Thursday, August 28, 2008
Buying land in the Adirondacks
Land sales in the Adirondacks have been steadily climbing over recent years. Many land parcels have been in the same families for generations and the most recent owners have begun to recognize the value of this extremely desirable territory. This article will outline many important questions that you will want to have answered before investing in your Adirondack dream. If you're searching for the perfect getaway location to build a home or vacation residence, you may want to consider enlisting the aid of a local Realtor. Governed by a code of ethics and required to meet licensing requirements, these folks can offer invaluable assistance as you work through the steps below. In most cases, the seller of the property pays the realtors fees, so you can still work within a budget and take advantage of this great ally.
The most important aspect to ensure regarding any prospective property is that it can be developed to suit your needs. You will need to investigate whether the property is subject to any deed restrictions that may interfere with your building plans. If your property is in a development you will need to review a copy of the restrictive covenants of the development to ensure that your plans comply with any restrictions or guidelines established therein. You also want to review the deed to see if there are any easements or land use grants that have been applied to the property. The Adirondack Park Agency is an organization whose charge is to oversee the use of the land within the boundaries of the Adirondack Park. They have published a Citizens Guide to land use in the park which is available online through the GC Network website. Make contact with the APA early in your process and ensure that your plans for the property conform to APA regulations.
You'll need to investigate the availability of your utilities. Inquire as to whether the property has city or community water and/or sewer connections available. You may want to make the sale contingent upon the ability to install a septic system suitable to the size of your intended home. Is the property large enough to allow for a septic system, a well and the square footage of home that you want to build, all within applicable codes? Be sure that the property does not have any restrictions regarding the availability of water.
Locate the nearest electric pole and speak to the electric supplier to determine the estimated cost to bring electricity to this property. Internet use has become increasingly important; if this is a priority for you then you will want to know if cable is available as well. If not, find out what kind of alternative access is available and what costs are associated with obtaining it.
You will also need to investigate the accessibility of the land. Ask the seller if the land is accessible by public road. If this land is not accessible by public road you will need to verify that you have a deeded right of way that provides for your use as well as the use of future owners of your property. In a private road situation, you will want to find out if there is a road maintenance or association agreement in place to maintain the road and if so what rights and fees are associated with it.
You will need to ask the property owner about the previous uses of the property and inquire about any possible hazards on the land such as buried waste or fuel tanks. If these items exist you will want to predetermine the costs to remove them and whose responsibility it will be to do so. Make your sale contingent upon a satisfactory title search securing your interest in the property. It is also a good idea to initiate a new boundary survey of the property.
Local lenders and builders who have worked with others in the neighborhood or town are another great source of information. Speak with a local lender who has supplied nearby residences with construction loans. The same goes for builders of the nearby homes. These individuals have first hand knowledge of any potential pitfalls that may be encountered along the way.
To find a Realtor, Lender and/or a Builder, visit the Homeowners Resource page of the GC Network website. We've listed many of the forms that you will need along with many other helpful tips and advice designed to make building a home in the Adirondacks easier and more convenient.
The most important aspect to ensure regarding any prospective property is that it can be developed to suit your needs. You will need to investigate whether the property is subject to any deed restrictions that may interfere with your building plans. If your property is in a development you will need to review a copy of the restrictive covenants of the development to ensure that your plans comply with any restrictions or guidelines established therein. You also want to review the deed to see if there are any easements or land use grants that have been applied to the property. The Adirondack Park Agency is an organization whose charge is to oversee the use of the land within the boundaries of the Adirondack Park. They have published a Citizens Guide to land use in the park which is available online through the GC Network website. Make contact with the APA early in your process and ensure that your plans for the property conform to APA regulations.
You'll need to investigate the availability of your utilities. Inquire as to whether the property has city or community water and/or sewer connections available. You may want to make the sale contingent upon the ability to install a septic system suitable to the size of your intended home. Is the property large enough to allow for a septic system, a well and the square footage of home that you want to build, all within applicable codes? Be sure that the property does not have any restrictions regarding the availability of water.
Locate the nearest electric pole and speak to the electric supplier to determine the estimated cost to bring electricity to this property. Internet use has become increasingly important; if this is a priority for you then you will want to know if cable is available as well. If not, find out what kind of alternative access is available and what costs are associated with obtaining it.
You will also need to investigate the accessibility of the land. Ask the seller if the land is accessible by public road. If this land is not accessible by public road you will need to verify that you have a deeded right of way that provides for your use as well as the use of future owners of your property. In a private road situation, you will want to find out if there is a road maintenance or association agreement in place to maintain the road and if so what rights and fees are associated with it.
You will need to ask the property owner about the previous uses of the property and inquire about any possible hazards on the land such as buried waste or fuel tanks. If these items exist you will want to predetermine the costs to remove them and whose responsibility it will be to do so. Make your sale contingent upon a satisfactory title search securing your interest in the property. It is also a good idea to initiate a new boundary survey of the property.
Local lenders and builders who have worked with others in the neighborhood or town are another great source of information. Speak with a local lender who has supplied nearby residences with construction loans. The same goes for builders of the nearby homes. These individuals have first hand knowledge of any potential pitfalls that may be encountered along the way.
To find a Realtor, Lender and/or a Builder, visit the Homeowners Resource page of the GC Network website. We've listed many of the forms that you will need along with many other helpful tips and advice designed to make building a home in the Adirondacks easier and more convenient.
# posted by GC Network : 4:19 PM
