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10 Things to Know Before Buying a Vacant Lot


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Utilities
If the lot you're interested in doesn't already have utilities, you'll have to deal with having those added.
If the lot you're interested in doesn't already have utilities, you'll have to deal with having those added.
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Those of you looking to invest in property and keep it pristine and unaltered won't have much use for utilities. For everyone else, they're a vital element of the equation. Any vacant lot you're eyeing for a home or business will need utility access. You know the drill -- electric for power, gas for heat, phone lines for communication. You'll want some or all of those piped into your property when construction begins. One way to bypass this concern entirely is to purchase vacant land that already has utilities installed.

If you don't luck into such a purchase, you'll have a few things to take care of, and they're all going to cost money. You'll have to deal with the power company to have your property connected to the nearest power lines. Same goes for the phone company, and with gas you'll have to do some research to choose between installing a tank on your property and connecting to local gas services.

Water and sewage could potentially be more work. Vacant lots that aren't close enough to water and sewage lines will need wells and septic systems to gain access to these two utilities. That means added expenses and added hassle, as you'll need permits for drilling a well and installing a septic system [source: Squidoo]. Assuming you're close enough to local resources to run in some or all of your utilities, the next issue to tackle is road access.


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