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Buying a residential plot in a developed neighborhood

2,037 Views | 9 Replies | Last: 3 yr ago by one MEEN Ag
Thermalaggie
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I am interested in a plot in an area that I like - neighborhood is old but, fine with easy access to a lot of things. Price seems to be reasonable for the area.

What other things should I look for? What should I know before buying it?

Any and all suggestions are appreciated.
mazag08
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AG
Without having more information, I'm going to assume that it's already developed for utilities, communications, and sanitary sewer since its in an existing neighborhood.

Are you buying this to build? If so, are you aware of what the setbacks are? Are there deed restrictions? HOA? Architectural review board? Is it a neighborhood with underground storm sewer or does it have ditches? Is it in a flood plain? How is the property graded? I'm assuming flat, but could be built up in the middle for drainage purposes.

Do you have access to an existing survey? If so, check for easements that might hinder construction.

You might also be able to find a subdivision plat map on the local county clerks website. Along with this, you should definitely research title of the land through public records and make sure there are no liens or judgements on the property.
Rascal
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AG
Q: per any city's setback rules, if for example the city lists a property at 30 feet for the front, that is clear cut that your front door (or any part of the house) of your house cannot be closer than 30 feet from the city sidewalk or street.

But, when it lists 6 feet for the side/rear, is that saying you have to be 6 feet apart on both sides of your house from your neighbors property line or can you average it to 3 feet on each side, totaling 6 feet?

Anyone know for sure?
mazag08
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AG
Rascal said:

Q: per any city's setback rules, if for example the city lists a property at 30 feet for the front, that is clear cut that your front door (or any part of the house) of your house cannot be closer than 30 feet from the city sidewalk or street.

But, when it lists 6 feet for the side/rear, is that saying you have to be 6 feet apart on both sides of your house from your neighbors property line or can you average it to 3 feet on each side, totaling 6 feet?

Anyone know for sure?
Usually means 6 feet on each side.
Rascal
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AG
mazag08 said:

Rascal said:

Q: per any city's setback rules, if for example the city lists a property at 30 feet for the front, that is clear cut that your front door (or any part of the house) of your house cannot be closer than 30 feet from the city sidewalk or street.

But, when it lists 6 feet for the side/rear, is that saying you have to be 6 feet apart on both sides of your house from your neighbors property line or can you average it to 3 feet on each side, totaling 6 feet?

Anyone know for sure?
Usually means 6 feet on each side.
thx!
normaleagle05
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AG
Is this a lot in a platted subdivision that has never been built on? One that has had the original/previous house demolished?

Or is this an out tract adjacent to/surrounded by a platted and developed subdivision?

This could make a huge difference in cost to build.
Thermalaggie
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mazag08 said:

Without having more information, I'm going to assume that it's already developed for utilities, communications, and sanitary sewer since its in an existing neighborhood.

Are you buying this to build? If so, are you aware of what the setbacks are? Are there deed restrictions? HOA? Architectural review board? Is it a neighborhood with underground storm sewer or does it have ditches? Is it in a flood plain? How is the property graded? I'm assuming flat, but could be built up in the middle for drainage purposes.

Do you have access to an existing survey? If so, check for easements that might hinder construction.

You might also be able to find a subdivision plat map on the local county clerks website. Along with this, you should definitely research title of the land through public records and make sure there are no liens or judgements on the property.



These are some great thoughts from everyone. The plot is in an area that is already developed. It is one of the few plots that is yet to be built on. I have reviewed the plot/plat with builder and got back positive reviews. Not sure how to estimate quality of the plot but, will ask. I most probably will not build immediately..may be in a few years. At this point I guess I am fairly comfortable about buying it but, I didn't not know what I don't know and this thread has allowed me to think about few more things.

Thanks for the comments!
Rexter
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For the setback, that is the minimum distance to the closest point of construction. You will also hear it called the build line. Go stand on the lot and look in each direction. You will see the setback line in relation to where the front-most part of each house is located.

The side setback is to the property line. Generally a 6' setback will get 12' between the houses.
NoahAg
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Is it in city or unincorporated area?
In a utility district (MUD or other)?
HOA guidelines? Deed restrictions?
Access to water, drainage, electric, telecom, etc?
Whoop Delecto
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AG
one MEEN Ag
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AG
When you're looking at a new build in a old neighborhood, ask yourself, why did this plot never sell?

If you can get past that hurdle, then ask-will the price of a new build ever be fully appreciated when you go to sell? Do you have to cut corners to stay within the market rates of the neighborhood? If you build the most expensive home in the neighborhood, will it sell at a price you like? Can you build to a newer style? Are you okay with having to build a home that immediately looks 20 years old? Are you okay with having a new build design stick out?

Is the neighborhood on the upswing or decline? What's driving growth in the area?

I've looked at lots in older neighborhoods but I couldn't ever pull the trigger. If it wasn't an obviously hot market area, there was always something obviously wrong about the area that kept that lot from moving after so many years.

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