Consider This First Before Buying Land for Sale in Harlingen

If it’s your first time embarking on this adventure, you’re probably going to have a lot of questions. Is one lot better or worse than another? Is it going to be very expensive? What should I look for when choosing land?

Whether you’re looking for affordable lots in Harlingen to build a home or want to invest in building a rental property, buying land is a great opportunity that reaps big rewards. To clear any concerns or reservations you may have around this subject, we here at SRC Land have a few tips on how you can find the right piece of land that meets your needs.

1. Know Why and What’s Around

The first thing you need to do before you actively consider buying land is to discover why you want to buy land and for what you will use it for in the future. While this may seem rather straightforward, there are a lot of things to consider first.

It goes without saying that you’ll want to buy land that is quickly accessible to medical care, fire/rescue facilities, schools, and other public utilities, but your interests should come in hand here as well. Try to find a place where you can see yourself doing the activities and hobbies you enjoy doing.

For instance, if you have a green thumb and see yourself planting a beautiful garden, you’re going to need a lot that is spacious and has soil that is rich in nutrients. If you like to go hiking or the outdoors, you surely wouldn’t like to live in a zone where there’s no possibility for it. If you like to go shopping, you’ll want to be near a place with great shopping options.

You get the idea.

In Harlingen TX, there are many superb medical/rescue facilities, parks, and other great green zones surrounding the area, and it’s also an area that offers a wide range of amenities around the city so you won’t miss out on a variety of great deals.

2. Check for Utilities and Other Services

Another important thing to check before you secure your land purchase is which services and utilities are available in the area you’re interested in. When you ultimately build your home, you will need a water supply, electricity, gas, lighting, waste collection, and adequate drainage.

Then don’t forget to use the money you would save from taking advantage of our seller-financing options to search for and install TV cable or satellite, internet, and telephone services.

While the latter are much easier to acquire than the former, all of them could be considered necessary utilities and services. Should any of them be missing from your lot, a search engine like Google can become your best friend.

Search for any of the above utilities in the city you’re looking to move into, and you should be presented a few links to these local providers in the search engine results page.

3. Check Lot Specifics

Certain zoning laws may pose a challenge during your construction. Certain areas may require that the house can only be so big or that construction must take into consideration certain hurricane-proofing tactics, to name a few.

And if the land’s soil quality and elevation/drainage isn’t meeting your expectations for your residence or rental property, that could cause problems after construction as well.

Take the following into consideration before you secure your land purchase:

  1. If you plan on farming, does the soil contain enough nutrients and balanced pH levels to support plants or crops?
  2. Has the land been used by companies to mine or drill for oil? Was the land used for garbage disposal? Chemicals may still be present in the land if this was the case.
  3. Is the area prone to bad weather like severe thunderstorms, tropical storms, and hurricanes?
  4. Can the area drain effectively? Can it move out water quick enough to prevent flooding and property damage?

For information regarding zoning laws, reach out to your county’s assessor office or your municipality’s planning or building department.

4. Consider All of Your Costs

Always know what your budget is, and stick to it! There are many costs and fees to consider before buying new land in Harlingen, and it’s always good to be prepared beforehand so that there are less hiccups later.

Sit down one afternoon and take into account what all of these costs will be, such as:

  • The costs for any permits necessary.
  • The cost of purchasing your desired land.
  • The construction expenses associated with your residence or rental property.
  • Costs associated with installing utilities on your land.

Plant Your Family Roots With SRC Land Today

At the end of the day, it’s important to remember that this piece of land is the beginning of many adventures, memories, and experiences with your family for years to come. While this may be a nerve-wracking experience for first-time buyers, it doesn’t have to be.

SRC Land is a premier land development company, and for decades we have done what it takes to make sure that people realize and celebrate their dream of owning land. We take pride in our affordable lots for sale in Harlingen, Texas, and we take joy in seeing first-time land buyers smile when we offer a seller-financing option that fits their needs and budget.

