5 Factors to Consider When Buying a Piece of Land
You may have noticed Carmel Valley has many lots for sale. Buying land in Carmel Valley is a process that requires careful planning and due diligence. There are a few things to consider when buying land in Carmel Valley. These recommendations have been selected based on our years of experience selling land in Carmel Valley. If you are considering a land purchase, this vacant land checklist may be helpful to you – keep in mind every property is different, but these are some guidelines you might consider in your search.
Purpose | Buying Land in Carmel Valley
Why do you want to buy a lot rather than a house? You might love the idea of building your own personal residence so you can create exactly what you want. Or, maybe you like projects and building a house is next on your list. Maybe you want to buy some land and wait until you retire to build, or maybe you see great upside in a particular neighborhood and you want to buy and hold. There are many reasons to buy property, but figuring out your “why” is a great prequel to Step 2 – identifying the location.
Location | Buying Land in Carmel Valley
Finding the right location for buying land in Carmel Valley is a fun part of the process. If you want to build a large estate in a completely secluded area, the Santa Lucia Preserve has some beautiful lots ready for your dream home. If you want something close to Highway 68 to easily access different areas on the Monterey Peninsula, there are some nice lots off Laureles Grade. Village Views has some beautiful properties for sale close to Carmel Valley Village with stunning vistas of Carmel Valley. Below are links to a few of the best areas for buying a piece of land in Carmel Valley. Part of identifying the location is assessing the water situation.
|Carmel Valley Village Land|
|The Preserve Land|
|Village Views Land|
|All Carmel Valley Land For Sale|
Water and Utilities | Buying Land in Carmel Valley
Water is expensive on the Monterey Peninsula, and it’s very scarce. A few years ago the Mal Paso Water Entitlement was initiated, and reports show that the supply is running thin – it could be completely gone as early as Spring of 2018 – just around the corner! Some lots are in the Mal Paso territory, and if so, you can run a connection with California American Water Service, also known as Cal-Am.
What about wells? Some neighborhoods are known for very productive wells, others are not so fortunate. We can put you in contact with the right people who have the local insight to these neighborhoods and the quality of wells they produce. A producing well is certainly a valuable feature when considering a land acquisition. Mal Paso water is also a great option, and if you have both, you can allocate the water in different ways as you please. We can help you determine if your property is eligible for Mal Paso, and we’ll keep you current on the timeline for when they expect to be out of water. We’ll also put you in contact with the people managing the Mal Paso water escrows, and show you documents that will help you calculate how much water you might need, and what the estimated cost will be.
Easements | Buying Land in Carmel Valley
Once you have identified a property and you’re in escrow, you will likely be flooded with information regarding the property. Understanding the easements is an important part of have confidence in what you can and can’t do with your land. Some properties have a view easement indicating that you can’t block the view of a neighbor. There also may be associated easements indicating that your neighbor can or cannot block your view. There are many kinds of easements to consider, but be sure you take the time with your agent to review them to get a full understanding of the legalities.
Building Envelopes and Usable Land
A quick note on building envelopes and acreage. Many lots will have “X” amount of acres, but a portion of that is usable land possibly due to trees or a steep grade. Throughout your search, you’ll see a wide array of price points, and in our experience, the value of a piece of land in Carmel Valley is greatly influenced by the size of the building envelope and the view rather than how much usable land you have.
Let us know if you have any questions!