What You Need To Know About Buying Vacant Land in Fort Myers

Posted by Zachary Staruch on Wednesday, April 19, 2023 at 9:36:18 AM By Zachary Staruch / April 19, 2023 Comment

If you are looking to buy a vacant lot or piece of land there are a lot of complex decisions to consider. Real Estate purchases take a lot of careful thought. If you want to buy land a build on it, pay attention to the important things you need to know before you jump in. What You Need To Know About Buying Vacant Land in Fort Myers

What You Need To Know About Buying Vacant Land

Location

Location is everything when it comes to real estate, especially vacant land. It doesn't matter why you are purchasing the property, location is still going to be one of the most important things. Before you start looking for the land you want to purchase, you want to develop an idea of where you want to purchase and what you plan to do with the land.

The Cost

Any real estate purchase is a big investment. The more time you prepare financially, the more you will have saved towards your purchase. When you buy a vacant lot, there are a lot of purchases to consider beyond just the land itself. You will need to get title insurance to protect your investment and factor in all other potential legal or purchase costs.

Land Survey

Getting your land surveyed is one of the costs that you may want to consider. You will need to hire a professional land surveyor to chart out the boundaries of this property. Even if a survey's been done, it could be old and outdated. Getting a new survey will clearly define your property line, quite important when you delve into legal matters like easements. Surveys can serve purposes beyond plotting out property boundaries.

Utilities

When you buy a vacant lot, it may not be set up for any utilities. You will need to consider the costs to set up the ability to have electricity or water for your home. This cost can be huge in comparison to what your monthly bill will be. In some cases, you may have to have a well drilled and septic system installed if these things aren't already in place. No matter what kind of property you are looking to buy, you need to ask exactly what utilities are already in place or not before you finalize your purchase.

Zoning

The local zoning laws will determine what you can do with the land. Zoning laws regulate how a property can and can't be used, so you need to know whether or not you would be allowed to build your house or business before trying to start any construction. Zoning typically falls into two categories, residential and commercial.

Road Access

In some cases, road access can be a difficulty when you buy a vacant lot. It is possible that the property may be away from s major road and there is only private access. If your land isn't accessible by public roadways then you are unlikely to be able to get public sewage or water.

Easements

An easement will allow for another to have specific limited use or enjoyment of your property. This can be fine for many but a challenge if you are dealing with difficulty from a neighbor and you need to be able to use their property for access to yours.

Permits

You will be required to have a building permit for just about anything you build on your property. This means you will have to obtain all of the proper permits before starting any construction on the land. This can be challenging, but it helps you protect the land you have purchased and adhere to proper building codes.