How to buy a lot in a wooden sloped area

[Agustin Conti]

I am considering putting an offer on a 2 acre empty lot, in a sloped wooden area in Western North Carolina. I have never bought a lot and have no idea what are the steps and the things to consider, when evaluating this option. I have no desire now to build anything and I don't if I  ever will. This is a pure emotional type of investment and I want to honor it. The surrounding lots are developed and have houses, It is not a closed community but it looks like one. We do have a house we rent in the area and simply love it. I don't have a plan yet for the lot but I see a lot of potential and if i don't develop it I know I would not loose money if I sell it in the future. Features: Rolling Slope, Near Level, Steep Slope and small stream and partial look of the lake. The things I have no idea about is, what to ask for..septic tank? Water and electric? how hard (or expensive) would be to build. How do you evaluate those things and more important what is the checklist I need to go over when considering a lot of these characteristics in Western North Carolina. Any tips appreciate it. Thanks

[Jonathan Greene]

Since you've stayed there and the lot is open, I see the lure, but any time I see something like this - "This is a pure emotional type of investment and I want to honor it." I would caution you to NEVER honor your emotion in real estate. It will cause you to lose money every single time. Real estate is not emotional if you want to make money. It can be, but it should not be anything close to the reason for purchase or sale.

Sloped lots require a lot of regrading to level them which is WAY more expensive than most people think. You would want to know if anything was ever built on the land (maybe a house burned down) because if there was a house then you would have potentially buried septic or oil.

Buying and holding a lot for the future with topographical issues is only worth it if the price is negligible IMO.