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Buying Land and New Construction >From the Ground Up Buying land is different from buying a home, because you must resolve issues relative to land use restrictions, utilities, access and easements before building. When you locate land that seems right for your house, visit the local planning department before making an offer.
Ask whether city sewer, water and electricity are available. If not, you will need to calculate the expenses of installing a well and testing the soil for a septic system.
The land will be zoned for residential, business, or agricultural purposes. Does the zoning permit you to build the house you want? Are there easements on the lot that will limit where you can build or how you can access the property? Ask about the long-range plans for use of the surrounding land. The land will be more attractive if the city intends to build a park or new school nearby. But if a six-lane highway or a waste treatment facility are in the city's future plans, you may decide to look elsewhere for a place to build your dream home.
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| Q |
What are three of the best indicators of real estate market trends?
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| A |
Existing home sales, new home building and mortgage interest rates.
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 See More Real Estate Trivia > |
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Rachel O'Hearn and Leslie Benczik
RE/MAX All-Stars Realty Inc.
2281 Kingston Road, 2nd Floor
Toronto, ON. M1N 1T8
Phone: 416-597-0077
Fax: 416-342-0034
Email: Rachel@MyTorontoCondo.ca
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‡Leslie Benczik, Susan Taylor, Rachel O'Hearn, Alon Hillel, Rosemary Mauro, Tiffany Lee & Frances Kwong
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