I'm thinking into buying land so i can build a home but my thing is, the home part would probably take some time before actually starting construction. My question is what do i have to look forward to when i buy the land? just the land.

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    The question is off-topic as opinion-based, but is also far too broad for a Q&A site. I recently purchased 40 acres of mostly unbuildable land, and the time spent there watching wildlife and enjoying the quiet is worth more than gold. – isherwood May 18 '19 at 22:04
  • Sorry, i just didn't have where else to ask this question at my disposal, but the taxes part do worry me, as I've seen land that's like 12-50 bucks of taxes monthly to something like 25000 yearly .. Differences are insane. – hm11 May 18 '19 at 22:46

Whether land or house, real estate does soak you for taxes, so as opposed to your money sitting in the bank, where it might make some (not so much these days) money, land will cost you to hold. Depending on the market the price may rise or fall, so you might be happy or sad you bought when you did.

You do get the opportunity to scope out the land over time and consider where things go, which is a big issue on large acerage and not much of a choice on city lots. You can also start sinking money into whatever services your house will need, piecemeal, such as water (well, or connect to public if available) sewer (septic, or connect to public if available) electricity and buiding a driveway, or at least the "construction version" of a driveway, once you know where you'll put the house.

  • Thanks for your comment, i really do appreciate it – hm11 May 18 '19 at 22:44

If you buy property a few years before construction, you’ll be able to 1) enjoy the property...and understand view potential, 2) spend time on the property and understand which way prevailing winds blow...and which way winter winds blow, 3) start design of house, 4) locate and determine best location for utilities, 5) understand noises, if any, and when they occur, 6) If you finance the property, you can “wrap” it into your permanent house loan...and , presumably the value will increase, which will help with your downpayment.

  • This really helps, ill look into that last part and just go for it. – hm11 May 18 '19 at 22:44
  • I wouldnt be so certain that the value of the land is going to increase when compared against inflation. There are always bubbles with any market and in many areas, market values have increased to well above levels before the Great Recession. The housing market bubble was a primary culprit for the Great Recession. I have heard some plausible rxplanations for the home value increases, and none of them sound like current prices are guaranteed to be sustained or increase. – statueuphemism May 19 '19 at 0:56

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