How To Buy Land Safely and Profitably - Vacant Land USA
how to buy land

How To Buy Land Safely and Profitably

Do you know how to buy land?

Here is the low-down on how to buy land safely and profitably.

It is not as scary as you might think and who knows, you may even enjoy the process and repeat it many times as you decide to grow your small empire....

It is much less scary, and less risky than buying a home or a commercial building which many people have already done. However as always there are certainly a few things to be aware of.

Many city dwellers dream about the day that they will “one day” buy a plot of land and build their dream home. Is this you?

Perhaps you fancy living “off the grid” and doing away with utility bills forever?

Perhaps you want to grow your own food and raise a few animals and slash your grocery bill by 75%?

Perhaps you want a weekend retreat to chill out away from the chaos and traffic of city life?

This is certainly possible and many hundreds of thousands of people do it each year. But as with everything, it is important to understand the process and consider all the pros and cons before taking the leap.

Maybe you cannot find your dream home at a price you can afford. Do you give up and stay in the rental cycle forever?  Maybe you feel that you don’t know how to get started? Meanwhile others work out how to buy land, buy a delightful parcel, get their dream home designed and built and live happily ever after.

The process is not difficult once you know how to buy land. In fact the danger is once you work out how to buy land, you may get addicted to how easy it is and keep buying.

Buying land is its own skill set and there are other things to be aware of to ensure you get a parcel of land that will serve you and your family for the years to come

How To Buy Land-Check Access

When buying rural land, always check the easements on your property and neighboring properties.

If you need to cross someone else’s land to get to your property, you need to have a legally recorded easement. Also be sure to check if any of the neighbors have easements over your property. In some counties, there have been 15ft -20ft easements granted on all acreages to provide access to everyone. Be sure to check BLM land too.

Much of the land in rural settings may be considered land-locked. This means that you can only get to it by crossing someone else’s land. In some cases the property is in the middle of nowhere, no one is living there and the owners have inherited it and never use it. Many people use this land anyway as there is no one standing out the front of each property guarding the boundaries. There is nothing there to protect- it is vacant land.

If you are not looking to build, this may not be a problem at all. It may allow you to buy the land cheaply. Many owners cross each others land for the purpose of hunting on it , or camping on it for a few nights or spending a great weekend on their ATVs and dirt bikes without a problem.

However a problem may occur if you wish to build on it or start a business on it. You will need to show legal access to get a building permit from the County. You will need to show legal access if you wish to secure lending from a bank for your construction.

Sometimes it is easy to get legal access. You may be able to negotiate with your neighbour. They may want financial compensation for granting you access. It is up to you negotiate a sum that is reasonable to both sides. Make sure you work with an attorney who can ensure the access you gain is legal and recorded at the County.

However there is no guarantee. The neighbor may outright refuse to grant you an easement rendering your land useless for the purpose of building your dream home. So do not rely on this. Ensure you have all the access you require before you buy a parcel to build.

How To Buy Land-Check Utilities

Utilities are a sizeable consideration when buying rural property.

Download our free checklist on How To Buy Land Safely and Profitably

In some cases you can easily connect to the local services.

In some cases, local services are too far away and you need to provide your own telephone, water, power and septic systems. For many people this is no problem and this is the whole point of having rural property is to get off the grid and be self sufficient.

In many rural properties you need to drill a well in order to have a constant, reliable source of water. It is a good idea to contact 2-3 local well drillers to get an idea of how far down the water table is, and what the likely costs might be. Do not drill a well until you read this.

It is also a good idea to have systems in place to harness and collect any rain water that might occur at different times of the year.

If you cannot hook up to a city/town sewer (or choose not to), what will it cost to install a septic system?

Is that allowed on your size parcel?

Some counties have regulations that the parcel needs to be larger than 1 acre in order to have a septic system installed. Others may be smaller.

If you know that you will need to install a septic system, find out if a perc test has been done. This is a percolation test which assess the rate at which water drains through soil. This will be necessary to get septic installed. A call to some local septic contractors will give you a good idea- especially if there are other homes being built in the area.

Financing For Buying Land

So you have borrowed from the bank to finance your first home?

Surely they will lend to you again?

Negative!

how to buy land

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