Our goal at Santa Cruz Properties is to provide families in the Rio Grande Valley with gorgeous owner-financed lots in Edinburg. And while many individuals may dream of becoming landowners, they might not necessarily know what they’ll be able to do with the land.
Read on to find out more about the ins-and-outs of purchasing residential land.
What is residential land?
Residential land is property that will be used by families and individuals for private housing. The most common living situations that can be built on residential land include single-family or multi-family homes, condominiums, apartments, duplexes, and townhomes.
Residential zoning has specific requirements that give it the residential title. The specifications differ greatly from commercial, industrial, or agricultural zoning. If you are interested in building and renting out a house, or building your very open apartment complex, then residential land could be the best option for you.
How can residential land be used?
You Can Build a Home
Whether you’ll be building a single-family home for yourself or multi-family housing to rent out, real estate can be a solid investment. Residential lots for sale are likely to be zoned appropriately.
Speaking of zoning, you should be aware of the zoning around the property, as well. In certain scenarios, residential lots may be surrounded by agricultural or commercial lots.
Should you ultimately decide to use your residential land to develop homes or apartments to rent out, there are a few things you should take into consideration:
- How far the property will be from town amenities. Consider the nearest restaurants, shopping centers, jobs, hospitals, and schools. These amenities will be important to families.
- Quality of schools. Parents want the best for their children and being zoned to a great school is going to be a top priority for many of them. Another concern would be the commute to school and availability of a school bus route near them.
- How accessible the property is. People love living in a rural setting but consider a property that isn’t too far off major roads.
Types of Residential Properties You Can Develop
Depending on the specific zoning laws, your residential land may be used to develop specific types of property. These types of residential properties include:
Low Density – This type includes single family detached homes with a private yard. Again, zoning laws will determine how many homes can be built per acre.
Medium Density – Can include attached or detached homes. In some cases, housing may include open or private space/yard.
High Density– A wide range of homes can be built here, either detached or attached. In most cases, high density is used for condominiums, apartments, and townhomes. There is a limit on the density of units that can be built per acre.
Additional Uses of Residential Property
- Recreational Use – Property that is large enough could be used for recreational purposes. This typically doesn’t require much, if any, development or maintenance.
- Build a Parking Lot – This could be very beneficial if you own a lot near a big attraction.
- Community Park/Dog Park – If you’re interested in building a subdivision, or apartments, it may be in your best interest to set aside some of that land to build a community park/dog park for your residents. The value of a park brings up the value of all the other property nearby. Your residents (both human and canine) will appreciate this.
Be Aware of Laws
Laws regarding property restrictions vary from city or state. Keep up-to-date on these restrictions as they can greatly affect your property.
- Animal Restrictions – Most residential properties allow domestic animals like cats and dogs. Here in the Rio Grande Valley, however, there are many residential lots that appear to house animals like horses, goats, and other traditional farm animals. While this can make residents think that all properties can house these types of animals, that’s not really the case. There are city ordinances that keep farm animals out of residential neighborhoods. There are some exceptions, depending on the size of the animal, but of course, you will have to check with your local city hall and educate yourself on what is and isn’t acceptable.
- Home Businesses– Sometimes landowners want to start a home business on their property. But there may be certain regulations restricting you from doing just that. For the most part, most cities will allow you to have a small business as long as it isn’t disruptive. You can find out specifics through your city ordinance office, which will give you a list of approved business types.
- Utilities – You should make sure that your residential property will be able to connect to utilities such as water, sewer, cable, and telephone services. If you buy property out in the country, then you may need to install a septic tank, have the telephone and cable company install services for an extra fee, and get in touch with a water well company.