I am thinking about buying a lake front lot of land near my home town in Texas. The area is incorporated, but there are very few built houses around it. I am thinking about buying it as an investment, either to build and sell or to just hold the lot for a few years. This would be my first time buying land.
The real estate agent told me that water is "two lots down the road", and therefore it would be cheaper to have water and sewer installed in the land, as long as I contact the city and pay for them to install it on my lot. I asked her to send me as much documentation about the land as possible, and she said "there isn't much to send since there's nothing there", which I found weird since I would expect an air view with the delimitation of the land and other sorts of important information. Perhaps the city could give me that info?
With that said, I have a few questions:
- When buying raw land, does it make more sense to grab information from the city rather than the agent?
- According to the agent, the city has some requirements about the builds. For example, the home has to be bigger than 1,500 sq ft. What other types of requirements can I expect and that I should do research on?
- What other information should I look for? I realized that water and sewer is one of them, and also it's best to know if the land is in an incorporated area.