Buying and developing land for green projects (Orlando)?

Question

Hi there!

I am looking to find land and develop it in the Orlando area. I would live on this land with five others. We were interested in building a homestead with a variety of projects and alternative living situations. A few questions I have are:

1)How do I go about seeing whether a project I would like to do is to code?
2) How do land loans work? Previously I was looking at a single family home with an FHA loan w/ smaller down payment.
3)Any tips on buying land in general?

Thanks everyone! Happy Thursday.

Carrie Maultsby-Lute · Answer

hello! Did you find land? I have some in the area I am potentially selling or developing.

Carrie

Hae-Yuan Chang · Answer

@Steve HaightDefinitely appreciate it! :)

Steve Haight · Answer

Hae-Yaun Chang,

Nice to meet you, have some friends in Clearwater. Read my bio, if there is anything I can help you with let me know as I have been in the land business many years.

John Kent · Answer

FHA, USDA and VA all have construction to permanent loans. You can include the land and construction costs in the loan.

You will need to hire a custom builder. A full service custom home builder can walk you through site needs and will know how to adhere to the required building codes. They can also help you price out the construction project.

Generally speaking in our market, with current prices, resale homes are more cost effective than new construction.