Many people realize that buying a vacant lot comes with a lot of hidden issues until it’s too late. Ignoring these issues can cause you to incur additional costs that could scuttle your dreams of building a dream house.
Sadly, some potential homeowners don’t realize the value of hiring a land surveyor in Utah County when looking to buy a vacant lot. Buying a lot affords you the freedom to build a custom home from scratch. It gives you the freedom to customize every square inch of the house and fit it to your specific needs.
Some people rush through the process of selecting a building lot, not knowing that it holds the key to a pleasant homeowning experience. To avoid running into severe headwinds down the line considers a few crucial pointers.
Is your choice of lot buildable?
There are more factors to consider when buying a piece of land other than topography. Rushing through this phase can lead you to settle on a problematic lot. In most cases, these problems aren’t immediately noticeable, only to come to the fore when it’s already too late to back out.
Soil type, drainage, and available vegetation affect your site preparation costs. Easements, boundaries, and setback lines affect your ability to utilize the lot to your like. Ignoring any of these factors can lead you to incur huge losses or cause you to abandon the project altogether.
An expert can help you address most of these issues, especially those that relate to boundaries and setback lines right from the start. The last thing you want is to put up your forever home only to learn that you’ve encroached on the neighboring lot. Or that your house is a few inches past the setback lines when the local authorities come calling.
Is there a lien or unrecorded debt?
The last thing you want is to commit to buying a vacant lot only to find out later than there’s a lien placed on it. Sometimes there are unpaid bills on the land that won’t quite reach lien status that come out of the woodwork when you need to develop a piece of land. That would saddle you with unnecessary costs and cause unwarranted delays.
In some instances, you can run into an issue with open or expired permits. Maybe a permit had been issued in the past, but no work was carried out, and so it expired. If there was a structure built there before, you might run into legacy permit issues. Carrying out a municipal lien search is the only way to discover such problematic issues on time.
In some cases, unpaid bills and code violations accumulate fines and penalties for as long as they are outstanding. As such, they can add up to a huge chunk of money. Failing to uncover such issues when buying a piece of land transfers all the liabilities to you.
Before buying a vacant lot, you need to be sure that it ticks all the right boxes. Some lots have a horde of hidden issues that could interfere with your ability to develop them. You want to be sure that you’re not settling for a problematic loan as that would saddle you with lots of unwanted and necessary costs that could derail your building plan and budget.