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Old 08-23-2012, 08:34 AM
 
269 posts, read 575,019 times
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Erm, don't forget that you have to pay property taxes for that lot too, so take that into your calculations!
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Old 08-24-2012, 03:42 AM
 
Location: Dallas/Fort Worth, Texas
4,207 posts, read 15,255,953 times
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It could be a great investment if it's in a neighborhood that let's you hold on to it. You would have to keep it mowed, if it's in an HOA community, you still have to pay the dues.

I sold 2 lots in Fairview to 2 sisters 12 years ago, they built their homes last year. They had anticipated to build much sooner but stuff happens. That land today would have cost 4 times what they paid for it 12 years ago. They therefore already have a lot of equity in their homes.

Southlake has strict building restrictions. Find out the minimum requirements to build in that particular neighborhood, some require only 100% brick homes, minimum square footage, the builder will likely have to be approved by the city. Also, the requirements could change with time.

Naima
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