How to Buy Land: A Purchase Guide
This guide will walk you through the typical purchasing steps.
From the benefits of land ownership to owner-financing, we cover it all.
Why Should You Buy Land?
Becoming a land owner can be its own reward, but there are more benefits that can make your life better.
Qualify for Property Tax Exemptions
How you put your land to use can mean potential savings every year. Depending on the case, you may qualify for an agriculutural and timber exemption – or even a wildlife exemption! These can greatly reduce your property taxes on an annual baisis.
The Freedom to Develop & Generate Income
Farming, land developing, leasing – the list of options is numerous. You don’t have to be an expert builder or a developer , if the property is suitable to build on you can always find someone that is and is willing to pay to use it.
Get Utilities & Build
Build your dream house or ranch on your own land – now that is the American Dream! Many subdivisions have requirements on what you can build or even what “look” is allowed. But not when you’re the land owner. Make sure to contact the local utility office to request a quote and get started on your path to building on your own land.
Getting Started: How Much Land Do I Need?
A major goal of ours at Santa Cruz Properties isn’t only to get you into the land of your own but to make sure that it meets your needs and budget. Our team of experts will help you figure out the specifics and find a lot that best suits your expectations. A few things to consider when deciding on the lot size you need include:
- Zoning designations and requirements can greatly affect the type of home you build or even how you will use the land (if you’re thinking about using some of it for farming for instance).
- Think thoroughly about the purpose of your land and how big you would like your home. Are you planning on building a multi-bedroom estate (complete with pool, garden, and farming area) ? Even if that’s your goal 7-years down the road, you’ll still want to plan for this space. If you’re planning on something a little more modest (and no farming), a ½ acre can be sufficient. Or perhaps you would like to have a few cows and chickens, then you’ll need more land – and zoning will play a role in this as well. Remember: The size of your home is going to affect how much land you need.
- It’s worth noting that a water meter and septic tank are included with all
residential lots Santa Cruz Properties sales. However, on property that is 10 acres or larger, you will be responsible for these utilities. So take into
consideration the added costs of these utilities and how far you will want to build your home away from them.
It is a simple concept: the seller (owner) will finance the purchase. Owner
financed property can include houses and commercial property but is more
frequently seen with land. The owner of the property takes the role of the bank and develops the terms by which the loan will be paid back. Just like what would occur with a bank loan, a contract is drawn up that will inform the buyer and seller of the repayment schedule, fees, yearly interest rates, and any penalties that will occur if the payer defaults on the loan.
No Credit? No Problem.
If you’ve attempted to get a mortgage loan through a bank, you know that the process can be long and quite expensive. Besides having great credit you need to be able to have a sufficient lump sum to put money down, plenty of cash on hand for the all the closing costs and moving expenses, and a bundle of forms and papers including month’s worth of pay stubs, copies of W-2s from previous years, months of bank statements, proof of homeowners insurance – and much more. But with Santa Cruz Properties and our Owner Financing option, the process is much simpler and a credit check isn’t necessary.
At Santa Cruz Properties we simplify the process to help those who do not have the means to meet all the traditional requirements. In order to start the process with us, we only require a few things:
(A) Two current forms of identification including…
- A valid Texas Drivers License or Identification card
- A valid passport
- A valid social security card
- A birth certificate from your country of origin
(B) Down payment and other applicable fees.
Making the Dream a Reality
It’s far too common for people to be turned away from the land they’ve always wanted due to their credit history. At Santa Cruz Properties, you and your loved ones won’t run into this hurdle. Our real estate professionals will work tirelessly and passionately with all of your needs in mind to put you one step closer to owning the property you want without the worries of bad or non-existent credit.
With our owner financing services, you won’t have to experience the stress and worries that a bank loan can bring. Furthermore, you and your loved ones will be able to save an extra bit of cash on closing costs, have a say on the conditions of the loan and forego the need to qualify with a loan underwriter.