Buying Land to Build on Later

[Bryan O.]

Hi all,

I just had the thought to purchase some land out in the woods and build my own personal home on it in 2-3 years when I've saved up enough and had plans drawn. Does anyone know about land deals? I spoke to a banker and they said they have pretty bad land loans and they are only for 2-3 years. Specifically, I'm looking to find out: what are the loan types that exist for land, what kind of water considerations (and cost estimates) are there, and likewise for power (solar vs. running electric), and access (a road to the home). The land I am looking at is around 5-15 acres.

I'm in Lakewood, Colorado looking to buy in Jefferson County, but I think some of these issues apply to the broader land buying audience. Thoughts?

Kind regards,

Bryan