What to expect when purchasing a home on land

There are many great things about the growth of Denver – we have more companies looking to set up shop here, more retail and food groups looking to open store and restaurants here, great music shows and the ever expanding housing market. But the one thing that many of my real estate clients are dealing with is not finding the space they want when purchasing a home. More and more people are expanding their searches outside of city limits because as much as they want neighbors only a few feet away, they really are looking for some space and land to call their own where they can spread out and enjoy some land and of course, some great views. Buyers are finding homes with a bit of land with them or are looking to buy vacant land and to build their own dream house. There are so many great builders in Colorado right now that if you decide that might be something you want to do, you will have many choices of layouts and designs from multiple sources.

 

But before you decide on buying some land, there are a few things to take into consideration:

 

·      Buying a vacant lot – first and foremost, you need to make sure that you can build a house on the land you are buying. Rules and regulations about the zoning and everything can be found through the city but also, use a realtor who has knowledge of purchasing vacant lots and knows where to look and who to ask before you get too far in. Make sure you know the area you want to purchase in well before you decide to build.

·      Septic tank vs sewer system – generally speaking, most cities and their surrounding areas will have sewer systems that are maintained by the local public works department but if outside this area, your home might use a septic tank to handle wastewater. Public sewer systems have a monthly fee but offer the convenience of the homeowner not having to maintain any wastewater with their home. Septic tanks have to be maintained by the homeowner, getting them emptied and cleaned on a regular basis but with the right maintenance, it generally has fewer costs.

·      Pubic water vs well water – along the same lines as having a septic tank versus having a sewer system, public water versus well water has the same characteristics. Public water is maintained by municipalities, shared among communities and paid for either via taxes or a monthly bill. Well water s privately owned and maintained by the homeowner and if anything happens, homeowner’s insurance will not cover the costs of repairs. Usually it is made up of a well, pump, pressure switch, piping and storage tank.

·      Propane gas vs natural gas – the main difference between these two fossil fueled gases for homeowners is that propane is compressed into a liquid form and sold in portable canisters or delivered by truck while natural gas is delivered to the home via a pipeline. Natural gas is the cheaper option in the long run but propane has its positives as well.

 

These are just a few things to consider when you are looking to purchase a home on land or to buy an empty lot to build a home on. If you are considering either, please give me a call today and let’s set up a time to meet and discuss. This is one of my specialties and I have helped many buyers with their wants and needs when it comes to purchasing a home on land.