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Sheet G: Field note
Buying land in Union County is an exciting opportunity, but it's a different process than buying a house. Here's what you need to understand before you make an offer.
Not all land is buildable for your intended purpose. Check zoning designations with Union County before falling in love with a parcel. Agricultural, residential, commercial, and mixed-use all come with different rules.
Does the parcel have road access? Water, sewer, or just well/septic potential? Electric service? These factors dramatically affect the cost to develop and your financing options.
If you're planning to build with a septic system, a percolation test tells you whether the soil can support it. Budget for this before purchase, failed perc tests have killed many land deals.
Land loans work differently than mortgages. Expect higher down payments (20-50%), shorter terms, and higher rates. Some buyers use the equity in an existing home to purchase land outright.
Union County land values have been rising alongside home prices. If you're buying to build eventually, sooner is typically better than later.
Questions about a specific parcel? Reach out, I'm happy to help.
I'm always happy to talk through what this means for your specific situation.