texas mortgage rates
Your Texas Mortgage Rates
Lending Source

10721 Jackson Lane, Frisco TX 75035

Phone: (214) 387-0683       Fax: (214) 387-0185       Email Us

 
 

 

Buying a Lot

 

Can you simply not find the house you want from what's available on the market? Buying a lot to build on has its own set of considerations. The most important one is still location.

  • Check your local newspaper for listings of lots for sale. Or hire an agent who specializes in lots to help you find one that's a good value and suitable for the home you want to put on it.
  • Consider the location carefully, as well as proximity to shopping districts and parks, quality of the schools, traffic and congestion, public transit and the crime rate. Look at the lay of the land.
  • Features such as steep drop-offs, drainage problems or poor access roads may increase costs. Find out if utilities such as gas, electricity, sewer, garbage and water are available, especially if you are buying a lot off the beaten path, and how much it will cost to access them.
  • Define in general terms the structure you'd like to build, including square footage, number of floors, number and types of rooms, architectural style, as well as any specific features you want, such as a pool or large deck. Depending on the size and design of your home, a particular lot may or may not work. Consult an architect or buy a plan to rough out some designs and assess feasibility.
  • Investigate what the future holds for neighborhood
  • ring properties. Will other houses be built? How many? Are they zoned for residential or could commercial buildings be put in? How will this affect parking and traffic? Is there a possibility of additional buildings or roads being added in the future? How will your view be impacted? Look into potential environmental disputes such as water rights or endangered species habitats that could affect your property's value or ability to be sold or developed.
  • Hire a surveyor to map out the specifics of the property. A title company can order this or refer you to a suitable surveyor. Costs will vary according to the time needed for the survey and how difficult the job is. Ask for estimates.
  • Find out if the lot is in a flood plain. If it is, you'll not only need flood insurance, but will need to have a soil engineer conduct a survey to spot potential sliding problems.
  • Buy owner's title insurance. This coverage lets you gain clear title to the property. The cost will depend on the value of the land.
  • Put down earnest money to hold the property while you close the deal--a small percentage of the overall value.

 

What To Look For
  • Location
  • Utilities and services
  • Lay of the land
  • Ideal structure
  • Zoning issues
  • Surveyor
  • Insurance
  • Financing
Overall Tips & Warnings
  • Call local builders to learn more about housing developments they are building and lots that are still available. Knowing who owns land that you're interested in generally simplifies the process of purchasing the land and building a home, which can be done in a single transaction.
  • Visit the lot several times at different times of the day to get a complete feel for sun and shade patterns, as well as traffic and parking issues.
  • If you buy an odd-shaped lot or one that's difficult to build on, be prepared for extra expenses such as house plan modifications.


 

   

Brown Lending handles Mortgage Loans

filling in this form and we will give you Mortgage Lending rate quotes from mortgage lenders who are licensed to provide financing to TX area consumers only:

 

 Your information will never be given or sold to anyone else.

Name

Email

Phone

Property State

Description of Home(s) to be Built

Thank you for allowing us to provide you with excellent mortgage lending rates for Texas

 

 

 

 

 
  DFW Metroplex
Counties Collin | Dallas | Denton | Ellis | Henderson | Hood | Hunt | Johnson | Kaufman | Parker | Rockwall | Tarrant | Wise
Above 500,000 Dallas | Fort Worth
200,000 - 500,000 Arlington | Garland | Plano
100,000 - 200,000 Carrollton | Denton | Grand Prairie | Irving | McKinney | Mesquite
50,000 - 100,000 Flower Mound | Frisco | Lewisville| North Richland Hills | Richardson
10,000 - 50,000 Addison | Allen | Athens | Azle | Balch Springs | Bedford | Benbrook | Burleson | Cedar Hill | Cleburne | Colleyville | Coppell | Decatur | DeSoto | Duncanville | Ennis | Euless | Farmers Branch | Forest Hill | Grapevine | Greenville | Haltom City | Highland Park | Highland Village | Hurst | Keller | Lancaster | Mansfield | Rockwall | Rowlett | Sachse | Saginaw | Seagoville | Southlake | Terrell | The Colony | University Park | Watauga | Waxahachie | Weatherford | White Settlement | Wylie

Mortgage Rates Apply Online Credit Basics

Home Equity Basics

Mortgage Basics

Contact Us

About Us

Mortgage News  Helpful Articles

Mortgage Calcultator

 

 

 

 

 

 

 

 

         

OPEN MORTGAGE
10721 Jackson Lane, Frisco TX 75035

PHONE: 214-387-0683 EMAIL: info@brown-lending.com

 

"Your reliable Dallas Mortgage Broker and specialist on Texas Mortgage Rates and Home Mortgage Loans."