and financially, it is natural to want to have your questions answered before making the leap.
The East Texas owner-financed lots and land experts of Santa Cruz Properties are here to give you an overview of things to consider when buying land in 2020, as well as what questions to consider in the process.
Investing in Owner-Financed Land in 2020
Rather than renting property and dealing with landlords over property you’ll never actually own, it’s worth starting the new decade by investing in yourself and your future. While there can be potential roadblocks to purchasing property – depending on your financial situation and credit – there are, thankfully, several potential options.
With owner-financing programs, like those offered at Santa Cruz Properties, rather than having to go through a bank to get approved for a mortgage, you can purchase property directly from us. Additionally, owner-financing can mean lower down payments and closing costs, as well as a speedier purchasing process.
Learn more about the owner-financed properties offered at Santa Cruz Properties.
Questions and Factors to Keep in Mind Before Investing
1. What am I able to do with my property?
When buying land, you need to be fully aware of the type of land you are purchasing as it might be zoned for a specific use. The primary types of land are: residential, recreational, and agricultural.
Other things to keep in mind include knowing whether or not your land is within a flood zone, whether there are any liens on the property, as well as distances to nearby amenities and necessities.
2. What taxes would I be responsible for?
In order to determine what taxes you are responsible for, you will need to know the going rates for property in the city/county you live in, as well as your properties zoning status. The best way to find this information would be to get in touch with your local government tax office as they can provide the necessary information.
3. What zoning laws do I need to comply with?
The area in which you purchase property may have specific rules and regulations that you weren’t expecting to comply with, because of this, it is crucial to do as much research about the land and surrounding area as possible to best understand what laws may apply to you.
4. Will I have access to essential utilities right away?
When obtaining property, you might be under the notion that you will have access to utilities immediately after signing the contract – but this isn’t always the case. It’s worth estimating how much additional funding you will need to invest in your property for utilities on top of the property purchase itself.
Choose Santa Cruz Properties for Gorgeous Owner-Financed Properties in East Texas
The East Texas owner-financed land experts of Santa Cruz Properties have been helping clients reach their landowning dreams for more than 25 years and counting! Learn more about our gorgeous East Texas properties that are currently available!