Land Buying Guide

• Evaluate Land Parcels Objectively
• Secure Land Parcel Financing
• Find Land on halfvalue

Evaluate Land Parcels Objectively

Buying a parcel of land can be a serious investment and it’s always a good idea to consult a financial advisor or accountant prior to making any investment. Determine what your goals are for purchasing. The following are some of the other factors to consider when evaluating parcels of land.

Location, location, location

Many buyers prefer to be close to schools, shops, cinemas and easy highway access. So, obviously, land that’s close to amenities will command a premium.

Moreover, builders may charge you more to build on remote parcels of land. A septic tank, for example, can be quite expensive. Also consider access to electricity and telephone utilities.

Find out about homeowner’s fees. Do mandatory fees apply to your plot of land? If so, you’ll have to pay them. If you don’t, the homeowners’ association could put a lien on your property or even foreclose on it.

Building challenges and obstructions

For most people, the most critical question to answer before purchasing land is: can you build on it? If the land can’t support a foundation, or has no access to a sewage system, it may not have development potential.

Research the soil quality and topography. Damp, moist soil can add significantly to your building costs and building on hills or steep slopes can be much more expensive.

Finally, research road access. If the land isn’t accessible via a public road, you and your neighbors will have to maintain it. Consider the likelihood of floods, heavy rain, or snow that could limit road access in the future.

Zoning and environmental considerations.

Once you’ve determined that you can build on the land, research zoning. If the local zoning ordinances dictate that you can’t build on the land, or your land borders water and is subject to environmental regulations, both may hinder your building plans.

Also research the county’s long-range plans. Find out where the new businesses, parks, roads, or schools will be. For example, if the county is planning a six-lane highway next to your property, your resale value could decrease. Conversely, easy access to a new shopping center could improve your resale value.

Secure Land Parcel Financing

Once you find the land of your dreams, it’s likely that you’ll need to secure financing. While financing for land can be more difficult to locate than that for an existing home, there may be other options.

• Local, savings, and community banks: Loan officers at these locations know the area and possibly even your specific parcel of land. Note that you’ll have a better chance of securing a loan if there are other improved properties, or brand new properties, in the same area.
• Traditional seller loans: Typical seller loans generally require a 20% down payment, with the seller holding a note for the balance. The interest rate and terms of the loan, however, are negotiable. Other factors that impact the final terms of the loan include: the location, size, zoning, and intended use of the parcel.

Choose a loan package that adequately covers both the cost of the land and the cost and complexity of building and construction. Be sure to factor in the cost of liability and homeowner’s insurance when opting for a financing package.

Of course, real estate investments can be a complicated matter, so you should be sure to also consult a tax professional.

Find Land on halfvalue

Once you know what type of land you want, go to the Real Estate portal, click Land, and start searching for item listings on halfvalue.

• Categories: The Categories list on the left side of each page will help you narrow down your listings by item type. You'll find links for All Land Categories and more.
• Product Finder: Use the drop-down menus on the Land Finder to quickly narrow down item listings by state/province, acreage, or zoning.
• Keyword search: Search halfvalue listing titles for specific words. For example, if you want to find Florida land, type “Florida land” (without the quotation marks) into the Search box. Click "Search title and description" to expand your results. Visit halfvalue's Search Tips page for more tips on searching with keywords.

If you can't find exactly what you want, try shopping halfvalue Stores, tell the halfvalue Community what you want by creating a post on Want It Now, or save a search on My halfvalue and halfvalue will email you when a match becomes available.