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What to consider when buying land?

1,885 Views | 9 Replies | Last: 7 yr ago by 88jrt06
Pro Ag
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AG
I have my own thoughts on buying some land and would appreciate thoughts from those that have done this before. What questions should I ask myself? What questions to ask about the land?

General starting thoughts/requirements:
Looking for something that would be 90 minutes max from a metro area (currently in DFW)

Would like at least 25 acres with trees, would prefer more but part of that depends on the price

Price is flexible, would consider waiting 1-2 years to put in a larger down payment

Looking for minimum maintenance until I can move to this land

Does not require a dwelling now, but would eventually build something small and then a larger home when I retire


p_bubel
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How difficult will it be to access public utilities would be my first concern, at least for power and water.
Sewer isn't really a big deal.
GatorAg03
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AG
Financing may be easier if it has an existing structure. In Texas AG or wildlife exemption is a huge consideration (it also can be a pain to have to let someone run cattle on your place to keep it).

Definitely make sure it has deeded accessibility, make sure utilities are available/affordable. Be very selective of what type of property you really want and why and be patient until the right one shows up. Don't rush it.

I would also factor in ability to resell if you don't plan on keeping it until the day you die, but know that land takes much longer to sell than a home if you are looking at it as an investment.

Consider the neighbors or lack thereof, both for if you plan on spending all your time or very little out there. As one neighbor might be good for one circumstance and terrible for another.

texrover91
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AG
Good advice on this thread already but I would add check for any restrictions.

Also if considering resale and 90 minutes from DFW you might look into how easily it could be subdivided. For instance some counties won't allow ag exemption on less than 10 acres. But I wouldn't get too concerned about subdividing, and maintain focus on what works best for you and your use.

Good luck - if you want any further recommendations on specific areas in NTX and brokers ping me at jackblack 01 at iCloud dot com

Good luck!

ontheedge
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Determine what is going on with oil and gas in the area. In many cases these days, minerals don't convey. O&G traffic can make a nice tract not enjoyable as well.
Leeman
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Do not forget the yearly property taxes you will have to pay even before you finally build on the property. It can add up to a significant amount of money.
Dr. Venkman
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AG
https://www.amazon.com/Buying-Rural-Texas-Charles-Gilliland/dp/1603447954

This book was recommended to me on the Outdoors board a while back. Got it from my local library. Good, short read that introduces you to land buying and what to consider.
AustinCountyAg
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flooding? is it black land?
CapitalFarmCredit
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Sponsor
Give us a call and we can go over what you will need in order to realize this dream. Our lenders also have contacts with many local and regional land brokers. See https://www.capitalfarmcredit.com/locations-main to find the most convenient location for you.
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Agmechanic
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AG
Restrictions, oil production, pipelines, electric transmission lines, topography, drainage, proximity to public utilities, surface water (tanks/streams), condition of existing improvements (roads/fences), condition of neighboring properties, dig and find out the neighboring property owners, floodplain/way, is it overgrown, overgrazed?, invasive plants (cactus,mesquite,etc.), why are the owners selling?
88jrt06
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AG
Neighbors.

Use a drone.
Crucial.
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