Buying a lot is one of the most daunting tasks you may need to handle before constructing your house. Be it for the construction of your dream home or simply for investing idle cash, buying vacant land comes with risks and hassles. While the decision may seem intimidating initially, you need to research thoroughly and know who you are buying from to avoid regretting the decision. Remember with buying vacant land, you may also face issues that are difficult to handle. Always consult with a realtor to know if your decision syncs with your requirements.
If you have already started researching new lots for sale in Kelowna, here are the do’s and don’ts you must keep in mind. That way, you will gain meaningful insights about buying vacant land and avoid making mistakes.
1. Connect With A Realtor When Buying Vacant Land
Buying vacant land won’t be easy if you try to handle everything on your own. Therefore, a better option would be to hire an agent who is familiar with the current scenario in the real estate market. Chances are that the person you hire will already have helped several clients buy and sell lands and will naturally have more experience. Therefore, if you process your land deal through an agent, you can avoid the mistakes and above all leverage the experience of negotiation.
2. Check Your Finances
Before buying vacant land, you need to review the prices of new houses for sale in Kelowna and check your finances. Do you have funds to cover the price of empty lots and the associated costs? If you are planning to buy land for building a new house, you will need to keep money for that as well. Moreover, purchasing land comes with other financial burdens, so make sure you know how to handle everything smoothly and do not turn house poor eventually.
3. Check The Size Of The Lot
One of the questions you need not forget to ask when scouting for empty lots is about the size. Keeping in mind that you want to build a house, it is necessary to assess the size of the lot so that your dream home design is not compromised eventually. If you have plans to have extensive landscaping outside and have sprawling laws, you must consider getting a big-sized lot that meets your needs adequately. Why don’t you take a look at your surroundings to find the architectural designs of new Kelowna homes for sale? That way, you will know what the size of your lot should be to build your dream home.
4. Check The Price Of Lakeside Properties
Lakeside properties are usually more expensive than the other options. Therefore, you need to get an estimate of vacant lots near water bodies if you want to enjoy the best views from your house.
5. Accessibility To Roads
Is the vacant land you are planning to buy situated close to the roads? Can you take your car from your house to the workplace every day? If your house is not accessible, you will have travel issues and other problems.
1. Forget To Enquire About Utilities
Is the land you are trying to purchase situated in a developed area or a remote area? The latter won’t have access to drinking water and sewage system. Make sure you are ready to go for properties that are close to towns. You need to decide between the properties situated near the city and towns before you buy.
2. Forget The Environmental Tests
Every vacant lot needs to be screened for various reasons and one of the most important is the environmental tests. Typically, such tests determine whether the soil on your lot is more contaminated. You need to appoint a professional for screening to make sure that the vacant land complies with environmental regulations.
3. Skip Zoning
Every vacant land has zones, ordinances, and codes. Zoning is one of the most important factors to consider when you buy vacant land and failing to consider it may lead to a major mistake. You need to buy land that will allow you to build a house within your limits and know the zoning restriction is necessary.
The decision to buy vacant land is a perfect one if you know the do’s and don’ts and comply with them. But if you cannot take the stress of compliance and follow a process to complete the purchase, you may start searching for Tower Ranch homes for sale and secure good deals from us, one of the best builders creating trailblazing homes in Kelowna for over 30 years. No matter what your decision is for buying a home, it needs to meet your budget and lifestyle requirements.