4 Imperative Areas You Need To Know Before Buying Land or Lots
Still dreaming of owning a ranch or hobby farm? With many tracts of raw rural land available, be sure you protect yourself and your invest by knowing a few critical items before buying. If you want to build a house or put a mobile home on your raw land, be sure to check for utilities. Most people wrongly assume that utilities come with every piece of land. With that, be aware of these 4 imperative areas:
1. Water access may be unavailable.
Just because a property is on a county road does not mean you automatically receive access to Co-Op water on that tract. Each individual water districts (many local ones are small rural Co-Ops) determine how many meters it can support. That means, not all land tracts will have water access (including wells). Parts of Hopkins County are not conducive for a well. There are several reasons as to why a well is not possible. It could be no access to an aquifer, brackish water, or cost prohibitive. In other words, do not assume you can get a well. Raw land does not reveal everything that is underneath it including water access. đ§
2. Electricity is not guaranteed.
Just because you see a pole near the property, does not ensure you have electricity. There can be issues or complications with access or easements or it can be extremely expensive to extend a line to the tract youâre interested in purchasing. Many times at Janet Martin Realty, we work with our local water Co-Opâs and electric companies or assist clients in working with local utility companies before the final sale or purchase of land. Not all tracts will have access to electricity or water or may not have affordable access for the buyer. đĄ
3. Hidden elements like flood zones & soil types.
Another area to notice that can impact the use of your land includes flood zones or soil types. Property access can be affected by a flood zone or can negatively encroach potential building sites, depending on how much land is in the flood zone or where the flood area is located. Even if land looks dry when you see it, it might actually sit in the middle of a flood zone. So if you plan to build on a lot or land in a flood plain, youâll want to strategically plan your build site. Soil types are also important to know. For example, clay soil produces different results and challenges when building a home versus sandy loam soil. Or when growing hay, different grass selections will be needed depending on the soil type you are working with. Our office at Janet Martin Realty tries to provide important maps for our properties like the examples seen below. â ď¸
4. Maintaining essential tax incentives & additional features.
There are lots of other aspects of land, such as being aware of natural springs, the land’s contours and features for possible new ponds. Contour maps are used by our office to help buyers see the actual lay of the land with elevation changes as seen below. And knowing how to maintain current tax exemptions, agriculture values, or land enrolled in wildlife management can mean the difference between keeping those incentives or losing them. It might also require new owners to re-file those incentives with the county in order to keep its current status. All important things youâll want to know. đ
In the end, do your due diligence. If you are overwhelmed going it alone, seek out a real estate agent who expertly deals with land. They will be able to help you discover things like the ones mentioned above and more. Regardless of what you decide, make sure there is water access or electricity available before you fork over the money for any land. If youâre considering a well (not assuming a well is an option), check with a well-drilling company before closing on any sales. But above all, research the land before you buy it. Or you can always stick with the option of working with an experienced real estate agent who is familiar with land and ranch sales. đ
About the Contributor: Janet Martin Realty is a multi-million-dollar real estate company in Sulphur Springs that works with clients nationwide. In 2021, because of their clientsâ trust and repeat business, they sold over $62 million in property throughout North East Texas. However, their greatest success continues to be the strong bonds and relationships theyâve built within the community. It is because of their clients that this team of realtors have ranked as some of the top producers in Hopkins County and are one of the top-tiered independently-owned real estate companies in the local area. The office is located at 1325 South Broadway Street in Sulphur Springs across the street from Starbucks.