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How do you choose a vacant lot?


Real Estate Image Gallery Choosing land can be a lot more difficult than choosing a house. See more real estate pictures.
©iStockphoto.com/Chris Sadowski

Here you are, thinking about making one of the biggest investments of your life. What do you want? If that question sounds too broad, let's narrow it down a bit: What do you want in a piece of land? That's better. Buying a vacant lot has to begin with you. The truth is, there's a lot of land for sale out there in the world, and setting a goal is the first step toward making a successful purchase. Why do want to buy a vacant lot? To tuck it away as a safe real estate investment, or to build your dream house on it? Before choosing a vacant lot, you have to know exactly what you're choosing it for. Then it's time to start looking.

Before you bother driving around the countryside or browsing Google for property, take a look at your own finances and determine your budget. Is it $10,000? That might get you a couple acres somewhere. Got $100,000 to put down? Well you can probably get quite a spread with that kind of cash. Once you have an idea of how much money you want to spend, it's time to start looking. But there's still plenty you need to know before you buy, like how much your lot should be, what you should expect to pay for it and what elements of real estate are the most important to consider when eyeing a purchase. Read on to learn more about the ins and outs of how to choose a vacant lot.

 


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