There are several things you are going to want to pay particular attention to.
First – Is water readily available? With the water table being so low, you may be tasked with having water trucked in and delivered for your home into a tank that is on the property.
Search all Santa Clarita Valley Land for Sale – including Acton, Agua Dulce, Saugus, Santa Clarita, Valencia, Newhall, Castaic, Canyon Country and Stevenson Ranch.
This fee is due without access to a well or city water. Typically the vessels are approximately 7500 gallons and will serve you for a month. The costs varies, but I’ve heard that $350.00 is a typical fee.
We have the connections for you when you are ready!
Second – Is electricity available? You may need to pay to have the power piped in.
Third – Natural Gas for heating and cooking. This is something that a propane tank can take care of. It’s not a HUGE expense, but needs to be factored in.
When banks are going to loan on a piece of land, they are going to want “plans” which are created by an architect.
They are also going to ask for 50% down payment on the land, after they approve the building plans.
This can vary from lender to lender. That’s why it’s important to have a Mortgage Broker helping you with your land purchase, besides us, your Realtors who are going to search for the land.
We know some of the best Mortgage Brokers, which are creative, let me know when I may refer you!
At the end of the day, an appraisal maybe one of the most important decisions you make as a raw land buyer when it comes to offering the “right price’. This appraisal is going to take place before you get into escrow, which is when your lender will send their own appraiser.
It is a big dream to buy land to build a custom home. It can work out, but only with the best and most experienced advisor.