It doesn't matter if you want the privacy of country acres or a quiet residential lot in a subdivision. Buying a piece of land is different from buying a house.

Before you make any final decisions about whether or not you are buying land for investment purposes, it is important to ask the following questions.

What Are The Zoning Rules?

Zoning issues are the most destructive of plans. So before you purchase land, make sure to visit the county planning and zoning office.

Take a look at the long-range plan of general use for the area around the lot. It will outline the permissible uses and future plans for the immediate area.

Consider future plans for a landfill in your area if you are planning to build a house. This could have an impact on the value of your home and your family's life.

Ever drive down a major highway, and wonder why someone would build a house so close to it. It is possible that the house was built before the highway and that the homeowners didn't know it was coming.

Ask a county planner for help if you are unable to decipher the general usage plan in enough detail to determine whether road improvements or highways have been planned.

Do Deed Restrictions Exist?

You will need to comply with the restrictions of a homeowners association that governs your land. Carefully read the Covenants Conditions and Restrictions. These documents explain what you can and cannot do with your property. Your attorney can help you with any questions regarding the CC&Rs. It is essential that you fully understand them.

Do You Want To Land That Is Easy To Access?

How do you get to the property? Likely, you won't have any problems if it's located on the main road.

Most often, especially in rural areas of the country, you have to cross another's property to gain access to a piece of land. Your property is considered "landlocked" without what is called an "easement." Before you buy land, make sure that a right of way easement has been granted in writing.

You will also need to consider the cost of building a road to your property if it doesn't exist.

Are Utilities Available?

The builder usually brings utilities to larger developments. As a result, buyers of country property may have to pay for utilities and sewage systems. This can sometimes mean that buyers will need to drill a well or install a septic tank.

Request bids for any work you need before you sign a purchase contract. Your real estate agent may make your agreement contingent on your acceptance of the bids.

How Can You Finance The Purchase Of Land?

The lender will typically ask for a 20%-to 50% down payment if you are buying undeveloped land. You will most likely pay a higher interest rate.

Some lenders do not accept vacant land loans. This could make it difficult to finance your purchase. However, many sellers offer to finance. You can also apply for financing through local banks and credit unions.

The biggest mistake residential land buyers make when applying for loans is not considering the cost of developing the land. Get all bids before you meet with a lender.