Buying vacant lots - any caveats?

Am looking to buy 4 lots(each approx 8000 sq ft) in Hernando County, FL.

The asking price for 4 lots is about $35K and during boom time these were priced at $90K. Property taxes run about $850 a year.

Am looking to hold these long term and understand that holding vacant land for appreciation is very risk but this would be a small investment.

Are there any other caveats?


You always want to check and verify locations for all utilities including Sewer, Water, Gas, Electric, Cable and Telephone and whether these are available at the lot line? Have tap fee's been paid? Are there any easements or unusable square footage like swamp?

If sewer is not available will these lot’s Perk? Has a Perk test been done? Are these lots in a flood plain?
Is water available? If not will a well work and how deep is the water table?

Does the county, city or town require maintence to cut grass and weeds or trim tree’s?
Are there requirements to pay an HOA even though these are bare lot’s?

Is the size adiquate to build a home when you take set backs and off sets into consideration?
Will you need some kind of basic umbrella liability insurance to cover the lot’s for liability?

Are sidewalks, curb and gutter and roads in place? If not and there required what’s the cost?


Thanks…that’s a whole lot to consider than what I was thinking…pretty good insight. appreciate it :biggrin

Location is everything in land investment.

Make sure the lots have utilities and can be built on. lots of property can not be built on.