An informed buyer definitely wants to stay on top of the ever-changing real estate market. Texas land varies from place to place and that’s part of knowing where you are looking to buy. Because after all, real estate is all about location, location, location! What’s may be a real sale in one area may not be in another. In general, the cost of land drops the further one gets from the major population centers. The result is that the least expensive acreage is also the furthest away.
Many people buy land because they want to more space and more quiet surroundings. Others buy property for recreation, which can include hunting, fishing, hiking, birdwatching, or even photography. In general Texas land that is for sale that include trees will be more expensive than grasslands. Not only does woody vegetation add a shade, but it serves as habitat for wildlife associated with woodlands.
There are many considerations that must be taken into account before buying a piece of property, whether it be 1 acre or 1,000 acres. A few things to consider before purchasing your amazing lot or parcel of Texas land would include:
Utility Easements – Review the survey of the property to determine what utility easements exist, their location and the potential impact on construction, and on aesthetic issues that could affect your enjoyment and/or resale of the property.
Utilities – Make sure you are clear on what utilities are available on your lot and what the approximate costs will be to supply them. Often, in more rural settings, you will need to bring power from a somewhat distant pole to your lot, dig a well, and install a septic system. If you are a high speed internet user, check to see if service is available.
Proposed Public Works Projects – Proposals for public works projects such as overhead utilities and highway construction are usually filed years in advance.
Lot Coverage and Other Restrictions – Local zoning typically includes restrictions on the size, building materials, placement and height of fences, and positing/setback of structures on a property.
Homeowners’ Association – Purchasers of property sometimes learn of the existence of a Homeowners’ Association after the deal is closed. Homeowners’ Associations can impose deed restrictions and other regulations that may prevent the eventual construction of your home from going forward as planned.
Is the Lot Truly “Buildable” – A lot that is represented as “buildable” may not allow for the construction of the home and amenities you’ve envisioned on the site. Ensure that your offer is contingent on architect/engineering inspection/approvals for suitability for your project.
Change in Tax Status – The owner of land that is currently zoned for other than single-family residential construction (farmland, for example) may incur unfavorable property tax consequences upon approval for a change in use.