Stop Hesitating and Start Living the American Dream. Our Land Experts Can Get You Started and Answer Any Questions or Concerns You May Have About Owning Land.

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Choosing the Right Plants for Your Land

Hey Landowners, Need Help Choosing the Right Plants for Your Land in Harlingen?

With your lot, you may feel like a painter with a blank canvas. While the possibilities of what you can do to beautify your land may seem endless, you don’t need to be a gardener (or have one around) to have nice greenery on your land.

It’s all about knowing the environment you’re in, your land, and your preferences. Today at SRC Land, we’ll be giving you some tips on how to choose the right plants for your land to create the landscape of your dreams–all without needing much of a green thumb.

Know Your Surroundings

The first step to make your green dream come to life comes with a little bit of homework. As with everything in life, a little preparation is key!

Observe the particular area that you want to grow a few plants in, think about what plants that you know of would look good there, and go from there. While it sounds easy, it does require a little bit of knowledge of the types of plants that thrive in the environment your lot rests in. The last thing you’d want is to plant a beautiful patch of pansies, only to see them wilt and die off during a Texas heat wave.

Look for native plants, as they tend to be low maintenance. Heat-tolerant plants such as buttercup, portulaca, yarrow, stonecrop, sunflowers, and verbena grow best in dry, high-temperature conditions that are normal in Texas, all while pleasing the eye.

Make Sure Your Soil (and Drainage) is Just Right

Check your soil to ensure that it has a balanced pH level and adequate nutrition. Too much pH in the soil can stunt a plant’s growth. Plants depend on soil because it provides support, moisture, and nutrients, but sometimes, a little bit too much of the good stuff can be unhealthy to plants.

Avoid excess moisture. Work the soil properly and place drainage pipes or raised zones to get rid of the excess and prevent root rot. Heavy rainfall or frequent watering in combination with poorly drained soil beds reduces plant yield and increases the risk of losses due to these types of root diseases.

For the Texas climate and soil, it is better to choose plants that can tolerate drought conditions. Keep in mind that even drought-tolerant plants need a period of establishment with enough water to take root and then be able to tolerate drier conditions. Look for plants that are drought-tolerant like aloe, geranium, coneflower, the Texas ranger rosemary, or creeping sedum.

Make a Plan

First thing you should do is locate the access points and determine where your living area will be. Decide which part of the lot you would like to beautify or stand out, where you would like to have shade, and where you think it all might look best. Don’t forget to take into account if your land is uneven or has complicated angles.

But don’t just stop there. Plants can spruce up any backyard stone pavers, wood decking, gravel pathways, or front porches. How you want your lot to look like is only limited by your imagination!

We here at SRC Land have been doing land development for decades, and over that time, we have picked up many different ways you can beautify your slice of the American Dream.

We may take pride in offering affordable lots for sale in Harlingen, Texas through our seller-financing solutions, but the joy we feel and see in helping first-time land buyers fulfill their dream of owning land is the reason why we do what we do.

Do You Have a Green Thumb But Lack the Land to Do It? Take That First Step to Owning Land in Harlingen By Reaching Out to Us Today!

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11 Closing Costs and Fees to Consider When Buying New Land in Harlingen

It may be easy for new buyers to become overwhelmed by all of the information and possible fees associated with the initial processes of buying land, but the land developers of SRC Land are here to clear the air.

No matter if you’re looking at buying land in the traditional sense or by taking advantage of seller-financing options, knowing what these fees could possibly be can help you make a more informed decision.

Don’t forget! If you’re looking for land in Harlingen, reach out to SRC Land today for more information on your buying options or possible fees.

How Much are Closing Costs for New Land Buyers in Texas?

Generally speaking, land buyers will cover around 2-5% of the entire expense of the listing, and while closing costs are not cheap, one of the largest mortgage costs happens to be the interest rate.

Throughout the time period of the loan, a couple of small percentage points can lead to a lot of money in terms of interest payments.

What are Some of the More Common Fees Associated With Buying Land for the First Time?

