Some homebuyers and entrepreneurs find it preferable to buy an empty plot of land to construct a home or building from the ground up. Vacant land purchases can proceed without difficulty, though you should be sure that you can use your land as you intend.
Empty land often requires more in-depth studies to ensure you can build on it. U.S. News and World Report explains some key steps to take into consideration.
Before buying a property, you should have a thorough understanding of how zoning laws apply to your land. It is important to know the following:
- The authority which zones your property
- How zoning laws limit the use of your land
- Whether you can seek zoning exceptions
In addition, seeking out approvals for building permits may not come easy. You could have to wait months or even years to acquire permission.
Even if a plot appears perfectly fine, there could still be environmental issues that plague the soil. To take an example, land that once held a manufacturing plant could have chemical residue in the ground, making it hazardous to build a residence. Additionally, contaminated soil can create an unstable foundation for a building.
Survey the land
It is also important to consider the risks of encroachment on your land. Vacant land in particular is easy to encroach on, particularly if it lies in a neighborhood. Having a surveyor check the boundaries of your land could reduce the risks of legal disputes with neighbors.
Though these factors are important, keep in mind that vacant land purchases are not all the same. Pay attention to any specific factors which could affect your land.