With so many things that the Rio Grande Valley offers, looking into buying land in the region can be exciting. The process, though, can be more complicated than buying a house. Although a vacant lot can have potential as a location for a future home, there are other factors to consider. Learn to evaluate your future piece of land and avoid any common legal pitfalls when purchasing by asking yourself the following key questions.
What Features Are Available?
Explore the land that you’re considering to purchase. Are there nearby bodies of water or thick portions of grass? Its features need to be considered before you sign that dotted line. Also take into consideration how much maintenance your land will need once it’s yours and evaluate the price you’ll be paying to do so. Remember, you might be putting more money into that new piece of property in order to keep it looking great.
Can You Build a Home on It?
Depending on where it’s located, land can be considered unfit for construction. There are various reasons this is done, such as if it’s located in an area that floods often, is near hazardous materials or if its zoning requirements have not been met. Ask us if our land is fit for construction if you plan on building your next home.
Which Utilities Are Available?
Some realtors don’t set up utilities for land they’ve sold. Depending on where you’re looking to live, utilities might vary. If living in the city, you’ll more than likely be required to pay for your own utilities. If living outside of city limits, your property might need a septic tank. Other utilities to consider are electricity, water and Internet access. Look into available companies that cater to your location.
What is the Community Like?
Do you want a gated community for your family or would you prefer a non-paved road? Always make sure you’re buying land in a community that you’ll plan to spend many years in. If you want to build a house, be sure that your location is suitable to support one. If there is a high level of vegetation, perhaps your property is more suitable for a farm. Future neighbors are also another factor to keep in mind.
Will You Need a Loan?
Decide how much of a mortgage you’ll need in order to purchase property. While some people often apply for loans, we offer owner financing. With no credit checks, this is a great option for those with bad credit or no credit at all. Find out more about our owner financing services here
Find What You Need
It’s always best to know as much as possible about the land you’re thinking of buying, and it’s important to ask several questions about what to expect. At Santa Cruz Properties, your satisfaction is a priority. If you need help starting the land-buying process, get in touch with us today at 956.383.0868.