It’s important to know what kind of closing costs you could be charged when you buy your property. The following fees may not be applicable to your particular land purchase, so if you need more information on what may be charged should you purchase land with the help of SRC Land, contact us for more information.

With that said, here are some of the most common:

1. Loan Origination Fees – Loan origination fees are upfront charges the lender will charge to compensate for fees paid for a new loan application. These loan origination fees are often 1% of the rate of the mortgage amount and can be discussed if the risk factor of both the loan and the borrower is reasonable.

2. Discount Points – Discount points are a form of prepaid interest that can be purchased directly to lower the interest rate owed to the bank. These fees can be negotiated and taken care of by the bank.

3. Appraisal Fees – Appraisal fees pay for an appraiser to show up and identify the property’s value. Lenders typically require this and can have them range between $300 to $500 based on certain land characteristics such as size, location, and property type. Even if it isn’t mandatory, you should still get it done to ensure that it’s a fair market value and avoid overpaying.

4. Title Insurance – Title insurance is a type of indemnity insurance provided by title companies that insure against losses caused by defects in the title like liens, outstanding taxes, mortgages, and violations belonging to prior owners.
A title search is used to guarantee that the property is free of any and all obligations and that no individual has claimed the house due to unpaid dues, legal suits, and other things. Title insurance can cost up to $252, and a title search could go anywhere from $75 to $100.

5. Prepaid Costs – When a buyer acquires their loan, the lender might have them cover expenses including property taxes and homeowners or rental property insurance ahead of time. The lender will list these fees in a calculation of closing costs known as The Good Faith Estimate. This buyer is given this no more than three days after filling out a loan application.

6. Recording Fees – Texas doesn’t have any taxes or fees on the real estate transfer. Usually, states charge somewhere around $.55 for every $500 of value.

7. Survey Fee – The survey fee pays for a surveyor to appear and assess the precise boundary, location, and legal description. This fee can range from $338 and $670 depending on the size and location of the property.

8. Credit Report Fee – When your lender accesses your credit so you qualify for a loan, this cost will go roughly $50 to $60.

Additional Costs You Should Know

It may come as a shock that you still have more costs to consider when buying land for the first time; however, it’s in your best interest to do your homework and know before finalizing a purchase on your dream land.

9. Homeowners Insurance – Homeowners insurance is especially imperative for homeowners to have since it handles potential damage to your home. Your first year’s insurance is covered at closing. How much you will have to pay can differ significantly based on your home’s size, your assets, and your home address.

10. Property Taxes – Property taxes are a great source of funding for the city, county, and state governments. The taxes are evaluated from a percentage of the official rate of the property. Property taxes are frequently negotiated due to its various boards, councils, and legislatures meeting to figure out the appropriate values.
Texas’ property tax rate scored sixth highest in the country and costs the average homeowner about $1,500 per year. This is worth noting when deciding to buy a home since that bill can come out to $125 a month in property taxes alone.

11. Utilities and Maintenance Costs – A single month of utilities (heating, electricity, gas) can go up to roughly $174.

Find Land at a Fairly Low Rate With the Experienced Land Experts at SRC Land

As a potential landowner, it’s key to understand every fiscal responsibility that comes with owning a home. Knowing what costs to expect should help you come up with how much you’ll need to save for closing costs.

At SRC Land, we know how overwhelming the process of buying land can be, and that’s why our goal is to simplify it and work with you for the best turnout. While it bears repeating, these fees may not be associated with your particular purchase, so if you want more tailored information regarding the lot you are interested in, contact us as soon as possible!

Find the Best When You Invest in Affordable Land in Harlingen, TX with SRC Land!

Contact SRC Land Now

Reasons to Buy Land Before the End of 2020

2020 has been a rough year for all of us. For many, life today looks nothing like what it did at the beginning of the year — but life does still go on. Big decisions like getting married and buying a home are still being made. While making those choices is particularly difficult right now, there are some silver linings.

The end of 2020 is actually a great time to invest in real estate. Real estate is generally a smart investment, no matter what the time of year. But some times are better than others. 

