Blog#3: #REALTORBuzz | Can you build on property you buy
Hi, this is Oscar Arellano and welcome to another blog on #RealtorBUZZ. Recently I was at a lot with a potential buyer, and they had an interesting question regarding building on a lot.
When you are buying a house on a lot, and your intentions are to build, what do you look for?
First, make sure the home is zoned residential or commercial. So you can build a residential home
Second, is the property historic? Meaning can you go ahead build on this property? Is it allowed by the city? A lot of cities will not allow you to build anything new on a lot if the property is labeled historic.
Third, you have to know the setbacks. Can you build the square feet you wish to build? (Meaning lot coverage) Before you make any purchase on a property, ensure that you have the amount of due diligence required for you to go to the city where you are buying to make sure that you are allowed to build what you want to build. Taking the time and putting forth the effort to find these things out will save you from a bad situation if you find out you are unable to build on the property you had in mind.
Always consult with a real estate professional, either a licensed contractor or architect and make sure that whatever you want to do, you are allowed to. The worst thing you want to do is buy a property and find out after the fact that you can not build what you want to build.
If you are looking for any real estate advice, any questions related to real estate matters, or you are looking to buy, sell, or lease a home please give me a call. I will be happy to help you.