Real Estate Orlando 4 Myths About Vacant Land

Real Estate Orlando 4 Myths About Vacant Land

Purchasing land to build a home on is very different from buying a home within an Orlando real estate development. In fact, vacant land can be downright scary to someone who's never dealt with it. Don't let this fear keep you from buying land.

Do your research and separate the truths from the myths. To get you started, here are 4 common land myths debunked:

1. It takes too long to build on. The truth is that you can build on your vacant land as soon as you're ready. What can take time is getting the right building permits and fitting into your builder's schedule. However, none of this has anything to do with the land itself. You can run into these delays if you build in a planned community.

2. It has no value. You're most likely not going to be able to flip a piece of vacant land like you could a home. Yet, like any other type of Orlando real estate, land generally goes up in value over time. If you add improvements to land, like septic and water systems or even a home, its value will go up even more.

3. I have to pay cash for it. Although it may not be as easy for just anyone to get a bank loan for vacant land, it is possible. Even if you can't get a bank loan for land, many land owners are more willing to offer owner financing or a lease to own arrangement so you can purchase it.

4. It's just too risky. Of course there's a risk involved in buying vacant land, but it's no different than any other real estate investment. There's always a chance the Orlando real estate market will shift and make it more difficult to sell. However, as long as you do your homework and buy land in a desirable area, it's still a rather safe investment.

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