This blog is for educational purposes only, not an offer of credit or advertisement for current loan terms. It does not provide legal advice. Refer to our loan web pages or consult professional advisors for specific information.
There’s a solid rule in real estate: The land you choose sets the foundation for any home’s design, lifestyle, and long-term value. Finding land to build a house is one of the most important decisions for your dream home or business building.
Ultimately, the design of your house or business building won’t matter much if the location isn’t quite right.
However, finding the perfect spot can feel overwhelming, especially considering so many factors.
To help you out, we’ve curated five essential tips for finding land to build your ideal home or business building.
Apply now with MIDFLORIDA Credit Union.
1. Define your vision and priorities
Before starting your search, clearly define what you want in a property.
Consider how the land will align with your lifestyle, needs, and future goals.
Key considerations for choosing land:
- Location: Do you prefer rural tranquility, suburban convenience, or proximity to an urban center? Think about your commute, school districts, and access to amenities like shopping or healthcare.
- Size: How much space do you need? Consider your home’s footprint, outdoor areas, and room for future expansion.
- Topography: Do you want flat land for easier construction, or are you drawn to sloped or wooded lots for aesthetic appeal?
- Environment: What’s the area's climate, natural vegetation, or noise level?
A clear vision helps narrow your search and maintains your focus on properties that meet those specific requirements.
2. Research zoning and regulations
According to local authorities, not all land is created equal for building.
Local zoning laws and regulations dictate how a property can be used and developed, which could impact your plans.
What to look for in Florida land:
- Zoning designations: Confirm the land is zoned for residential use. Properties designated for agriculture, conservation, or commercial use may require rezoning.
- Setbacks and easements: Learn about restrictions on where you can build, including minimum distances from property lines, roads, or other structures.
- Environmental restrictions: Check for rules about wetlands, floodplains, or protected areas that may limit development.
Pro tip: Working with a land real estate agent or land-use attorney can help you navigate complex regulations and ensure the property aligns with your vision.
3. Evaluate accessibility and utilities
While an isolated property may offer privacy, it may also have certain challenges regarding accessibility and essential utilities.
Make sure the land is prepared to support your home and lifestyle.
Accessibility:
- Road access: Does the property have direct access to a public road, or will you need to secure a private easement?
- Driveways: Consider the cost and feasibility of installing a driveway, especially for properties in remote areas or with challenging terrain.
Utilities:
- Water and sewer: Determine whether the property has access to public water and sewer systems. If not, you must budget for a well and septic system.
- Electricity: Check if power lines are nearby or if you must explore alternative energy sources like solar power.
- Internet and phone service: Confirm whether there are reliable internet and phone services for that area, especially if you work from home.
Infrastructure requirements can add significant costs to your project, so it’s crucial to understand what’s already in place and what will need to be added.
4. Perform a site assessment
A thorough evaluation of the land can help you uncover potential challenges and opportunities before you commit to a purchase.
Key steps in a site assessment:
- Survey: Hire a professional surveyor to confirm property boundaries and ensure no disputes with neighboring properties.
- Soil testing: Conduct tests to evaluate the soil’s suitability for building and installing a septic system.
- Topography and drainage: Assess the land’s slope, drainage patterns, and potential for erosion, all of which can impact construction and landscaping.
- Environmental factors: Investigate environmental issues, such as endangered species habitats or contamination, that may complicate development.
Pro tip: Bring your builder or architect to the site to get their professional input on design possibilities and potential challenges.
5. Secure financing early
Finding the right land is only part of the equation—securing financing to purchase the property you’ve got your eye on is the most important step in the process.
Since land loans differ from traditional home mortgages, working with a lender experienced in Lot Loans is essential.
What to know about Lot Loans:
- Loan structure: Lot Loans are designed specifically for purchasing land and often require a larger down payment than traditional mortgages.
- Interest rates and terms: Shorter terms and higher interest rates are typically associated with these loans due to the higher risk associated with undeveloped land.
- Loan-to-value ratio: Be prepared for a lower loan-to-value ratio, which means you’ll need a larger upfront investment.
MIDFLORIDA offers competitive Lot Loans with flexible terms, making it easier to secure financing for your dream property.
Why finding the right land matters
The land you choose is more than just a place to build—it’s the foundation of your future home and lifestyle.
Choosing the right property ensures that your vision aligns with the site’s potential, and it can save you time, money, and stress during the building process.
Why MIDFLORIDA is the right choice
Navigating the complexities of purchasing land can be challenging, but partnering with a trusted lender like MIDFLORIDA Credit Union simplifies the process.
Expertise in land financing
With years of experience in lot loans and construction financing, MIDFLORIDA provides tailored solutions to meet your unique needs.
Local knowledge and personalized service
As a community-focused credit union, MIDFLORIDA offers local insights and a personalized approach to help you make informed decisions about financing your land purchase.
Streamlined application process
MIDFLORIDA’s efficient application process ensures you can confidently move forward and secure the financing you need to make your vision a reality.
Begin your build with the right first steps
Finding land to build your dream home starts with the right strategy and support.
At MIDFLORIDA, our lending team has financed thousands of dream homes and helped them achieve their goals.
We know what it takes to get a Lot Loan approved—and it starts with our fast and easy online application.
Let us help you take the first step toward turning your land into your dream home!
