Factors to Consider Before Buying Land

Who among us hasn't thought about buying land at one time or another?

I suspect many of us fantasize about buying up acreage along a beach, in the desert or atop a mountain if, for no other reason, than to own more real estate than the space of our own yards, even without plans to develop it. But most people who buy land do so because they want to build a house on it.

I bought land in San Felipe, Baja California, many moons ago. After it closed, I decided the land wasn't big enough, so I bought the lot next door before starting construction. Buying large enough parcels is paramount.

However, so is hiring contractors. Because I wasn't onsite 24/7 to supervise the construction, the contractors kept building my spiral staircase -- which was supposed to run from the first floor to the second-floor master suite. Instead, I got a third-story sun deck because the contracting crew didn't know when to stop. So, the house ended up looking like a castle.

Finding reliable contractors and buying the right-size parcel are only part of the story, though. Your real success will depend on doing your homework before recording the deed. You'll want to consider easements, water rights and . . . read more about buying land.

More Articles by Elizabeth Weintraub, click below:

• Advantages to Home Downsizing
  
• How Reverse Mortgages Work
  
• Buying Into Active Adult Retirement Communities

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