I’ve never bought property before. How do I start?
The first step to take when considering buying land is determining your budget and financing options. Consider things like what you can afford to pay for a down payment and ongoing monthly payments. This is also the time to figure out your credit score and whether or not you’ll be able to access traditional loans. If you have bad credit or no credit, don’t worry: there are still options for you.
How can I find the right land for sale in Texas?
Finding the right land at the right price can make a big difference in your future, but it’s also easier said than done. The good news is that you don’t have to go it alone. First, you can always reach out to our team of land experts to talk more about your needs and how to meet them. In the meantime, you can follow the steps below to start your search for Texas land for sale:
- Determine your budget.
- Determine your needs, including utilities, location, size, amenities, and any special requirements.
- You can search online for properties in your target location.
- You can use land developer websites and real estate sites to check out land for sale.
- You can reach out to a land developer like Vista Ridge Acres for help finding the right property.
Can I buy land with bad credit or no credit?
One big hurdle that stands between many Americans and their dreams of homeownership is bad credit. However, the good news is that you have options when it comes to financing for land purchases. Owner financing allows land buyers to work directly with sellers to purchase land, allowing them to skip the red tape and credit checks associated with traditional lenders and mortgages. Rather than relying on a credit check, owner financing eligibility is based on your proof of income.
How does my credit score affect my ability to buy land?
Your credit score can affect your ability to buy land in a major way: if you have bad credit or no credit, you may not be able to qualify for a traditional mortgage or home loan. This can limit your choices when it comes to what land you can buy. However, land ownership is still possible: you can use owner financing to buy land without a credit check.
What are closing costs on land purchases?
Like any type of real estate purchase, buying land comes with certain closing costs. These are the expenses that buyers and sellers have to pay when a piece of land is sold. These costs can include things like appraisal fees, loan application fees, and a credit report fee. That’s one more thing that makes owner financing so great for buyers: you can avoid many of the fees associated with closing a land purchase utilizing traditional lending.
How do I check for utilities on a property?
First of all, it’s worth noting that our Vista Ridge Acres properties have utility access for electricity through AEP and water through North Alamo Water Supply. However, if you’re considering other options, you might need to figure out whether or not they have utility access. The process will vary depending on which type of utility you’re interested in:
- Power – First, check for power lines. If you’re unsure, call the County Planning and Zoning Board and ask about the local power provider. Call the provider and ask about the property in question.
- Water and Sewage – First, call the local water provider, usually a local government. Then, ask about the property in question.
I want to build my own home. Where do I start?
Like with buying land, starting a new home construction process will begin with determining your budget.
How can I set a budget for my new home construction?
In general, it’s a good idea to limit your spending on housing costs to about 28% of your monthly income, and that includes the cost of your land. This should give you a rough idea of how much you can afford to spend per month on construction. By consulting with a contractor, you can get a sense of what services your budget might cover.
