There are many significant considerations to be made when purchasing land to build a home. Typically when you make an offer to purchase a piece of land, you have 30 to 60 days to evaluate the property thoroughly prior to purchase. Ideally you will know what to look for prior to making the offer, but this is not necessarily the case.
One major consideration is the price that you pay for the property, and to feel that the agreed upon price is a fair price. You don’t want to pay too much for the property, but the seller does not want to sell it for to little. If you have taken the time to look for property and have had the opportunity to compare it to others, you will know when you have property at a fair price.
Another consideration may be any restrictions placed upon the use of the land. This would often come in the form of covenants. These are typically rules and regulations placed on the property by the developer. This might include restrictions on the size of home, the height, the color, the architectural style or the type of exterior finishes. This is important because you would not want to purchase the land only to find out that the type of home that you want to build does not meet the covenants.
The topography and soil conditions of the site are important. Poor soils mean poor drainage and additional development costs. Poor soils can also affect the concrete footing size and the cost of construction. You may wish to build a single story rambler home, but if the lot is sloping it may be difficult, or add substantially to the cost of construction
Water and sewer availability are critical to building a home on the property. If the site will require an on-site sewer system, then a system will need to be designed and approved by the local municipality. If soils are poor or very sensitive it may not be possible to design a septic system to meet the needs of your new home. If a well is required for domestic water, then it is important to have some idea whether water is available, what well depths are in the area, and what it might cost. Without water a piece of land would not be buildable.
If the property does not directly adjoin a public road, then it is important to verify that there is legal access. You must have some form of legal access to get to the property. This could be by easement or right of way.
Sometimes getting power to the building site can be difficult and costly. It is important to determine that power and phone will be available and verify the cost. Extend the power several hundred feet to the proposed building site can be expensive and prohibitive.
Selecting the right piece in the right location is most important to you. For this reason only you can decide how far you are will to go to develop the site for your dream home.