Common Mistakes to Avoid When Purchasing Land

If you’re looking for a long-term investment that will appreciate over the next several years or decades, you might be asking yourself if buying land is a good idea. Purchasing land in Texas can be a rewarding investment, but it requires careful consideration and due diligence.

Whether you’re buying land to build your dream home, for recreational purposes or agricultural activities, you should have a clear vision of how you intend to use it before finalizing the purchase. This will allow you to avoid common mistakes that could lead to financial and legal complications in the future.

Financing Your Purchase

The idea of owning a large parcel of Texas land can be appealing, but make sure you can afford your new piece of property in the long run before making the purchase.

Unless you plan to pay for your purchase with cash, there are several things to think about when it comes to financing. You’ll likely need to be prepared to make a large downpayment, as lenders generally have more rigid requirements when it comes to approving land loans.

In addition to the downpayment and loan payments, consider other costs associated with land ownership, such as property taxes, insurance and potential development expenses. It’s a good idea to research and estimate your total costs and financing options to ensure you can comfortably afford your land for years to come.

Researching Zoning Restrictions

Make sure your land use plans align with any rules or regulations to which you might be subject after a land purchase. Do your plans include building a guesthouse for family or an outdoor pool to cool off during the hot and humid summer months? Do you intend to use your land for commercial purposes? The last thing you want to do is purchase land only to discover you cannot build a second dwelling aside from your home or run a business.

To avoid those issues, be sure to carefully research any zoning restrictions or community rules that may come with the land you’re considering purchasing.

If you have complex plans or uncertainties regarding zoning regulations, consider consulting with a zoning attorney who can provide guidance on how to navigate these restrictions.

Establishing Legal Boundaries

Before you purchase the land of your choice, be sure to establish its legal boundaries. This step is important for a few significant reasons. You don’t want to buy land with an old shed you want removed only to find out someone already owns it. This means you’ll likely need to engage in a legal (and frequently costly) legal dispute.

Additionally, knowing the legal boundaries is essential for complying with local zoning regulations and land use restrictions. Understanding how the property is zoned and its specific use requirements allows you to make informed decisions about potential developments or modifications you have in mind.

To establish your land’s legal boundaries, it’s a good idea to hire a licensed surveyor who can conduct a thorough survey of the property, identify its exact boundaries and give you an official report of the findings.

Checking for Natural Hazards

Natural hazards are a common occurrence in Texas and can prevent you from building on your land or engaging in other activities like agriculture or gardening.

Some of the most common natural hazards to look out for when purchasing land include:

• Flood zones: Texas is prone to flooding, especially during heavy rain events or hurricanes. Ascertaining whether the land is in a flood zone, or the level of flood risk, is crucial for understanding flood insurance costs and potential restrictions on building or development.

• Wildfires: Certain regions in Texas, such as West Texas and the Panhandle, are susceptible to wildfires, particularly during dry and hot weather conditions. Understanding the wildfire risk in the area can help you better estimate insurance costs and take appropriate precautions for property protection.

• Unstable soil: Assessing the stability of the soil is crucial, especially if you plan to construct buildings or engage in agriculture. Soil stability issues, such as soil erosion or landslides, can affect the safety and longevity of structures.

• Drought conditions: Texas frequently experiences drought conditions, which can impact water availability and agricultural activities. Knowing the historical drought patterns can help you plan for water usage and conservation.

To check for natural hazards, you can consult various sources, such as the Federal Emergency Management Agency (FEMA) flood maps, local authorities and geological surveys. Hiring a professional geologist, environmental consultant or surveyor can also provide valuable insights into potential hazards on the property.

Interested in Purchasing Land in Texas?

At Ranger Ridge, you’ll find the beauty and tranquility that comes with living close to nature. Our parcels are already vetted and ready for development, and our team can answer all the questions you have about any of the previously listed considerations.

Whether you’re looking for a weekend gateway or a permanent residence, purchasing land in our master-planned community enables you to build the home of your dreams and embrace the outdoor lifestyle.

Come see what we’re about by booking a tour today. Call (817) 618-6773.