Created on Wednesday, November 26, 2014
Updated on Monday, February 26, 2018
by Land Century
Before you decide to purchase a vacant piece of land, it is important to factor in every possible cost, and consider all the problems that might arise during, and after, the sale. The following guide will take you through all of the steps on how to buy land in Arkansas.
- Before you start to do anything else, you need to decide on a total budget. Purchasing the actual land is just one phase of the process. You will also need to think about how much it is going to cost to build on that land, as well as any extra structures that you plan on having built. You might even need to install power and water sources, and materials will need to be transported to the site. Do not get carried away and spend all of your money on the property, only to realize that you cannot afford to finish your new home.
- Take a look at the areas that surround any property that you are looking at. In some areas of Arkansas, there might be nearby natural sanctuaries, other homes, or commercial properties. These things might not prove to be an issue, but it helps to know exactly where you are going to build, so that you can weigh up all of your options, and make the right choices. You might wish to buy land that is completely out in the country, and isolated from other people, or you might be looking for a place with friendly neighbors, and a nearby city that you can travel to for work or shopping. If you plan to buy your land for investment, think about how the area surrounding it might be maintained, or developed, in the future.
- Research how the land is zoned. Contact the county or the city that is closest, and find out the type of zoning for the property that you are interested in buying. If you find acreage for sale in Arkansas that is zoned for commercial use, but you plan to build a house you will be in a serious amount of trouble, and you might lose loads of money trying to fix your mistake. It might take a lot of effort, time, and possibly money, to have the zone changed, assuming that it is possible at all.
- Determine exactly where the property lines are when you find good land to buy. These boundaries will determine just where your property starts, and where it ends. Some places, especially in rural areas, might have natural elements that cross land lines, and make it difficult to stick to boundaries.
- Hire an expert to properly appraise land before you buy it. They can confirm roughly how much the land is worth, and tell you how much it might cost for improvements. Almost everything that you build is going to require expert work, like building foundations, laying driveways, or building wells. You will also need a professional to hook the property up to water, power, and sewerage lines. If you want to make the whole process easier, it pays to find trustworthy experts right from the start, and even before you buy vacant land in Arkansas.
- If you want to make the process of buying land easier, finance it with a local bank in Arkansas, instead of going with a national lender. They will have more knowledge of the regulations and rules of the local area, which includes improvements that you might need to pay for on the property, and how much they will cost with local businesses. It helps to have a lender who is already well established in Arkansas, so that you do not discover any nasty surprises after making a land purchase.