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Land Purchases & Sales

Updated: Oct 22

I was asked today some good questions about land that I felt deserved an article.

General Concepts:

Risk considerations

Where have land prices gone and where are they headed?

Does Adam help people sell & acquire land? Yes

Where can I find out more about a land or new construction purchase?

Unique Elements of Land Purchases:

Check the Utilities Available

It's important to know the utility options available in an area as those can increase or decrease the costs involved in a land purchase as long as you plan to buy land where you plan to need a well, septic tank, electricity, or otherwise.

Of course, there are workarounds in some cases, like propane coming via truck or solar panels. That said, often propane will be pricey to operate. Solar panels make sense much more in some scenarios than others and don't tend to make as much sense for those who are not planning on being somewhere for less than 12 years in SE VA where sunny days aren't as prevalent as places like Southern California, where electricity is cheap, and where government tax incentives aren't as strong as places like California. That said, it really depends on your individual circumstances, so here's an article on calculation from CNET.

Check the State, Local, & Zoning Regulations

Check the Association Regulations

Loan Considerations:

Disclosure: #'s & my Business

Land Only vs Construction Loans

Down payment requirements are typically higher

Interest rates are typically higher

Shorter Amortization Timeframes

Less Programs to Reduce Home Costs, but Some Are Still Available

Related for Buyers:

Mortgage Recommendations

What do Buyers Need to Purchase?

House Buyer Guide

What Adam Offers Buyers

Related for Sellers:

House Seller Guide

The Impact of Season on Real Estate Photography

Area Photos

What Adam Offers Sellers

Related for Buyers & Sellers:

Modular, Manufactured, & Mobile Homes

Adam's Aerials (for buyers & sellers)

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