A lot is a property ready to build a house. You usually have all the utilities (electricity, water, sewer and gas) on site. The land, often a larger property, has no connections for utilities, which means you have to dig a well for water, install a septic sewer system, connect to the grid, and possibly pay for roads.
Find your lot. The fastest way to see what’s on the market is to go online. If you can’t find anything, find a good real estate agent to help you. The agent likely has a list of lots for sale. Due to the real estate recession, some homeowners are eager to sell. Make an offer at a ridiculous price and don’t let your agent dissuade you. Agents are required to submit all offers to owners.
About a month later, make another offer at a higher price you can afford. Then it might be open to your new offer. You can also drive around the neighborhood you like and look for “Sold By Owner” signs.
Flat land. If possible, buy a lot with flat terrain. Any type of slope means more concrete and excavation. The more it leans, the more it costs. If the slope is steep, consider a basement.
Survey. If the ground slopes more than 4 feet from front to back, have the salesperson conduct a topographical survey. Get a copy and look at your contour lines.
and location of trees. You can then determine the best position for your home.
Corner stakes. You have the right to know exactly where the property lines are. As a buyer, you should receive a copy of the survey. If not, make the seller pay for a copy.
Soil tests. Make sure there is no damp soil or fill on the property. If this is a bit questionable, have an engineer test the soil. You don’t need a solid, undisturbed floor for your home.
Utilities. Check the location of utilities on the property, such as water (city hall), sewer (sewer agency), and power (power company). While you’re at it, get the cost of connection fees. These costs are usually just your right to connect utilities.
You still need to have a trench digger so the plumber can connect the sewer and water lines to the house and install conduit so the power company can snake a line through it to the meter box.
Sewer system. Where will the water in the gutters go? You cannot drain the water on your neighbor’s property. Check for a ditch, culvert, or storm drain on the property line, usually in front. If not, you may need to create your own underground drainage system. Check with your building department.
Before you buy a lot, it pays to know what you are getting into to avoid unexpected, sometimes hidden costs of a lot.