Below the team at SRC Land explains why 2020 is a good year for land buyers, and why real estate might just be the investment you’ve been looking for.

Buying Property in 2020

There’s no denying that this year has been unprecedented. The combination of an election year and a pandemic has collided with the other real estate trends that have been developing for years, all of which have come to make 2020 a particularly good time for those interested in buying a home or property.

1. Mortgage Rates Are Low

If you’re considering buying a home, you’re probably considering credit options. While SRC Land offers Harlingen owner-financed lots for those unable to access credit through traditional lenders, low mortgage rates may be one factor to consider if you’re wondering if buying a home before the end of 2020 is right for you. Specifically, mortgage rates have dropped significantly since their peak in 2018. In fact, mortgage rates have hit record lows 9 times this year.

2. Prices Are Low

According to data collected by the Federal Reserve, sales prices on homes have been decreasing since 2017, based on a median price. That decline reached nearly 10 percent by the end of 2019. In 2020, prices haven’t dropped, but they have reached a “softening period.” Those prices are expected to rebound in the coming year.

3. The Stock Market Is Weathering the Storm

2019 was a good year for stock investors, putting them in a solid position to start the year. While 2020 has been chaotic, the stock market is still doing relatively well. This means both that the economy is healthy and that your own investments may be rebounding.

Buying Property at the End of the Year

Just like Halloween candy and airline tickets, you can save money on property by buying at the right time. By being patient and striking at the right time, you can save considerable money on your investment.

1. Thin Competition from Buyers

The one thing all of us probably remember from Economics 101 is the concept of supply and demand. When demand is low, prices are likely to drop. Because of this, October and November are generally a great time for home shopping. This is the time when most buyers stop looking for the year. December is particularly good because most potential buyers will be busy with the holidays.

2. Save on Taxes

Buying a lot or land for sale in Harlingen represents a significant opportunity to save money on your taxes for this year. These savings come in a few key forms:

  • Deductions —  If you buy a home prior to Dec. 31, you can deduct some of your mortgage loan interest, closing fees, and property taxes. Taken together, these deductions add up fast. This is especially true when your mortgage is still relatively new and your payments are primarily covering the interest.
  • Tax Credits — Investment in things like energy-efficient homes can sometimes qualify you for specific tax credits.

3. Sellers Want to Save on Taxes Too

Buyers aren’t the only ones looking to save money on their taxes; sellers want to get in on those potential savings, as well. This is partly due to the fact that many sellers might be waiting to close a sale before purchasing their own home. This need to close in time to negotiate another purchase could lead sellers to be more flexible with the deals they offer you.

4. Save on Contractors

Winter can be an excellent time to do home renovations, especially in Texas. Winter tends to reach a slow down period during which many contractors may offer lower rates or simply be more available. This means you may have an easier time hiring plumbers, roofers, electricians, inspectors, and even moving companies.

The General Benefits of Buying Property

Thankfully, 2020 won’t last forever. Even once the year is over, buying and investing in real estate will still represent a great way to build your financial portfolio and future. There are countless benefits to buying and owning your own home, some of which include:

1. Earning a Consistent Income

Those interested in securing a source of stable passive income should consider purchasing property. Once an investor has a mortgage, the property can be rented out to create a consistent flow of income. This sort of stability is the foundation of an individual’s long-term financial health.

2. Owning Your Own Home

The rental-income opportunities of buying land lead to another benefit of purchasing a home: you won’t need to pay rent anymore. Sure, when you buy a home you will probably have some sort of mortgage, but the payments you make on that mortgage will go towards a home that you own rather than a temporary living space. This also means that you will have the freedom to make any changes to the home that you may want.

3. Building Your Equity

When you initially begin making payments on a mortgage, the majority of that money goes towards paying off the interest on the loan. However, once you begin paying off the principle of the loan, the actual borrowed amount, the equity in your home will begin to grow. After consistent payments, you can borrow against that equity for things like additional properties or college tuition.

 

Take advantage of the great opportunities available to homebuyers in 2020 with SRC Land.

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