Where do I want to be? Make sure to also consider where would work. It would be ideal for many people to be 20 minutes to downtown Burlington on 2 acres but that comes with a major cost. Make sure to keep cost of the land and the cost of home in mind when deciding what locations would work.
Is the commute to work realistic? Make sure the drive you will have is not too much. There is always the possibility of finding work closer but make sure the current commute is manageable.
Is access year round going to be a problem? Class 3 and Class 4 roads can be issues with your car as well as your bank. Make sure access and maintenance are not going to be issues in the future.
Is the school system acceptable? The taxes are going to go up year after year unless something miraculous happens so make sure the current amount is not unacceptable.
What is the price? Price is a key component. Consider water/sewer/power as well. Some lots may be more expensive but include utilities so take those into consideration when figuring the final cost of a lot.
If not town water or existing how much will it cost? Artesian wells can cost anywhere from $6,000 up to $12,000 depending on depth/casing/pump size etc.… If there is an existing well make sure to account for testing the water as well as whether or not you will need a new pressure tank and/or pump.
If not town sewer or existing how much will it cost? Make sure if the lot has an existing septic you can re-use it with the new house. You also should make sure the number of bedrooms that were on the property before will meet your needs. Making sure the septic is not an issue is something you really want to make sure is addressed early.
How far is it to power and how much will it cost? If there is existing service will it need to be upgraded? Depending on distance this can be a cost consideration.
Are there signs of ledge? If you see ledge or signs of ledge be cautious because blasting may be necessary.
Covenants affecting the type of home you are looking at? Example: Some lots don’t allow mobile homes. In this case you would not be able to construct a singlewide or doublewide home on that property.
Will the overall cost of land & home appraise? Only an appraiser can give you that information but is it realistic but make sure that it is within reason in order not to waste you time.
Are you being realistic? Being realistic is very important as well when looking for land. There are very likely aren’t any 20 acre lots with a pond and hunting land for 60k.
Did you find a great deal when everyone else missed it? If it’s too cheap to be true it probably is. Sometimes you can get lucky on land but if a property is very inexpensive and has been on the market for a long time there is probably an issue with it.
