Lots and Land: Do You Know What to Ask?

Buying a lot or land for your new home?

The quest for your dream home often starts with a search for the perfect lot or piece of land. As with anything in the home purchasing process, the land you choose is an important factor and is not something to be taken lightly. There are many questions to consider about the land you want to build on and having a real estate agent with land experience can really help smooth out the process. As if deciding on the right builder and the right style of your new home isn’t enough!

There are several questions you need to ask your Realtor when you are searching for a lot, especially here in Texas. Let’s consider some of these questions (in no particular order):

• Is the lot in a floodplain?
• Are there any zoning restrictions?
• Are there any potential environmental hazards such as endangered species?
• Are there restrictions in the neighborhood or with the Home Owners Association?
• Are there potential issues with impervious surfaces?
• What easements are on the lot (and what will be left to build on once these easements are taken into consideration)?
• What size home can be built?
• Does the lot already have utilities on it and can you hook up to a public sewer or will you be required to have a septic system?
• What types of cost will be incurred due to the topography of the lot and will your preferred builder be able to help you grade and level the site you have chosen?
• Do the mineral rights convey with the property?
• How do I obtain financing for a lot and the new home I want to build?

Each of these questions has its own set of questions, so look forward to more answers on these and any other questions you may have regarding lot and land purchases.