Many prospective homeowners have a clear vision of their dream home, down to every detail. However, what they often overlook is how the location of the land can impact their project, sometimes in costly ways. Unfortunately, many buyers make the mistake of purchasing land without fully understanding the potential challenges it could bring.
When it comes to buying land in Portland, ignorance is not bliss. To ensure that your dream home doesn’t turn into a nightmare, it’s important to be well-informed. Here are five key things you should know before buying land in Portland to build your dream home.
Zoning
Before purchasing land in Portland, it’s crucial to understand zoning restrictions. These regulations determine how the land can be used and what type of buildings are allowed. Zoning laws may also specify requirements regarding property size, shape, and even the style of the structures you plan to build.
It’s essential to check both local and regional regulations to ensure there are no restrictions that could delay or prevent your construction project. Additionally, be aware of environmental restrictions, such as protected wildlife or conservation areas, which could impact your ability to develop the land. Certain environmental concerns, such as contaminated soil or hazardous materials, can also pose serious health risks or lead to long-term financial loss if not addressed.
Setbacks and Utilities
When purchasing land in Portland to build your dream home, be aware of setback requirements, which can limit how much of the land is actually available for construction. Setbacks are regulations that determine how far back from property boundaries your home can be placed. These setbacks can apply to various features of your property, such as the distance from the street, fences, bodies of water, or neighboring properties. Local, state, or even federal laws can dictate these setback distances, so it’s vital to understand the rules in your area before moving forward with your plans.
Additionally, you should ensure that essential utilities such as electricity, water, sewer, and other services like cable, telephone, and internet are accessible on the land. Lack of utility access could prevent you from building or using the property as planned, adding unexpected costs and delays to your project.
Survey
To ensure you’re getting exactly what you expect, it’s highly recommended to have a current survey done before purchasing land in Portland to build your dream home. While older surveys may be available, a fresh survey can provide the most accurate and up-to-date information. It’s an investment worth making to avoid potential issues down the road.
Additionally, you should request a soil and geology report. Understanding the type of soil on the property is essential, as it can significantly affect your construction plans. For example, solid rock or unstable soil may make it difficult or impossible to add a basement. A survey not only helps establish the exact property lines but also helps you avoid potential legal disputes in the future. If you’re working with lenders, they may also require a survey as part of the financing process.
Future Plans
When buying land in Portland to build your dream home, the location’s current and future value plays a significant role in your decision. It’s essential to research any planned developments, such as access roads, utilities, and local growth plans, as these factors can impact the land’s long-term value. Pay attention to future zoning changes and how nearby areas are being developed—these could either increase or decrease the property’s appeal in the coming years.
Another critical factor to consider is the potential for new taxes or assessments. Local governments may impose additional taxes for large infrastructure improvements or public works projects in the area. Make sure to investigate the property taxes carefully, especially for lands with unusually high rates or pending assessments for future improvements. Avoid purchasing land near projects or changes that could negatively affect the area’s desirability, such as the construction of a landfill, new airport expansions, or other unappealing developments.
Land Covenants
When buying land in Portland to build your dream home, land covenants are an important consideration. These are legal restrictions or rules that govern how the land can be used. They may require you to do certain things with the property—or prohibit you from doing others. It’s crucial to be aware of these covenants, as they could limit your building plans or future property uses.
Land covenants can be temporary or permanent, depending on the terms set by the original property owner or developer. It’s essential to carefully review these covenants, as they may be included in the sales contract, or you can find them in the land’s certificate of title or in documents referenced within it.
By being aware of these potential restrictions, you’ll be in a better position to make an informed decision before purchasing the land.
Why not let our experts at PDX Home Buyers make it simple? PDX Home Buyers will help guide you to the best property for your dream home! Here at PDX Home Buyers, it is our job at PDX Home Buyers to educate ourselves on the latest laws, restrictions, and plans for the future to ensure your vision becomes a beautiful reality. PDX Home Buyers is happy to help you understand all of this and more that you should know about buying land in Portland to build your dream home. PDX Home Buyers will walk you through each step of the process, from financing options all the way through to construction. Send us a message or call PDX Home Buyers at (503) 893-9107 today!