Ready to Buy Land for your Oklahoma Vacation Home? Here’s What You Need to Know
When you’re ready to start shopping for land here in Southeastern Oklahoma, there are many considerations - placement, size, amenities, accessibility, etc. There are so many options out there that it’s easy to get overwhelmed.
We’re here to help! We want to make sure that you as a buyer are equipped and empowered to make the right choice for you and you family. Here are a few things to consider when beginning your land search.
Location, Location, Location (And Lot)
The first question to consider when shopping for land here in Oklahoma is whether you want a rural property, or something in a development. There are pros and cons to both options, and it usually comes down to your priorities and budget.
Beyond the basic question of how close do you want to be to grocery stores and restaurants verses prime hiking or fishing spots, here are a few things to consider.
Pros and Cons of Purchasing Rural Land
Rural properties offer the most flexibility to use your land how you’d like – but the cost to build is typically much higher. From running your own utility lines to building your roads, there’s a lot that goes into taking raw land and making it a home.
On the other side, you may qualify for tax incentives, like an ag exemption, depending on the size of your land, and what you intended to farm or grow.
Pros and Cons of Purchasing Land in a Development
Buying in a development is a fantastic option for those looking for a second home but want the amenities, safety and convenience that come with buying into a community. While the price per acre may be more, the developer is usually picking up the cost of building roads and running utility lines.
Either Way, Legal Access is Key
With both rural and developed land, you’ll want to make sure you have legal easements, and have a current survey before buying. Ensuring legal access to your property is essential. This sounds like it would be a given, but often it isn’t. It’s very important to gain this information before closing on a property. You can research any property’s legal easements at the County Clerk’s Office.
2. Get Estimates Before You Buy
Building a vacation home is a cost-effective option for many families, and knowing the costs up front can help you make wise investment decisions. Getting the most accurate bottom-line pricing is imperative, especially when buying land.
We encourage our potential buyers to get estimates from both a builder and a road construction company. Builders in the area are always happy to come out to walk your property and help you determine what type of home is best suited the lot and the specific location to build your custom home.
You’ll also want to consult with a driveway/road construction company to determine the best placement of your driveway and determine how much it will cost.
If you’re considering a rural property, you’ll still need to call the builder and road construction company, plus a few more people. You’ll need to contact local water and electric companies to make sure you can get utilities to your home.
Many rural properties rely on well water, and if there isn’t already a well on site, a well company can give you an estimate for drilling. In addition, you will want to get an estimate on a septic system because rural areas don’t provide sewer services.
3. Questions to Ask the Developer
At Timer Ridge Estates, our buyers are looking for a luxury vacation property, where they can build on their own timeline. Most owners want the convenience of being just three hours from north Dallas, and want a quiet, secluded mountain escape.
We encourage our buyers to ask the following questions as they shop for land:
· Who is the developer and what is their experience?
· Is there an HOA, and if so, what are the annual dues?
· What are the property amenities?
· How close are the utility lines to the property line?
· Do you have building guidelines?
· Will the roads be private or public?
· Will people be allowed to rent out their properties?
· Do we have to build within a certain time frame?
· What is your long-term vision for this community?
At Timber Ridge Estates, our goal is for you have all the amenities and conveniences of a community. We offer the escape and privacy you crave while protecting your investment with an HOA and gated community.
Our owners and developers are personally going to be living here and are very invested in the community. We want to see this whole area thrive without becoming the next congested tourist hub.
Have questions or concerns about financing? Check out our one stop shop for all of your financing needs.