Purchasing lots to build on, what should we look out for?

[Andrea Descargar]

We're buying up a few acres throughout Michigan, based on location and potential future developments.

Someone said that if we buy a lot and break it up into 5 potential new build homes, that would then be considered a subdivision.

My question is, is there anything to look out for or consider when purchasing lots?

We will also be building our home on one of the lots. Looking to connect with an investor-focused real estate agent.

[Eliott Elias]

Make sure there are adequate utilities that connect into your lot. If your plan is to market that 10 homes can be built make sure the water and wastewater connection sizes support that. Developers will catch this during the feasibility stage and it is an added cost to them to have the city upsize their utilities. Check for floodplain and easements that may prohibit development as well.