If you’re in the market to buy property, chances are you’ve likely put careful thought into your investment strategy. Those looking to test the waters will find the current market offers great rates and enough inventory to find exactly what you’re looking for.
As you plan your next step and consider several of the factors needed to make a smart decision, something to determine is the property size that will meet your needs. While you may think that a larger property means a better investment, that may not always be the case.
As an investor, it’s best to consider all property types. But remember to keep in mind your personal circumstances, including budget, and how to weigh these against your planning.
Things to Consider When Buying a Large Lot
If you’re looking to set down roots, Harlingen is a great option. Safe, family-friendly, affordable, and within proximity to great amenities, this thriving Texas community offers great opportunities to secure a tract of land so you can turn your dreams into reality.
Once you find your dream property, but before you move forward with making a big financial decision, determine if the land size you’re looking into meets your expectations. A larger property size may require land clearance and preparation that could eat away at your savings or your budget.
In order to properly consider a larger property, prospective owners will have to rely on a topographic map to identify the ideal flat areas to build a home or other structures. If possible, you’ll want to find spaces free of rocks and vegetation, but the larger the property, the greater the investment in time and labor to do so.
Clearing and grading land can also pose a significant expense, and for buyers working with a budget, this cost could impact the quality of the home you build. That is, buyers of larger lots who must invest in clearing may have to offset and/or sacrifice costs elsewhere.
Benefits of a Larger Property
An advantage of a larger property is the ability to build a more sizable home, and in turn, offer more space for use for you and your family – or for future renters. From an investor’s perspective, this is an advantage that can translate to more income down the road.
In this case, identifying you and your family’s long-term goals will help you determine whether it makes the most sense to invest in a larger property. For example, a larger property might make most sense to a family with young children, but may not be the ideal choice for a family whose children will soon be off to college.
Larger lots may also mean greater access to things that appeal to any property owner, including:
- Privacy A larger lot means more privacy and more space between neighbors. This is one of the most important reasons buyers invest in larger lots.
- Landscaping An advantage of a larger lot is having the ability to landscape it as you wish. Landscaping offers the opportunity to enhance your home’s curb appeal, while making it a more relaxing and beautiful place to live.
- Expansion Opportunities You’ll have the chance to add more living space to your future home when you have enough available land. Whether it be a deck, a patio, or an in-ground pool, larger lots offer the potential to build out and design a home that appeals to you.
- Outdoor Activities Families with pets or children will benefit from a larger lot and more space to play and run around.
- Income More land equals more possibility for income. You can create a vegetable garden or other recreational businesses to generate additional income.
- Easy Sell A larger lot can be more desirable to potential buyers, and is likely to sell more quickly if much of the work needed has already been put in.
If you’re looking for land for sale in Harlingen, and are interested in seeing a variety of tracts of land available for purchase, SRC Land can help make your dream of land ownership a reality.