With natural beauty and welcoming communities at the heart of what makes Texas Texas, it’s no surprise that nearly four million people moved to the state between 2010 and 2018. Many people moving into the state may hang their hat in an apartment while others may choose to rent homes or condos, but overwhelmingly, many individuals are finally realizing their dream of owning land to build their legacy is well within their grasp.
To try to make that hunt a little easier, the real estate team at SRC Land has gathered information covering the basics of what you should know before looking for the place your home will ultimately rest on. Our dedicated team members work tirelessly to help the people looking to settle in the city of Harlingen find the land that’s right for them.
Key Takeaways
- Consider your location, including things like nearby amenities, the atmosphere, and the local government.
- Always keep your budget in mind, and choose a property with the right slope for your development project.
- Do your due diligence to confirm things like the lot’s exact boundaries, access to public and private roads, deed restrictions, and more.
- You should confirm with your builder before choosing property, and consider working with a land developer to find great deals and attractive land.
1. Really Think About Your Desired Location
This is the area that most of us think about first when considering where our dream home will be located. Take the frustration out of finding a location right for you by doing the following:
- Check out the neighborhood to make sure you will feel comfortable there.
- Make sure the area is right for your lifestyle.
- Visualize your home on the lot, and check if it feels right.
- Listen to the traffic noise to make sure it’s not too loud.
- Look at the area at different times of the day to get a sense of the atmosphere.
- Bring friends or family to help you decide.
- Consider local property taxes, insurance costs, and other impacts on cost of living.
- Look into local laws and restrictions for developing properties, including zoning laws.
- And, most importantly, consider and compare at least a few different options. Don’t settle for the first location right away.
Choosing the right piece of vacant land for your home construction project can be a real challenge, but a land developer like those on the team at SRC Land can help you find the right property for your future development plans.
2. Think About Purchase Prices and Your Budget
When it comes to buying land and choosing the right property for your home construction project, one of the most important factors will be your budget. Land ownership typically involves some form of financing, whether that means a traditional loan or owner financing, and the types and amount of financing you receive will be the final limiter on your land transaction.
If you’re looking for a way to access land financing at affordable rates without having to undergo a credit check, owner financing is the way to go. With owner-financed land loans, buyers can access their dream property while avoiding the hassle of traditional lender approval.
No matter what source of financing you choose, you will need to carefully consider your maximum monthly payment and down payment amounts. Don’t forget to account for closing costs, taxes, maintenance, and the cost of your construction project.
3. Consider What Type of Lot is Right for You
There are a few different ways that lots are categorized: first, you can consider the difference between residential lots for housing, commercial lots for businesses, and agricultural lots for farming. Next, you can compare undeveloped lots without utilities or road access to developed lots ready for construction. For most land buyers looking to build a home, you will want to prioritize developed residential land.
The lot that you build on serves as the canvas for your masterpiece, and every slope of the land will affect what your home will look like. Below, you can read about the different sorts of lots you can consider for your optimal build:
- Flat — This is the default layout we think of when building homes. As neat as a perfectly flat lot may look, it may not be the ideal lot for your needs. Although uncommon in Texas, homes built on flat lots with basements are susceptible to flooding, especially after a particularly rainy season.
- View — A view lot is exactly what it sounds like: a lot with a view. The scenic views surrounding the plots of land allow you to highlight their natural beauty within the design of your home.
- Corner — Corner lots can be perfect for home design. Corner lots make side and back entries possible, but this can make their cost higher than other lots.
- Narrow — If you’re looking to build your home in a more urban area, you will probably be looking for a narrow lot. Narrow lots are becoming more and more popular for home builds.
- Sloped — Lots that are sloped to one side or the other can open up all sorts of interesting design options.
The land’s topography can significantly influence the land’s potential for development. Before choosing a property, prospective buyers should check with their builder about what type of lot may meet their needs.
4. Do Your Due Diligence
Now that you know about the different types of lots, it’s time to learn about the practical concerns that come with building a home. Before buying land, you will need to conduct a title search and land survey to confirm the details. Failing to take these steps for due diligence could lead to high costs down the line. Below are more of the technical aspects you will need to consider when choosing a lot for your home:
- Property Lines — You will need to confirm the property boundaries through a land survey.
- Deed Restrictions — Through a title search, you can check for legal issues that could affect the property, such as easements or complications with the owner’s right to sell the land.
- Accessibility — Is there legal access to the property? Is it difficult to access the main road? Verifying legal access is essential, and poor access can also become a serious issue if access is limited for emergency personnel.
- Amenities — Are there shops, schools, and childcare services in the area that will fit you and your family’s needs?
- Orientation — North-facing lots are usually a good choice, but don’t forget to take lot orientation into account.
- Privacy — Check that there is no overlooking issue-neighboring properties with windows that invade your privacy, for instance-that would make you uncomfortable living on the lot.
- Utility Connections — To live on a lot, you will need to make sure it is connected to all the necessary utilities like water, sewage or septic system, and access to electric, telephone, and internet services. While raw land without these hookups may be cheaper, it comes with much higher challenges.
Each of these steps can introduce complications and challenges. If you run into any issues, consider consulting with a real estate lawyer or experienced land broker like those on the team at SRC Land.
5. Ask Your Builder Before Purchasing Land
Your builder has a lot of experience in constructing beautiful homes on all sorts of lots, and if you are planning to build your own home, you should consider talking to him or her before choosing your lot.
A builder can help explain all of the information you need to know and how it will influence her or his work. Your builder can also adjust your designs to fit your lot or help you find the perfect lot that meets all of your design needs.
6. Work With a Texas Land Developer for Your Land Purchase
If you want to choose a property that is ready for your building plans, you should work with an experienced land developer like SRC Land. A land developer develops a portfolio of attractive, affordable properties for buyers to choose from for their projects, with all of the groundwork already in place for your development. From zoning and access to utilities and land surveys, you can count on SRC Land to handle the background work for your land purchase and home construction project.
You don’t have to hire a real estate agent to find the right land for sale in Texas. By working with SRC Land, you can choose from a variety of Texas rural land for sale to meet your needs. With land listings throughout the Rio Grande Valley, you can count on our team of land experts to guide you through the entire process of buying a new property.
