The Do’s and Don’ts of Buying Vacant Land Share Share on Facebook “Buy land to build on, not to hold, as city ordinances are being passed more regularly against vacant land, and the chances are high that these ordinances restrict the build out, thereby devaluing the land that you own,” Graham says. [See The Best Apps for House Hunting.] Don’t Expect to Get a Loan. A land purchase .Buy Land to Build a House. Step. Remember the real estate cliche location, location, location. Building costs will not go down if you choose to build in a less desirable neighborhood. While the cost of the lot will be higher in a better area, the price difference between lots will typically be far less than the added equity you will gain by building in a better neighborhood. Step. Define .Whether you’re planning to buy a teardown and build a home on the perfect plot of land or buy into a new housing development, prepare for a process that differs from purchasing an existing property..How to Buy Land to Build a House Written by Kimberlee Leonard Updated Land loans and construction loans can be rolled into one if you’re prepared to begin building..
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