Tips for Buying Land to Build a New Home

Whether you're having trouble finding the perfect home on the market or have always dreamed of building your own home from the ground up, there are a variety of advantages to buying land to build a home. But shopping for vacant land is also a bit different than buying a house, so it's important to be prepared. That's true whether you're buying acreage in the country or a smaller vacant lot in a more urban area. Researching the process ahead of time makes it much easier to find the right piece of land for your next home, and we've got some key tips to help you achieve your goals.

1. Location
   Location is naturally still a huge priority when shopping for land, just as it would be when buying a house. You'll want to make sure that the land is located in a community you can love, with a manageable commute to work and all of the local services that you'll need. Of course, location will also have an impact on price, so it's a good idea to consider school districts, nearby attractions, the demand in the community, and anything else that may impact the cost of the land.
2. Neighborhood
   For long-term happiness, finding the right neighborhood is almost as important as building the right home. The neighborhood where the land is located has a big impact on your day-to-day life, so consider whether a neighborhood has all of the services you need, what you'll do for fun, and what your neighbors are like. If there's anything you simply must have from your new neighborhood, place it at the top of your priority list while shopping.
3. Zoning and Land Restrictions
   The last thing that you want is to purchase a piece of land only to find out that local zoning laws or land restrictions may keep you from building the home of your dreams. Find out whether there are restrictions on any plot that draws your interest, and research the zoning of your plot and nearby properties.
4. Access to Utilities
   If you're buying land in a rural area, then it's vital to make sure that you will be able to gain access to all of the utilities you need, including water, power, and internet service. A larger piece of land may require new utility lines or pipes to be run, which can add to the cost of developing the land.
5. Options for a Land Mortgage
   Planning to finance your land purchase? Then just like with buying a house, it pays to start researching your mortgage options early. It can be easier to secure a land mortgage for partially developed land with some utilities in place, but there are still loan options available for plots that haven't yet been improved in any way. 
6. The Right Real Estate Agent
   No matter what you're looking for from your next plot of land and the home that you will build, there's no doubt that working with the right real estate agent will simplify the process. Ask for referrals from trusted sources, interview multiple agents, and don't stop until you find the right match for your needs.

While there are a variety of unique factors to consider when buying vacant land, there are also many similarities with buying a house. By choosing the right location, understanding exactly what you're buying, planning ahead, and identifying the right real estate agent, you can find land that's perfect for building your next home.

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