First, what are your needs?
Are you wanting a tract to hunt on or are you looking for a weekend getaway in the country? Is it your desire to own land for recreational purposes, livestock needs, a country getaway or as a solid investment? We can help.
Throughout the Southeast Texas area, there are many different tracts of land that fit many different needs.
-Some are great ranch-type properties that you can run cows on and produce hay.
-Some are set up for your equestrian enthusiast and have arenas and horse barns.
-Others are wooded and great for hunting or a good timber investment.
-Occasionally, you’ll find a tract that can check all of the above boxes!
Knowing what you want to do with your new tract of land is an important first step in the land-buying process!
What about land loans?
Land loans are different from a traditional home mortgage.
These types of loans generally require a larger down payment and have varying interest rates.
We recommend that our customers use lenders who are familiar with land transactions. There are several that specialize in land loans like Capital Farm Credit, Texas Farm Credit, Crockett National Bank, and other local banks. You want to make sure that whoever you choose for your land loan understands how these specific loans work and how to value them.
Property appraisal is also different when it comes to appraising land—the average appraiser doesn’t even work with land!
However, a lender generally has in-house appraisers whose entire job is devoted to appraising farm and ranch property.
In our experience, it is best to use a lender who really understands land and knows how to get you to the closing table.
As it is with buying a home, the lender you choose can determine whether the buying process is nice and smooth or more of a headache.
Access and road frontage play a large part in the value of a property, and both have their advantages.
-If you are looking for a complete getaway, a deeded easement to the tract may be just what you’re looking for!
-A deeded easement allows you to access your property by traveling across a non-owned property. This allows you to put more distance between your property and main roads.
-If you want a tract of land with higher development and investment potential, then road frontage is a good idea.
No matter the route you choose, make sure to have good and legal access to the land that you are buying!
When you are looking for land, remember to keep in mind your needs, loans, and property access.
Head over to Markham Realty and speak with one of our agents today! We would love to find you the property you’ve been dreaming of.