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Lots… what to watch for or look for… - Posted by Joe z
Posted by Joe z on May 28, 2004 at 21:38:26:
I will use part of the equity on my house to buy lots, Ill start to build single family homes in about 3 years,they run between 8k and 12k,sqf averages 10000 to 12000.
My quastion is what should look(watch) for before purchase a lot,Do they have to be near a lake or golf court?
I need some tips and good advice
Thanks
Re: Lots… what to watch for or look for… - Posted by michaela-ATL
Posted by michaela-ATL on May 29, 2004 at 06:59:59:
What is the neighborhood like? (If the houses sell for 50-60k, builders will probably not buy those lots.) Is there new construction in the area? - If so, how much are those homes? What’s the zoning? Single family homnes, duplex, multi-family, commercial? Zoning will also determine the size of the lot and whether you can subdivide. Are there any easements on file? Any moving creek or other impairments, that would make it hard to build? Is the lot buildable at all? Sewer in place (in the case of a lot, where previously a house stood, that got torn down) or will have to still be built? Are there any sewer moratoriums in the area? Does it ahve to have a septic tank?
Basically, when I look for lots, I work backwards: What can a house, built on the lot, be sold for? How much would a builder pay for the lot? Is the lot buildable? etc.
Michaela